Car buyers in Amherst, NY, now have even more incentive to purchase vehicles assembled in the United States. A new tax deduction allows individuals to deduct up to $10,000 in auto loan interest paid on US-manufactured cars and trucks.
Here's how the tax deduction works. If you secure an auto loan to purchase a new vehicle assembled in the US, you can deduct the interest paid on that loan from your taxes, up to a maximum of $10,000 per year. This is in addition to existing deductions and incentives for car purchases.
To qualify for the deduction, the vehicle must have been assembled at a plant located in the United States. Many popular models from domestic automakers like Ford, GM, and Chrysler are manufactured at US facilities and would be eligible. Even some foreign brands like Toyota, Honda, BMW, and Nissan assemble certain models at US plants so that those specific vehicles may qualify as well.
Amherst, NY is home to Northtown Automotive, a respected local car dealership with a wide selection of American-made vehicles. Our staff can help you find the new car or truck that qualifies for this exciting new tax incentive.
Buffalo, NY shoppers can also take advantage of the auto loan interest deduction by driving to Northtown Automotive in Amherst, NY. With potential savings of up to $10,000, it's well worth a visit to explore your options for a US-assembled vehicle.
Every opportunity to save money is important in today's economy. This new tax deduction for auto loan interest on American-made cars provides a great way to keep more cash in your pocket while supporting the US auto industry. If you're in the market for a new vehicle, now is a fantastic time to buy one built in the USA.
To explore the American-made cars and trucks eligible for the tax deduction, visit Northtown Automotive in Amherst, NY. Stop by today to find your new car or truck and start saving with the auto loan interest tax deduction!
