10K Tax Deduction
You May Be Eligible For A Tax Deduction up to $10,000 in Annual Interest Paid on Certain GMC Vehicles!
Unlock Up to $10,000 in Annual Tax Deductions on Your New Chevrolet
If you're financing a new Chevrolet at George Nunnally Chevrolet in Bentonville, you may be able to deduct up to $10,000 per year in loan interest on your federal taxes. This benefit was created by the One Big Beautiful Bill Act, signed into law on July 4, 2025, and applies to interest paid during tax years 2025 through 2028 on qualifying vehicles. It's available to buyers across Northwest Arkansas — from Bentonville and Rogers to Springdale, Fayetteville, and Siloam Springs.
Here's what you need to know:
- You can deduct up to $10,000 of the interest you pay on your auto loan each year.
- The vehicle must be new and assembled in the United States.
- Only vehicles financed after December 31, 2024 qualify. The loan must be secured by the vehicle (unsecured personal loans do not qualify).
- The vehicle must be for personal use — not business or commercial.
- This is an above-the-line deduction — you can claim it whether you take the standard deduction or itemize.
- You must include your vehicle's VIN on your tax return for each year you claim the deduction.
How to Check If Your Chevrolet Qualifies as U.S.-Built
The easiest way to confirm a vehicle was assembled in America is by looking at its VIN (Vehicle Identification Number). Vehicles built in the U.S. have a VIN that starts with 1, 4, 5, or 7. You can also check the vehicle information label attached to every new vehicle on a dealer's lot, which lists the final assembly location.
You can find your VIN in these common locations:
- On the dashboard, visible through the windshield on the driver's side
- On your auto insurance card
- On your vehicle registration documents
For the most precise information about where your specific vehicle was manufactured, use the free VIN Decoder tool from the National Highway Traffic Safety Administration (NHTSA).
Chevrolet Models Built in the U.S. at George Nunnally Chevrolet
The following new Chevrolet models on our Bentonville lot are assembled in the United States and typically qualify for the deduction when financed for personal use:
- Chevrolet Silverado 1500 — Fort Wayne, Indiana
- Chevrolet Silverado 2500 HD — Flint, Michigan
- Chevrolet Silverado 3500 HD — Flint, Michigan
- Chevrolet Tahoe — Arlington, Texas
- Chevrolet Suburban — Arlington, Texas
- Chevrolet Traverse — Lansing, Michigan
- Chevrolet Colorado — Wentzville, Missouri
Note: The Equinox is assembled in Mexico, and the Trax and Trailblazer are assembled in South Korea — none of these models qualify for this deduction. Always verify final assembly with the VIN before purchasing.
Ready to explore qualifying inventory? Browse our full new Chevrolet lineup or contact our team and we'll confirm which vehicles on the lot qualify.
Frequently Asked Questions
What are the income limits?
Do the deductions apply to vehicles used for business / commercial purposes?
Do used vehicles qualify?
Do lease payments qualify?
*A tax deduction of up to $10,000 annual interest paid available to eligible buyers on qualifying new vehicles assembled in the U.S. Excludes used cars, leases and business purchases. Applies to interest paid in tax years 2025-28 on new debt contracted after 12/31/24. Consult a qualified tax professional or irs.gov for income restrictions and full terms and conditions. This information does not constitute tax, accounting, or legal advice.