Chevy Drives America You've got enough going on in life. Well don't worry, Chevy's got you covered. You may be eligible for a tax deduction for UP TO $10,000 in annual interest paid on certain Chevrolet Vehicles. See your Chevy dealer for details.

YOU MAY BE ELIGIBLE FOR A TAX DEDUCTION FOR UP TO $10,000 IN ANNUAL INTEREST PAID¹ ON CERTAIN CHEVROLET VEHICLES

Act now and see if you qualify

Shopping for a vehicle?

WHAT THE ONE BIG BEAUTIFUL BILL MEANS FOR CAR BUYERS

BIG THINGS ARE ON THE HORIZON - designed to make eligible vehicles' interest payments tax deductible.
The One Big Beautiful Bill is a new federal law aimed, in part, at incentivizing the purchase of eligible vehicles assembled in the U.S. by qualified purchasers.


HERE'S WHAT IT COULD MEAN FOR YOU - MORE VALUE

New incentives could provide tax savings on interest payments made on eligible auto loans for qualified buyers, making it more affordable to get into eligible cars, trucks, or SUVs assembled in the US.
This Act is all about rewarding the purchase of a U.S. Assembled vehicle, by allowing you to deduct the interest paid on eligible loans -without compromising on what matters most to you.

1Available for eligible individual buyers on new qualifying vehicles assembled in the US.  Only applies to interest paid in tax years 2025-2028 on new debt contracted after 12/31/2024. Tax deduction subject to change and filing requirements. Income restrictions and other restrictions and limitations may apply. Consult your tax, legal, or accounting professional if you have questions. This information does not constitute tax, accounting, or legal advice. Deduction subject to federal laws and regulations and manufacturing constraints. 

FAQs

WHAT IS THE PROGRAM?

  • 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

  • MUST BE ASSEMBLED IN THE U.S.