Getting behind the wheel of a new Chevy or GMC truck or SUV is now even more rewarding for California drivers thanks to the federal auto loan interest deduction. As a trusted Chevy and GMC dealership near Visalia, Ed Dena's Auto Center is here to help you take advantage of this incentive and enjoy real savings on new vehicles built with American craftsmanship.
If you're looking to maximize your buying power and drive home in a vehicle you love, let our expert team walk you through everything you need to know about the latest federal tax benefits.
What Is the New Auto Loan Interest Deduction?
A newly enacted federal program allows eligible buyers to deduct up to $10,000 per year in interest paid on auto loans for qualifying new vehicles, now through December 31, 2028.1 You don't need to itemize deductions to claim this benefit, which makes it more accessible for most car shoppers.
To qualify, your new Chevy or GMC must be assembled in the United States. Chevy and GMC have a robust lineup of American-made models that meet this requirement, from Silverado trucks to GMC Yukon SUVs, making it easier for local drivers to take advantage of this exclusive tax-saving opportunity.
Whether you'd like to buy a new Chevy Camaro or Tahoe, you can be eligible to claim this auto loan tax interest deduction!
Auto Loan Interest Deduction Requirements
Planning to finance a new Chevy or GMC in Dinuba? Here are the key requirements for this program:
- Income Limits: The deduction phases out at $100,000 modified adjusted gross income for individuals or $200,000 for joint filers.1
- Eligible Vehicles: Only new vehicles assembled in the U.S. are eligible, including many popular Chevy and GMC trucks and SUVs.¹
- Documentation: Be sure to retain your auto loan agreement and annual interest statements, which are needed to claim your deduction.
- Deadline: Your new Chevy or GMC must be financed by the end of 2028 to qualify for this incentive.¹
Apply for an Auto Loan Near Visalia, CA
Want to unlock long-term savings with the federal auto loan interest deduction? Contact Ed Dena's Auto Center today to explore qualifying models, start the auto loan process and get answers to your financing questions.
Take confidence in driving a Chevy or GMC that delivers the quality, value and strong American roots you expect, all while lowering your costs for years to come. Our friendly team is committed to making the vehicle financing process clear and hassle-free. Whether you have questions about program eligibility, available inventory or your financing options, we're here to help. Apply for Chevy financing and speak with one of our experts about auto loan interest deduction options today!
Learn More: Why Buy from Us? | New Chevy & GMC Specials
1 See dealer for details. Eligibility and requirements are subject to change. We recommend consulting a tax professional regarding any auto loan interest deductions.