Buying a new vehicle has never been more rewarding for Virginia Ford drivers, thanks to the new federal auto loan interest deduction. At Cavalier Ford Chesapeake Square, we make it simple to take advantage of this valuable incentive -- helping you save even more on a Ford truck or SUV. It's the perfect time to get behind the wheel of a vehicle built with the reliability and innovation you deserve.
Wondering how the deduction works or which Ford models qualify? The knowledgeable team at our Ford dealer near Norfolk is ready to guide you through the details and ensure you maximize your savings on a new car, truck or SUV.
What's the Federal Auto Loan Interest Deduction?
A new federal initiative gives qualified buyers the chance to deduct up to $10,000 annually in interest on auto loans for eligible new vehicles, available now through December 31, 2028.1 Best of all, you don't need to itemize your taxes to take advantage of this valuable savings opportunity.
Eligibility requires that your new vehicle be built in the United States. That means many of the Ford trucks and SUVs we proudly offer at Cavalier Ford Chesapeake Square meet the criteria -- making it easier than ever to drive home an American-made vehicle while enjoying significant tax benefits.
Eligible new Ford vehicles may include:1
- 2025 Ford F-150
- 2025 Ford F-150 Lightning
- 2025 Ford F-150 Hybrid
- 2025 Ford Explorer
- 2025 Ford Ranger
- 2025 Ford Bronco
- 2025 Ford Mustang
- 2025 Ford Escape
- 2025 Ford Expedition
- 2025 Ford Expedition MAX
Auto Loan Interest Deduction Requirements
If you're thinking about financing a new Ford in Chesapeake, keep these essential guidelines for auto loan interest deductions in mind:
- Income caps: The deduction phases out for individuals with $100,000 or more in modified adjusted gross income, or $200,000 for joint filers.
- Eligible Ford models: Only new vehicles assembled in the U.S. qualify -- including many Ford models (ask our team for the latest qualifying vehicles).1
- Documentation needed: You'll need your signed loan agreement and interest statements when claiming the tax deduction.
- Deadline: Your qualifying Ford must be financed by December 31, 2028, to be eligible for this program.1
Secure an Auto Loan in Virginia Here!
Looking to take advantage of the federal auto loan interest deduction on your next Ford F-150, Explorer or another American-made model? Contact Cavalier Ford Chesapeake Square to review eligible vehicles, learn about financing options and start your journey toward long-term savings in a brand-new Ford.
Still have questions about eligibility or program details? Our knowledgeable finance specialists are here to guide you every step of the way. Visit our Chesapeake Ford dealership today for personalized assistance and discover how simple it is to capitalize on this unique tax benefit.
1 See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.