Drivers near Saginaw, MI now have an exciting new way to save on their next vehicle purchase at Labadie Buick GMC. The federal auto loan interest tax deduction makes it possible for qualified buyers to deduct interest paid on eligible loans for new, American-built Buick and GMC models.¹
This program is only available for vehicles assembled in the United States and offers significant savings over the life of your loan, making this an ideal time to upgrade to a new Chevy and GMC models with Labadie Buick GMC in Bay City. Discover the program details, models that qualify and how our team can support you from start to finish.
New Auto Loan Interest Tax Deduction Information
The new auto loan interest tax deduction allows qualified buyers to deduct up to $10,000 per year in interest from new car loans.¹ This program is available through December 31, 2028, for those purchasing a new, American-built Buick or GMC vehicle.¹ Whether you itemize deductions on your federal tax return or take the standard deduction, this incentive could mean meaningful annual savings on your new vehicle.
Documentation of your loan and purchase will be required to claim this benefit, so it's important to save all related paperwork.¹ Fortunately, the Labadie Buick GMC financing experts are here to help you take full advantage of this federal program and answer your questions every step of the way.
Which Buick & GMC Models Qualify for the Deduction?
It's important to ensure that the specific vehicle you choose is both brand-new and listed with a final assembly point in the United States, as only these models are eligible for this federal incentive.¹ If you are interested in vehicles with specific features or trim packages, our local Buick dealership near Saginaw can help verify that the model you select qualifies.
Eligible new Buick models and their place of final assembly include:
- Enclave (Lansing, MI)
Meanwhile, qualifying new GMC vehicles and their final place of assembly include:
- Acadia (Lansing, MI)
- Canyon (Wentzville, MO)
- Savana (Wentzville, MO)
- HUMMER EV SUV (Detroit, MI)
- HUMMER EV Pickup (Detroit, MI)
- Sierra EV (Detroit, MI)
- Sierra 1500 (Roanoke, IN)
- Sierra HD (Flint, MI)
- Yukon (Arlington, TX)
- Yukon XL (Arlington, TX)
Who Qualifies for the Auto Loan Interest Deduction?
To qualify for the federal tax deduction, certain requirements must be satisfied. Thinking about submitting a GMC finance application and taking home a new truck or SUV near Saginaw? Here's what to know:
- Vehicle Requirements: Only a new Buick or GMC assembled in the United States can be claimed.
- Income Limits: The full deduction is available to individuals with a modified adjusted gross income up to $100,000, or couples earning up to $200,000.¹ The deduction is reduced for higher incomes.¹
- Loan Documentation: Save all records of loan and interest payments to support your deduction during tax season.
- Purchase Deadline: Financing for your eligible Buick or GMC must be completed no later than December 31, 2028.¹
American-Built Buick & GMC Vehicles in Bay City, MI
For step-by-step support with the auto loan interest tax deduction or eligibility information, Contact Labadie Buick GMC. Browse our inventory of qualifying American-built vehicles, speak with our team of financing professionals or visit for a one-on-one consultation.
Ready to explore your options? Visit our showroom or contact our team today to learn more about qualifying vehicles and how this federal tax deduction can benefit your next purchase.
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¹ See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.