Claim the Auto Loan Interest Deduction Near Tulsa, OK
Making the move into a brand-new Chevy SUV or GMC truck is more rewarding than ever thanks to the recently introduced federal auto loan interest deduction. This incentive empowers Oklahoma drivers to save on their next new vehicle while celebrating American auto manufacturing.
Wondering how this vehicle tax deduction works or which vehicles qualify? The team at Randy Bowen Chevrolet GMC near Tulsa is here to help drivers maximize every savings opportunity on a new Chevy or GMC.
What Is the Federal Auto Loan Interest Deduction?
A new federal program now allows certain car buyers to deduct up to $10,000 per year in interest paid on auto loans for eligible new vehicles financed through December 31, 2028.1 Car buyers do not need to itemize on their tax returns to claim this benefit -- it's designed to be accessible for most new Chevy and GMC shoppers.
To qualify, your new vehicle must be assembled in the United States. Because the Chevrolet and GMC brands fall under the umbrella of General Motors, a proud American auto manufacturer, we stock many vehicles that may be eligible for this exclusive tax-saving offer.
Eligible Chevrolet and GMC vehicles may include:1
- 2025 Chevy Colorado
- 2025 Chevy Corvette
- 2025 Chevy Suburban
- 2025 Chevy Tahoe
- 2025 Chevy Traverse
- 2025 Chevy Silverado 1500
- 2025 GMC Yukon
- 2025 GMC Yukon XL
- 2025 GMC Canyon
- 2025 GMC Sierra 1500
- 2025 GMC Acadia
Requirements for the Auto Loan Interest Deduction
If you're considering financing a new Chevy truck or GMC SUV near Tulsa, review these important guidelines:
- Income Caps: The deduction is phased out above $100,000 modified adjusted gross income for single filers or $200,000 for joint filers.
- Vehicle eligibility: Only new vehicles assembled in the United States qualify, like the Chevy and GMC models listed above.
- Documentation: You'll need to keep your signed loan agreement and any interest statements -- these are required when claiming the deduction.
- Deadline: Your new Chevy or GMC must be financed before December 31, 2028, to qualify for this federal program.
Start an Auto Loan Near Tulsa, OK
Ready to take advantage of the new auto loan interest deduction on your next Chevy Silverado or GMC Acadia? Contact Randy Bowen Chevrolet GMC to get answers, explore qualifying models and begin the auto financing process. Drive home an American-assembled vehicle you love with real savings and exceptional value.
More Resources: Chevy & GMC Financing | Car Payment Calculator
1See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.