One Big Beautiful Bill Act

At the Parkway Auto Superstore we like our customer base to be informed of current events. The One Big Beautiful Bill Act has opportunities available for our customers.

Learn More

The "One Big Beautiful Bill Act" provides tax deduction for interest paid on auto loans used to purchase vehicles assembled in the US.

This deduction is up to 10,000.00 in annual interest on loans effective for 2025 through 2028. Applies to NEW Electric Vehicles, Hybrid Vehicles, and I.C.E. (internal combustible engines or gas engines) Vehicles with loans originating between January 1st, 2025 and December 31st, 2028. It is specifically for loans used to buy vehicles for personal use, and not for leases.

Example: If someone finances a car assembled in the US and pays $8,000 in interest in a given year, they can deduct that $8,000 from their taxable income. 

Here's a more detailed breakdown:

  • Deductible Interest: The bill allows you the taxpayer to deduct the interest paid on auto loans used to purchase qualifying vehicles.
  • Qualifying Vehicles: The vehicle must be purchased (not leased) and have its final assembly in the United States.
  • Timeframe: The deduction applies to loans taken out between January 1st, 2025 and December 31st, 2028. 
  • Deduction Limit: The maximum deduction is up to $10,000 per year.
  • Eligibility: The deduction is available for both itemizers and non-itemizers, but it phases out for those with higher incomes. Specifically, the deduction is limited to individuals with modified adjusted gross incomes of $100,000 or less ($200,000 or less for married couples filing jointly).
  • Impact: This deduction is intended to incentivize the purchase of American-made vehicles. 

Contact us at the Parkway Auto Superstore at 330-343-6681 if you have any questions regarding the information above and how we can help.

For more info visit: https://www.whitehouse.gov/articles/2025/06/50-wins-in-the-one-big-beautiful-bill/

How Can We Help?

* Indicates a required field

Disclaimer: Pricing includes all offers and incentives. Tax, Title, Registration Fee, $398 Doc Fee (if the price is under $3,980 we will charge 10% of that price.), and Tags not included in vehicle prices shown and must be paid by the purchaser. With approved credit. Terms may vary. May include additional accessories. See dealer for details, some accessories may be removable. While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at 330-343-6681 or by visiting us at the dealership. This site, and all information and materials appearing on it, are presented to the user “as is” without warranty of any kind, either express or implied. All vehicles are subject to prior sale.