Your Savings Destination This Tax Season!

At Posner Park Chrysler Dodge Jeep Ram FIAT, the Low Payment Kings are always going the extra mile to help you save—even when it comes to tax time!

Starting in 2025, you could deduct up to $10,000 per year in auto loan interest when you purchase a new U.S.-assembled car, truck, or SUV from our Davenport showroom.

🔧 Who’s Eligible?

• New personal-use vehicle purchases made between Jan. 1, 2025, and Dec. 31, 2028

• Vehicle must be assembled in the U.S. (look for a VIN starting with 1, 4, or 5)

• Income must be below $100K (individual) or $200K (joint) to receive the full deduction

• Applies to both electric and gas-powered models

• You may qualify even if you don’t itemize deductions

🕒 Already Bought in 2025? You Might Still Qualify!

If you financed a qualifying new vehicle earlier this year, reach out to the team at Posner Park—we’ll help you determine whether your vehicle purchase meets the new IRS guidelines.

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