Does Your New Honda SUV Qualify for OBBBA Tax Credits?

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If you’re shopping for your next vehicle, you’ll want to know if the new Honda SUV you’ve picked out is eligible for tax credits under the One Big Beautiful Bill Act (OBBBA). So, what is this tax benefit, and how do you take advantage of it? Here’s what to know from the friendly experts at Casey Honda.

The OBBBA Tax Credit, Explained

The OBBBA car loan interest tax deduction lets qualifying buyers deduct up to $10,000 per year in auto loan interest. Here are some of the criteria:

  • The vehicle must be new.
  • You must be its first owner.
  • Your loan must begin after December 31, 2024.
  • The final assembly of the vehicle must take place in the United States.
  • Leased vehicles, or vehicles purchased for commercial/fleet use, do not qualify.

There’s a Gross Vehicle Weight Rating (GVWR) weight limit of 14,000 pounds, which means that many new Honda models are eligible. The OBBBA applies to tax years 2025 through 2028, so there’s never been a better time to buy an SUV.

Eligible Models

As long as your model’s final assembly occurs in the U.S., it’s eligible for the OBBBA tax credit. Specific new SUVs that qualify include the Honda CR-V, Honda Passport, and Honda Pilot. However, since some trims of certain SUVs undergo final assembly outside the US – this is especially true for the Honda CR-V – we encourage you to check eligibility with your Honda dealer and your tax professional.

If you’re interested in taking advantage of the tax deduction but aren’t quite sure that an SUV is the right style for you, stop by our Newport News Honda dealership and let our team know that you’re looking for a sedan (like the Honda Accord or Honda Civic), a family minivan (the Honda Odyssey), or a pickup truck (the Honda Ridgeline).

How to Get the Tax Deduction on Your New Honda SUV

You’ll be able to claim the OBBBA benefit when you file your taxes. Just include your loan documentation and your VIN in your tax return, and the IRS will include your interest tax credit when they process your paperwork.

Find Your New Honda SUV in Newport News, VA

We’re the experts in new Honda SUV options, and in helping you take advantage of the OBBBA interest tax credit! Come by today to check out our inventory and pick out your next set of wheels. Our Honda finance experts will be happy to walk you through your custom loan offer and set you up for the tax deduction.