Save up to $10,000 on your next new vehicle!*
*$10,000 maximum annual deduction for interest paid on a qualifying auto loan. Applies to tax years 2025-2028. This is an **""above-the-line""** deduction, meaning it reduces your Adjusted Gross Income (AGI). Taxpayers can claim this deduction **even if they take the standard deduction** and do not itemize. The deduction is a direct reduction of taxable income, providing a benefit to a wider range of taxpayers. Purchaser/lease required to report vehicles VIN on tax return. Must be a new vehicle. Used vehicles are ineligible. Final assembly must have occurred in the United States. Gross vehicle weight rating must be less that 14,000 pounds. Includes cars, minivans, trucks, SUVs and motorcycles. Vehicles include: Camry, Corolla, Tundra, Sequoia, Highlander (U.S. assembled). Vehicle must be for personal use, business-use vehicles do not qualify. Must be a new loan taken out specifically to purchase the vehicle. Refinancing is not eligible. The loan must be secured by a lien on the purchased vehicle. Full Deduction Eligibility Single Filers: $100,000 or less, Married Filing Jointly: $200,000 or less Taxpayers within these income limits qualify for the full $10,000 annual deduction. Phase-Out Ranges Single Filers: $100,000 - $150,000 Married Filing Jointly: $200,000 - $250,000.Deduction amount is reduced for incomes within these ranges and eliminated above the maximum. Based on modified adjusted gross income (MAGI) limits established by the One Big Beautiful Act. Expires December 31, 2028.
Save up to $10,000 on your next new vehicle!*
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Price excludes tax, title, and other governmental fees. Price includes the $585 Electronic Registration Filing Fee and $1,299 predelivery service charge. These charges represent costs and profits to the dealer for items such as inspecting, cleaning, and adjusting vehicles, and preparing documents related to the sale. MSRP is not the dealer price and does not include the Electronic Filing Registration Fee and predelivery service charge. While every reasonable effort is made to ensure the accuracy of this information, we are not responsible for any errors or omissions contained on these pages. Price excludes tax, title, and other governmental fees. Price includes the $585 Electronic Registration Filing Fee and $1,299 predelivery service charge. These charges represent costs and profits to the dealer for items such as inspecting, cleaning, and adjusting vehicles, and preparing documents related to the sale. MSRP is not the dealer price and does not include the Electronic Filing Registration Fee and predelivery service charge. While every reasonable effort is made to ensure the accuracy of this information, we are not responsible for any errors or omissions contained on these pages. Your Purchase Price does include manufacturer dealer cash incentives & dealer discount but cannot be combined with Manufacturer APR incentives. See Dealer for details. Please verify any information in question with Gettel Toyota Ocala.