New Tax Breaks on New Ford Vehicles
A new federal tax deduction* lets qualifying customers deduct up to $10,000 annually on interest paid for new vehicles. Many Ford vehicles are proudly assembled right here in the U.S.**, making them eligible for this tax break. That means you can drive a quality Ford and keep more of your hard-earned money. It's a win for your wallet, and a win for America.
Frequently Asked Questions
- Provides a tax deduction for up to $10,000 in annual interest paid on loans to acquire U.S. Assembled qualifying vehicles for eligible consumers.
- Applies whether an individual itemizes deductions or takes the standard deduction.
- Consult your tax, legal, or accounting professional if you have questions. This information does not constitute tax, accounting, or legal advice.
- Income limits: $100k single ($200k married filing a joint return) – phase out for next $50k and is fully-phased out for taxpayers with modified adjusted gross income in excess of $150k ($250k married filing a joint return)
- Individuals financing only – not applicable to commercial/fleet purchases & no lease benefit.
- Only applies to interest paid in tax years 2025-2028.
- Must be new debt contracted after 12/31/2024, excludes refinancing of debt incurred prior to 12/31/2024.
- Only applies to interest paid in tax years 2025-2028.
- Must be new debt contracted after 12/31/2024, excludes refinancing of debt incurred prior to 12/31/2024.