Big Tax Deductions, Low Payments!

At LPK Chrysler Dodge Jeep Ram of Defiance, in Defiance, Ohio, the Low Payment Kings are excited to share new ways for you to save—starting with your taxes!

Beginning in 2025, you could deduct up to $10,000 per year in interest on your auto loan when you buy a new U.S.-assembled vehicle from our Defiance, Ohio store.

🔧 Who’s Eligible?

• New, personal-use vehicle purchases from Jan. 1, 2025 through Dec. 31, 2028

• Final assembly must be in the U.S. (VIN starts with 1, 4, or 5)

• Income below $100K (individual) or $200K (joint) to receive full benefit

• Covers gas and electric vehicles

• Available to taxpayers even without itemizing

📣 Already Bought in 2025? We Can Help You Check!

If you financed a qualifying vehicle earlier this year, contact LPK of Defiance—we’ll help review whether your purchase meets the IRS guidelines for this exciting deduction.

New Auto Loan Interest Deduction*
• Qualifying taxpayers may deduct up to $10,000 in interest annually on loans for eligible, new personal-use vehicles with final assembly in the U.S.
• Applies to EV and ICE vehicles purchased between January 1, 2025, and December 31, 2028
• VINs starting with 1, 4, or 5 indicate U.S. final assembly.

Disclaimer:

For taxable years beginning after December 31, 2024, and before January 1, 2029, Section 163(h)(4) of the Internal Revenue Code of 1986, as amended, permits qualifying taxpayers to deduct interest paid or accrued during the taxable year on indebtedness incurred by the taxpayer after December 31, 2024, for the purchase of new qualifying vehicles, for personal use, with final assembly in the United States. Limitations may apply where a dealer has previously used a vehicle as a courtesy transportation vehicle.   Personal eligibility to claim this deduction depends on the customer’s own individual circumstances, including whether modified adjusted gross income exceeds the income thresholds contained in Section 163(h)(C)(ii). If customer qualifies, this deduction may be available irrespective of whether customer chooses to itemize deductions.  Additional limitations apply, including a maximum amount of interest permitted for deduction in a given year. Customers should be directed to consult with their own tax, accounting, or legal professional or advisor to confirm eligibility for this deduction or if they have questions regarding their qualification to claim the deduction. This information does not constitute tax, accounting, or legal advice