Thinking about driving home in a new Acura SUV or sedan? The federal auto loan interest deduction could make your next purchase more affordable than ever. This recent tax incentive allows eligible buyers to deduct the interest paid on qualifying auto loans, reducing the actual long-term cost of financing a new Acura.1
If you're shopping at our Bay Shore Acura dealership, understanding how this deduction works, and how to take full advantage, can help you maximize your budget when upgrading to an MDX, RDX or Integra on Long Island!
What's the New Auto Loan Interest Deduction?
A change in federal tax law now lets qualifying buyers subtract up to $10,000 per year in interest payments on eligible auto loans, available through December 31, 2028.1 Whether you take the standard deduction or itemize, this benefit can lead to noticeable annual savings if you purchase a new Acura in Bay Shore that meets program criteria.
To qualify, vehicles must be both brand-new and assembled in the United States.1 This puts many new Acura vehicles on Long Island in position to help you make the most of this federal program. The MDX and RDX are assembled in East Liberty, Ohio, while the Integra is built in Marysville, Ohio, making all three models eligible for this valuable tax benefit.1
How Do I Qualify for the Auto Loan Interest Deduction?
Follow these guidelines to determine eligibility for this valuable tax deduction:
- Income Restrictions: The deduction amount reduces for individuals with a modified adjusted gross income above $100,000 or couples with income over $200,000.1
- Vehicle Requirements: Only new vehicles assembled in the United States are eligible. All three American-built Acura models -- MDX, RDX and Integra -- qualify for this program.1
- Proof of Purchase: Hold on to your loan agreements, purchase paperwork and interest statements, as these documents are necessary for claiming the deduction.1
- Financing Deadline:Acura financing must be arranged and finalized on your new vehicle before the close of 2028 to qualify.1
Why Finance a New Acura in Bay Shore, NY?
Want friendly, personalized guidance as you navigate this new car loan interest tax write-off? Here are just a few key reasons why customers choose us:
- Straightforward Sales Process: We offer a transparent and honest approach, ensuring an easy, quick and simple experience without any unnecessary games or complications.
- Expert Consultation: Our knowledgeable and experienced dealership staff prioritize a consultative and laid-back approach, eliminating pushy tactics and providing a comfortable atmosphere for our customers.
- Personalized Experience: We are committed to delivering customized customer experiences tailored to individual needs, creating a seamless and exceptional journey in both sales and service.
- Award-Winning Excellence: Acura of Bay Shore is a proud recipient of the Acura Team Precision Elite Award, recognizing the excellence of our sales, service and parts departments.
How to Finance a New Acura Near Me
Ready to upgrade your drive and take advantage of the federal auto loan interest deduction? Many of the latest Acura models meet qualification standards, and our experienced finance team will guide you through the entire process.
Our exclusive Customer Care Program provides unparalleled value with free oil and filter changes, car washes and multipoint inspections for life, ensuring your vehicle remains in optimal condition while you enjoy tax savings.1
Contact Acura of Bay Shore for details on eligibility, required documents or to get pre-approved for Acura financing on Long Island. Browse our new inventory online, visit us in person or schedule a personalized consultation to find out how much you might save with the new auto loan interest deduction on a brand-new Acura.
Learn More: Why Buy from Us? | New Acura Specials | Apply for Acura Financing
1 See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.