At Buckeye Superstore in Shelby, Ohio, the Low Payment Kings are helping you save in every way—including your taxes!
Starting in 2025, you may be able to deduct up to $10,000 annually in auto loan interest when you buy a qualifying U.S.-assembled vehicle from our Ohio location.
🔧 Eligibility Highlights:
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Vehicle purchased for personal use between Jan. 1, 2025 – Dec. 31, 2028
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Final assembly must be in the U.S. (VIN begins with 1, 4, or 5)
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Must earn less than $100K (individual) or $200K (joint) to qualify fully
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Works for both EVs and gas vehicles
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Available even if you don’t itemize deductions
📞 Purchased in Early 2025? You Could Still Be Eligible!
If you financed a qualifying vehicle earlier this year, get in touch with the Buckeye Superstore team and let us help you review your eligibility under the new IRS rule.
New Auto Loan Interest Deduction*
• Qualifying taxpayers may deduct up to $10,000 in interest annually on loans for eligible, new personal-use vehicles with final assembly in the U.S.
• Applies to EV and ICE vehicles purchased between January 1, 2025, and December 31, 2028
• VINs starting with 1, 4, or 5 indicate U.S. final assembly.
Disclaimer:
For taxable years beginning after December 31, 2024, and before January 1, 2029, Section 163(h)(4) of the Internal Revenue Code of 1986, as amended, permits qualifying taxpayers to deduct interest paid or accrued during the taxable year on indebtedness incurred by the taxpayer after December 31, 2024, for the purchase of new qualifying vehicles, for personal use, with final assembly in the United States. Limitations may apply where a dealer has previously used a vehicle as a courtesy transportation vehicle. Personal eligibility to claim this deduction depends on the customer’s own individual circumstances, including whether modified adjusted gross income exceeds the income thresholds contained in Section 163(h)(C)(ii). If customer qualifies, this deduction may be available irrespective of whether customer chooses to itemize deductions. Additional limitations apply, including a maximum amount of interest permitted for deduction in a given year. Customers should be directed to consult with their own tax, accounting, or legal professional or advisor to confirm eligibility for this deduction or if they have questions regarding their qualification to claim the deduction. This information does not constitute tax, accounting, or legal advice
