One Big, Beautiful, Bill – Deduct $10,000 in Interest at Three Rivers Ford
At Three Rivers Ford in Three Rivers, TX, our goal is to help you get behind the wheel of your dream car, truck, or SUV. Fortunately, with the passage of the One, Big, Beautiful Bill, there’s never been a better time to finance a new Ford vehicle.
Under the “No Tax on Car Loan Interest” provision, eligible buyers may deduct $10,000 per year in interest paid on qualifying auto loans, potentially lowering their overall tax burden.
In this overview, our Ford dealership breaks down the details of this deduction to help shoppers across Three Rivers, Corpus Christi, Beeville, Kenedy, and George West make confident, informed purchasing decisions.
Vehicle Eligibility Checklist
To qualify for the “No Tax on Car Loan Interest” deduction, your vehicle purchase must meet the following requirements:
-
Final assembly completed in the United States
-
Must be a new vehicle (used vehicles are not eligible)
-
Auto loan initiated after December 31, 2024
-
Intended for personal use (not business or commercial purposes)
-
Gross Vehicle Weight Rating (GVWR) under 14,000 lbs
-
Financed through a standard auto loan (leases or loans from family and friends do not qualify)
What Can You Deduct & Who Qualifies?
Here’s a closer look at how the deduction works, what you may be able to claim, and who is eligible:
-
Deductible amount: $10,000 in auto loan interest per year
-
Applies to: Taxpayers who take the standard deduction or itemize
-
Income limits: The benefit phases out at higher income levels
-
Phase-out thresholds: Begins at $100,000 MAGI for single filers and $200,000 MAGI for joint filers
Which Fords Qualify for the Tax Deduction?
Ford manufactures a variety of vehicles in the United States. Below is a breakdown of models that may qualify for the tax deduction. To confirm eligibility, we recommend verifying the vehicle’s VIN and consulting with your tax professional.
How to Check if Your Vehicle Qualifies
-
Confirm the vehicle is new. Used and certified pre-owned models are not eligible.
-
Locate the VIN on your driver’s side doorjamb label, insurance card, or vehicle registration.
-
Verify the VIN begins with 1, 4, 5, 7F–7Z, or 70, indicating the vehicle was assembled in the United States.
-
Confirm the loan type is a standard secured auto loan from a qualified lender, as leases do not qualify.
Bonus Tip: If you’re unsure, you can use the National Highway Traffic Safety Administration (NHTSA) VIN decoder tool to verify your vehicle’s assembly details.
Frequently Asked Questions
To support you throughout your car-buying journey, we’ve answered some of the most frequently asked questions about the “No Tax on Car Loan Interest” provision included in the One, Big, Beautiful Bill.
What vehicles qualify for the One, Big, Beautiful Bill tax deduction?
Only new vehicles assembled in the United States qualify. Used vehicles are not eligible, even if they are financed through an auto loan or another lender.
How can I tell if my vehicle was assembled in the United States?
Check your VIN to confirm the country of origin. If your VIN begins with a 1, 4, 5, 7F-7Z, or 70, it was assembled in the United States.
Where can I find my vehicle's VIN?
Your car’s VIN can be found in the following places:
-
Driver’s side doorjamb label
-
Auto insurance card
-
Vehicle registration
Which Ford models qualify for the One, Big Beautiful Bill tax deduction?
Only new vehicles assembled in the United States can qualify for the deduction. Ford models assembled in the United States include:
Ford F-150 - Dearborn, Missouri
Ford Mustang - Flat Rock, Missouri
Ford Bronco - Wayne, Missouri
Ford Ranger - Wayne, Missouri
Ford Escape - Louisville, Kentucky
Ford Expedition - Kentucky Truck, Kentucky
Ford Super Duty - Kentucky Truck, Kentucky
Ford Explorer - Chicago, Illinois
Can the tax deduction be used for work or commercial vehicles?
No. The vehicle must be purchased primarily for personal, non-commercial use.
When does the “No Tax on Car Loan Interest” deduction take effect?
The deduction applies to auto loans originated after December 31, 2024.
How much can I deduct for the One, Big Beautiful Bill tax deduction?
Eligible borrowers can deduct $10,000 per year in qualifying auto loan interest.
Can I claim the deduction on a lease or used vehicle?
No. This deduction applies only to new vehicles financed with a standard secured auto loan.
Should I consult a tax professional?
Yes. While this benefit can offer significant savings, tax situations vary. We recommend consulting a tax professional to see how this deduction applies to your circumstances.
Finance Your New Ford at Three Rivers Ford!
The “No Tax on Car Loan Interest” provision of the One, Big, Beautiful Bill offers Texas drivers a great opportunity to get behind the wheel of their dream car. With a potential deduction of $10,000 per year, now is the perfect time to finance your new car, truck, or SUV.
At Three Rivers Ford, our team is dedicated to making Ford financing easy and stress-free. Our finance center experts will work with you to find the right plan for your needs. We’ll help you navigate available incentives and programs so you can confidently drive home in your new Ford. Get started today by calculating your payment or valuing your trade-in online.
Call (361) 436-8226 or visit us at 905 N., Harborth Ave., Three Rivers, TX 78071 to get started!
Thank you for choosing us as your trusted car dealership near Three Rivers, Corpus Christi, Beeville, Kenedy, and George West, TX!