Buying a new vehicle is now even more rewarding for Nevada drivers thanks to the federal new auto loan interest deduction. Fallon Ford-Toyota makes it easy to take advantage of this valuable incentive, helping you save on your next Ford truck or Toyota SUV. Come find out how you can drive away in a vehicle built with the reliability and innovation you expect.
Curious about how this deduction works or which models qualify? The team at our Toyota and Ford dealer near Reno is here to help shoppers through the details and maximize your savings on a new car, truck or SUV.
What Is the Federal Auto Loan Interest Deduction?
A recently introduced federal program allows qualified buyers to deduct up to $10,000 per year in interest paid on auto loans for eligible new vehicles financed now through December 31, 2028.1 The benefit is designed for broader accessibility -- you don't have to itemize your tax return to claim this deduction.
To qualify, your new vehicle must be assembled in the United States. Many of our most popular Ford trucks, SUVs, and even select Toyota models are American-made, making them strong candidates for this exclusive tax-saving opportunity.
Eligible new Ford vehicles may include:1
- 2025 Ford F-150
- 2025 Ford F-150 Lightning
- 2025 Ford F-150 Hybrid
- 2025 Ford Explorer
- 2025 Ford Ranger
- 2025 Ford Bronco
- 2025 Ford Mustang
- 2025 Ford Escape
- 2025 Ford Expedition
- 2025 Ford Expedition MAX
Eligible new Toyota vehicles may include:1
- 2025 Toyota Corolla Cross (Gas & Hybrid)
- 2025 Toyota Camry
- 2025 Toyota Highlander (Gas & Hybrid)
- 2025 Toyota Grand Highlander (Gas & Hybrid)
- 2025 Toyota Sienna
- 2025 Toyota Tundra (Gas & Hybrid)
- 2025 Toyota Sequoia
- 2025 Toyota Corolla (Sedan & Hatchback)
- 2025 Toyota RAV4 Hybrid
- 2025 Toyota
- 2025 Toyota
Requirements for Claiming the Auto Loan Interest Deduction
If you're considering financing a new Ford or Toyota near Reno, keep these essential guidelines in mind:
- Income caps: The deduction phases out for individuals with $100,000 or more in modified adjusted gross income, or $200,000 for joint filers.
- Eligible vehicles: Only new vehicles assembled in the United States qualify -- including many Ford and select Toyota models (ask our team for the latest qualifying vehicles).1
- Documentation needed: You'll need your signed loan agreement and interest statements for your tax claim.
- Time frame: Your qualifying Ford or Toyota must be financed by December 31, 2028, to be eligible for this program.1
Apply for an Auto Loan in Nevada
Ready to take advantage of the federal auto loan interest deduction on your next Ford F-150 or Toyota RAV4 Hybrid? Contact Fallon Ford-Toyota to learn more, review eligible vehicles and begin your financing journey. Drive home a new American-assembled vehicle with real value and long-term savings.
Have more questions about eligibility or tax rules? Reach out to our expert auto financing team or visit our Fallon car dealership for personalized assistance!
Learn More:Model Research | Why Buy from Us? | Should I Repair or Replace My Car?
1 See dealer for details. Eligibility and requirements are subject to change. We recommend speaking with a tax professional.