At Heyward Allen Toyota, get a Tax Deduction of up to $10,000 Annual Interest Paid for USA-Built Vehicles
At Heyward Allen Toyota, get a Tax Deduction of up to $10,000 Annual Interest Paid for USA-Built Vehicles
If you recently purchased a Toyota vehicle, you may be eligible for up to $10,000 in annual tax deductions!
The following is for informational purposes only. Please consult with a tax professional.
- The One Big Beautiful Bill (OBBB) allows car buyers to deduct up to $10,000 in loan interest paid annually
- Only U.S. assembled cars are eligible for the program
- Applies to interest on vehicles purchased new in 2025 – 2028
How do I know if my Toyota was built in America?
The vehicle identification number (VIN) indicates where the vehicle was built. If your VIN starts with a 1, 4, 5, or 7, then it was assembled in the United States.
You can find the VIN printed at the base of the windshield on the driver’s side. The VIN can also be found on your auto insurance card and on the vehicle registration.
If you want to find the exact location where your vehicle was assembled, you can use the VIN Decoder tool provided by the NHTSA.
Toyota Models Built in the U.S.:
- Camry
- Corolla
- Highlander
- Sienna
- Sequoia
- Tundra
Please check your VIN to verify the country of origin.
Frequently Asked Questions
What are the income limits?
The deductions phase out for single taxpayers with a modified adjusted gross income over $100,000. For married taxpayers filing a joint return, the limit is $200,000.
Do the deductions apply to vehicles used for business / commercial purposes?
No, the vehicle must be for personal use to qualify.
Do used vehicles qualify?
No, the deductions only apply to new vehicles.
Do lease payments qualify?
No, lease payments do not qualify for any deductions.
Toyota Vehicles Built in the USA
America is home to the world’s largest Toyota manufacturing plant, located in Georgetown, Kentucky. The company has assembly plants throughout the U.S., including Indiana, Texas,
Mississippi, Alabama, and West Virginia. The company is investing $1.4 billion in its Princeton, IN facility, where it will build an all-new electric SUV.
How do I request a tax write off?
You can reach out to your loan provider for assistance with submitting your tax write off
