Get a Tax Deduction of up to $10,000 Annual Interest Paid for USA-Built Vehicles
Get a Tax Deduction of up to $10,000 Annual Interest Paid for USA-Built Vehicles
If you recently purchased a Hyundai vehicle, you may be eligible for up to $10,000 in annual tax deductions.
Disclaimer: The following is for informational purposes only. Please consult with a tax professional.
Key Points:
- 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 paid in tax years 2025 - 2028
How do I know if my Hyundai 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.
Hyundai Models Built in the U.S.
- IONIQ 5
- Santa Cruz
- Santa Fe
- Tucson
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.
Hyundai Vehicles Built in the USA
Hyundai has manufacturing plants in Alabama and Georgia, where the company builds some of their most popular models, including the Tucson and Santa Fe.
In March 2025, the company announced plans to invest up to $21 billion in the U.S., which includes a new steel plant in Louisiana.
How Can We Help?
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Fred Beans Hyundai of Flemington
180 US 202 Building B
Flemington, NJ 08822
- Sales: 9089050875
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