Lower Your Payment. Lower Your Taxes. Claim up to $10,000 in Auto Loan Interest Deductions!

Family celebrating America with the flag and a Ram truck

At Dodge Chrysler Jeep Ram FIAT of Winter Haven, the Low Payment Kings are always finding ways to help you save—even at tax time!

Starting in 2025, you may be eligible to deduct up to $10,000 annually in interest on your auto loan—if you purchase a new U.S.-assembled car, truck, or SUV from our Winter Haven store.

🔧 Who Qualifies?

  • New, personal-use vehicle purchases from Jan. 1, 2025, through Dec. 31, 2028

  • Vehicle must be assembled in the U.S. (check the VIN—starts with 1, 4, or 5)

  • Income below $100K individual / $200K joint for full deduction

  • Applies to both electric and gas-powered models

  • Works even if you don’t itemize deductions

🔁 Bought Earlier 2025? You Might Still Qualify!

Customers who financed a qualifying new vehicle earlier in 2025 should reach out—we’ll help you determine whether your purchase meets the new IRS rules.

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