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You may be eligible for up to $10,000 in annual interest paid* on loans to acquire U.S.-assembled* qualifying vehicles for eligible consumers.

What the One Big Beautiful Bill means for car buyers

Big things are on the horizon that are designed to make eligible vehicles’ interest payments tax deductible.

The One Big Beautiful Bill is a new federal law aimed, in part, at incentivizing the purchase of eligible vehicles assembled in the U.S. by qualified purchasers.

New incentives could provide tax savings on interest payments made on eligible auto loans for qualified buyers, making it more affordable to get into eligible cars, trucks or SUVs assembled in the U.S.

This Act is all about rewarding the purchase of a U.S.-assembled vehicle* by allowing qualified buyers to deduct the interest paid on your loan — without compromising on what matters most to you.

See your dealer for vehicle eligibility and more details.

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Chevy’s got you covered

You may be eligible for a tax deduction of up to $10,000 in annual interest paid on certain Chevrolet vehicles.*

Check your eligibility for additional finance savings. See your Chevy dealer.
Locate a Dealer
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Chevy’s got you covered

You may be eligible for a tax deduction of up to $10,000 in annual interest paid on certain Chevrolet vehicles.*

Check your eligibility for additional finance savings. See your Chevy dealer.
Locate a Dealer
Search Inventory

FAQs

What is the program?

Provides a tax deduction for up to $10,000 in annual interest paid on loans to acquire U.S. assembled* qualifying vehicles for eligible consumers.

Applies whether an individual itemizes deductions or takes the standard deduction.

Consult your tax, legal or accounting professional if you have questions. This information does not constitute tax, accounting or legal advice.

Who qualifies?

Income limits: Benefit begins to phase out for customers with modified adjusted gross income in excess of $100k (single) or $200k (married filing a joint return).

What loan types are eligible?

Individual financing only – not applicable to commercial/fleet purchases and no lease benefit.

Do I have to purchase by a certain date?

Only applies to interest paid in tax years 2025-2028.

Must be new debt contracted after 12/31/2024. Excludes refinancing of debt incurred prior to 12/31/2024.

What vehicles are eligible?

Must be assembled in the U.S.*

Can my preferred Chevrolet dealer help me get the most out of the One Big Beautiful Bill?

Contact your preferred Chevrolet dealership for personalized support and guidance regarding the One Big Beautiful Bill.

What does this mean for the $7,500 federal EV tax credit?

Under current law, the federal clean vehicle tax credit* — worth up to $7,500 for new EVs and $4,000 for used EVs for eligible purchases — is set to expire on September 30, 2025. To qualify, eligible vehicles must be delivered on or before that date. The credit is subject to strict requirements, including, but not limited to, where the vehicle is assembled, its price and the buyer’s income. Some participating dealers can apply the credit up front at the time of sale, lowering the purchase price immediately.

Buyers should confirm eligibility with the dealer and ensure a “time-of-sale” report is submitted to the IRS. Your ability to claim the credit depends on your personal tax situation, including your adjusted gross income. We recommend consulting a tax advisor for guidance. For the latest information on eligible vehicles and requirements, visit fueleconomy.gov. 

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