At Paradise Chevrolet Cadillac in Temecula, California, we’re thrilled to offer you an exceptional opportunity to drive home a new Chevrolet vehicle while potentially benefiting from a tax deduction of up to $10,000 on interest paid. This exclusive offer is part of the Chevy Drives America program, designed to reward eligible buyers who choose American-made vehicles.
What Is the Chevy Drives America Program?
The Chevy Drives America initiative provides a tax deduction for up to $10,000 in annual interest paid on loans for new, U.S.-assembled qualifying Chevrolet vehicles. This program is available to individual buyers who finance their purchase with new debt contracted after December 31, 2024, and applies to interest paid during tax years 2025 through 2028. It’s important to note that refinancing existing loans does not qualify for this deduction.
Eligibility Criteria
To take advantage of this offer, buyers must meet the following income requirements:
- Single filers: Modified Adjusted Gross Income (MAGI) up to $100,000
- Joint filers: MAGI up to $200,000
The deduction phases out for the next $50,000 in income and is fully phased out for taxpayers with MAGI exceeding:
- $150,000 for single filers
- $250,000 for joint filers
Additionally, the program applies only to individual financing and does not extend to commercial or fleet purchases, nor does it apply to leases.
Eligible Vehicles
The tax deduction is available for new Chevrolet vehicles assembled in the United States. Paradise Chevrolet Cadillac offers a wide selection of these vehicles, including popular models such as the Chevrolet Traverse, Silverado, Equinox, and Bolt EV. Each of these vehicles combines American craftsmanship with innovative technology, ensuring you get both quality and performance.
How to Benefit
To determine if you qualify for the Chevy Drives America program, we recommend consulting with a tax, legal, or accounting professional. They can provide personalized advice based on your financial situation. At Paradise Chevrolet Cadillac, our team is here to assist you in exploring eligible vehicles and guiding you through the financing process.
Visit Us Today
Ready to take the next step? Visit us at 27360 Ynez Road in Temecula, CA, or contact our sales team at 888-498-9281 to schedule a test drive. Our knowledgeable staff is eager to help you find the perfect Chevrolet vehicle that meets your needs and ensures you can take full advantage of this limited-time offer.
Drive American innovation with Paradise Chevrolet Cadillac and experience the benefits of the Chevy Drives America program today.
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