At Dover Chevrolet, the Chevy Drives America program provides a serious tax deduction to qualifying shoppers.
To this, certain new Chevrolet models may be applicable given assembly here on American soil and the type of auto loan it would take to acquire your preferred Chevy model near Portsmouth.
What to Expect
The Chevy Drives America program is designed to offer up to $10,000 in tax deductions with annual interest paid. This will apply to individual shoppers in Rochester who itemize deductions or use the standard deduction when federal income taxes are prepared every tax season.
There are income limits that are applied to single filers as well as married filing a joint return. And you must be financing your choice of select Chevrolet models included in the program. This tax deduction on annual interest paid is not provided to commercial or fleet purchases and there's no leasing benefit either.
Other caveats to the Chevy Drives America program are noted below for easy reference:
- Interest will have to be paid in tax years of 2025-2028.
- Financing must be new debt incurred and not related to refinacing.
- Eligible Chevrolet vehicles must have been assembled in the U.S.
While the details here do not constitute legal, tax or accounting advice, it's best to consult with professionals in these areas of practice. The premise is toward the Chevrolet brand providing every opportunity to families in Somersworth to save.
The same would be true of the federal EV tax credit program, which is set to expire on September 30. As such, up to $7,500 worth of tax credits have been secured with select Chevrolet EVs now available near Exeter.
Dover Chevrolet – Contact Us to Learn More
You may contact us to find out added details related to the Chevy Drives America tax-deduction program.
There's also the convenience of completing our online finance application before shopping our new Chevrolet inventory.