Auto Loan Interest Deduction at Currie Motors Ford of Frankfort
Auto Loan Interest Deduction at Currie Motors Ford of Frankfort
A new vehicle should be a smart investment, and now, drivers shopping at our Ford dealership in Frankfort can unlock added value thanks to a newly introduced federal tax benefit. The auto loan interest deduction is designed to help you save on the overall cost of financing your new Ford, giving you the freedom to choose the perfect model with more money in your pocket.
At Currie Motors Ford of Frankfort, we’re committed to making sure our customers have all the information and guidance they need to take advantage of this opportunity.
Auto Loan Interest Deduction Information
The federal government now enables buyers to deduct up to $10,000 per year in interest paid on auto loans for qualifying new vehicles through December 31, 2028.1 Whether you take the standard deduction or itemize, you’re eligible to claim these savings if all requirements are met.
To qualify, your new Fordmust be assembled in the United States — a milestone achieved by many models in the current lineup. Make sure to keep your loan paperwork and lender interest statements on hand, as you’ll need these for your next tax return.
How to Qualify for the New Auto Loan Interest Deduction
When securing Ford financing in Illinois on your new truck or SUV, keep these key requirements in mind for eligibility:
- Income Limits: If your modified adjusted gross income goes above $100,000 as a single filer or $200,000 for joint filers, the deduction phases out.1
- Vehicle Criteria: Only brand-new vehicles assembled in the U.S. are eligible. That means many of the Ford trucks, SUVs and crossovers at our Frankfort dealership qualify.1
- Documentation: Preserve your purchase agreement and all loan/interest records for your federal tax filing.1
- Timeline: The loan must be finalized prior to the end of 2028 for the deduction to apply.1
Why Finance a New Ford in Frankfort, IL?
Choosing Currie Motors Ford of Frankfort means partnering with a dealership known for integrity and excellence. Here’s why customers choose us for Ford sales and financing:
- Over 1,000 New Vehicles: An unmatched inventory makes finding your ideal Ford F-150, Explorer, Escape or Mustang simple and convenient.
- Community Commitment: With over 30 years serving our region, we’re proud to give back and stay involved in the Frankfort community.
- Trusted by Locals: We’re known for a straightforward process, expert guidance and a friendly approach that puts your needs first.
Flexible Ford Financing Near Me
If you’re interested in leveraging the federal auto loan interest deduction on a new Ford, Currie Motors Ford of Frankfort is ready to help. Our team will guide you through eligibility, help you organize your documentation and present financing solutions tailored to your unique budget.
To learn more about Ford financing, current offers or how to claim your tax deduction, contact Currie Motors Ford of Frankfort today. We’ll simplify your car-buying journey and help you maximize value on your next new Ford!
Learn More: New Ford Specials | Finance Application | Subprime Financing Options | Value Your Trade
1 See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.