Discover the Auto Loan Interest Deduction
Thinking about financing a new Ford? There has never been a better time. Thanks to a new federal auto loan interest deduction, eligible shoppers can deduct up to $10,000 per year in loan interest on qualified new vehicle purchases made from 2025 to 2028. This limited-time benefit allows eligible drivers to upgrade into an American-made new Ford truck or SUV and enjoy significant tax savings.1
Stop by Pat Milliken Ford near Dearborn to find out which new Ford models are eligible for this valuable interest deduction!
Why Buy a New Ford Now?
With this unique tax benefit, buying a new Ford near Dearborn helps you get behind the wheel of a dependable, tech-forward and warranty-backed vehicle while making your money stretch further. Keep in mind: these savings are only available for new vehicle purchases, so maximize your tax benefits by selecting an eligible Ford truck, SUV or EV from our inventory.
You'll be thrilled to know that almost every new Ford is eligible under the new deduction rules. The only models that do not qualify are the Maverick, Bronco Sport and Mustang Mach-E. All other models qualify, including all the following popular and iconic choices:1
- Ford F-150: America's iconic pickup, ready for serious work and everyday drives.
- Ford Escape: A smart and versatile SUV designed for comfort and efficiency.
- Ford Explorer: Spacious, powerful and loaded with family-friendly features for every journey.
- Ford Super Duty®: The work truck of choice for so many of today's tradesmen.
- Ford Mustang: The one and only Pony car, unabashedly American and ready to lay down some rubber.
Key Details About the Auto Loan Interest Deduction1
- Deductions apply only for new vehicles purchased and financed with a loan between January 1, 2025, and December 31, 2028.
- Used vehicles are not eligible. Only new vehicles can qualify for the deduction.
- Qualified buyers can deduct up to $10,000 per year in loan interest.
- Vehicles must be assembled in the U.S., and your loan must be secured by the first lien.
- Vehicle must be used for personal transportation, not business or commercial use.
- Deduction begins to phase out for individuals with modified adjusted gross incomes above $100,000, or $200,000 for joint returns.
Secure the Auto Loan Interest Deduction at Pat Milliken Ford
Make the most of this rare deduction when you buy a new Ford truck, SUV or car at Pat Milliken Ford. Unsure which vehicles qualify or how the deduction works? Contact our Redford Ford dealer or stop in to explore our current selection. Enjoy impressive new car savings with us!
Learn More: Buy vs. Lease a Ford | Compare New Ford EVs | Local Redford Ford Dealer
1We are not accountants or CPAs, and this is not tax advice. Speak with a qualified professional for guidance. See dealer for details.