Thanks to the recently announced OBBB (One Big Beautiful Bill) Tax Deduction, buying a new car can come with a sizable tax break. If you purchase a qualifying new vehicle between now and 2028, you may be able to deduct up to $10,000 in loan interest from your taxes annually.
To qualify for the deduction, the vehicle must have been assembled in the United States. Luckily for Ford fans, many of the brand's most popular models are made right here in America. This includes the F-150, Explorer, Escape, Bronco, Ranger, Expedition, Super Duty trucks, and the iconic Mustang.
If you're not sure whether a particular Ford vehicle was built in the US, the quickest way to check is by looking at the VIN. Located at the base of the windshield on the driver's side, the VIN can also be found on your registration and insurance card. If it starts with a 1, 4, 5, or 7, that means the vehicle was assembled domestically and likely qualifies for the tax deduction.
It's important to note that there are some restrictions on which vehicles are eligible. The OBBB Tax Deduction only applies to new vehicles purchased for personal use. So, if you're buying a car for your business or purchasing a used vehicle, you won't be able to claim the deduction. There are also income limits that phase out the deduction for high earners.
Talk to Our Car Finance Experts
If you live in Washington, NJ, or the surrounding areas, Fred Beans Ford of Washington is here to help you find a qualifying vehicle and take advantage of this exciting tax break. Our new inventory is stocked with a broad selection of American-made Fords.
For our customers in Clinton, NJ, Phillipsburg, NJ, or beyond, making the short drive to our Washington dealership could really pay off come tax season. We also proudly serve the Easton, PA, and Bedminster, NJ, areas as well, so cross the river and come see us to learn more about the tax deduction.
Our experienced sales team is well-versed in the details of the tax deduction and can help you select an eligible vehicle that suits your lifestyle and budget. We're happy to answer any questions you may have and can assist with the paperwork to make claiming the deduction as easy as possible.
If you're in the market for a new car near Hackettstown, NJ, there's never been a better time to buy an American-made Ford. With the potential to save up to $10,000 a year on your taxes, it's an opportunity you won't want to miss. Visit Fred Beans Ford of Washington or contact us to learn more about your tax-deductible new Ford today!
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