What Is the Auto Loan Interest Deduction?
Thinking of financing a new Hyundai? Now is a great time. Thanks to the new federal auto loan interest deduction, eligible buyers can deduct up to $10,000 per year in loan interest on qualifying new car purchases made between 2025 and 2028. It's an unprecedented opportunity for South Charleston drivers to invest in a new Hyundai and benefit from meaningful tax savings exclusively for new vehicles.
Stop by our Hyundai dealership in South Charleston and see the new Hyundai models that are eligible for this interest deduction!
Why Buy a New Hyundai Now?
With this exciting tax incentive, purchasing a new Hyundai at Joe Holland Hyundai means you can get into a reliable, tech-savvy and warranty-backed new vehicle while making your money go further. However, these savings do not apply to used car or truck purchases, so acting now ensures you'll get the most value from your next automotive upgrade when you buy a new Hyundai SUV or sedan from us.
Top Hyundai Models That Qualify:
Pack up for your next adventure and discover the roads ahead!
A popular SUV offering versatility, advanced safety and the latest tech.
Spacious, refined, and feature-rich -- an ideal SUV for families and road trips.
Key Details About the Auto Loan Interest Deduction
- Deductions are available only for new vehicles purchased and funded with a loan between January 1, 2025, and December 31, 2028.
- Only new vehicles are eligible -- used car loans do not qualify.
- The deduction is up to $10,000 per year in interest for qualified buyers.
- Vehicles must have final assembly in the United States, and your loan must be secured by the first lien. Qualifying Hyundai models will have a VIN that starts with a 1, 4 or 5.
- Vehicle must be for personal use, not business or commercial use.
- Deduction begins to phase out for taxpayers with modified adjusted gross income over $100,000, or $200,000 for joint filers.
Secure the Auto Loan Interest Deduction at Joe Holland Hyundai
Take full advantage of this limited-time deduction by purchasing a new Hyundai from our dealership. Questions about which vehicles qualify or how the deduction works? Contact Joe Holland Hyundai in South Charleston or stop by to browse our in-stock models. Enjoy new car savings when you shop with us!
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