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.

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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/

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Price does not include applicable tax, title, Registration Fee, $387 Doc Fee, if the price of the vehicle is under $3,870 we will charge 10% of the vehicle price and license charges. Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. 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. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week