Explore Tax-Deductible Vehicles at Patriot Honda of Danville
New Tax Deductions for Honda Vehicles
A new tax deduction for interest paid on new vehicle financing is now available on eligible models at Patriot Honda of Danville. You could save up to $10,000 in tax deductions when you finance a new vehicle at Patriot Honda of Danville. Discover eligible vehicles and more ways to save when you contact the finance team at our Honda dealership in Danville, IL.
How Does the New Tax Deduction for New Honda Financing Work?
The tax deduction allows new vehicle owners who finance in the eligible tax years to deduct the interest paid on the loan, up to $10,000 annually, when they file for taxes. The deduction makes new vehicles more affordable and helps promote car manufacturing in the U.S. due to the requirement for final assembly. Here are some of the requirements to qualify for the tax deduction:
- Vehicle Type: New cars, minivans, vans, SUVs, pickup trucks, and motorcycles for personal use.
- New Vehicles Only: Must be a new vehicle for the taxpayer filing for the deduction.
- Final Assembly in the U.S.: New vehicles must meet the final-assembly in the U.S. requirement, verified by VINs starting with 1, 4, or 5.
- Annual Deduction Limit: Up to $10,000 off interest paid annually.
- Income Limits: Deduction starts to phase out for individuals with modified adjusted gross income (MAGI) of $100,000 and joint filers with MAGI up to $200,000. The deduction phases out completely for single filers with MAGI above $150,000 and joint filers with MAGI above $250,000.
- Expiration: Deduction is available for new vehicles financed by December 31, 2024, through the 2028 tax year.
Eligible Honda Vehicles at Patriot of Danville
At Patriot of Danville, we proudly carry a wide selection of new Honda vehicles made at the many Honda plants in the Midwest and southern U.S. Browse our new inventory for the following qualifying vehicles:
Honda Accord - Final Assembly: Marysville, Ohio
The Honda Accord is a popular full-size sedan with excellent performance and technology features. The Accord is made at the Ohio Honda plant and continues to set the standard for affordable, well-equipped sedans that are great for families.
Honda Civic - Final Assembly: Greensburg, Indiana & East Liberty, Ohio
The Honda Civic is an impressive compact sedan, perfect as a first vehicle or dedicated commuter. The Civic offers versatility and flexibility, and its compact size makes it great for city driving.
Honda CR-V - Greensburg, Indiana & East Liberty, Ohio
The Honda CR-V is among the top SUVs sold in the United States, and for good reason. The Honda CR-V is just the right size for families and maneuvering in tight parking situations. It's also well-equipped with excellent technology features while staying budget-friendly and delivering a great driving experience.
Honda Odyssey - Lincoln, Alabama
The Honda Odyssey is one of the few remaining minivans you can buy new, and is designed to make families comfortable whether it's a quick run through town for errands or a long-distance adventure. It comes standard with a powerful V6 engine and plenty of tech to keep everyone connected and entertained.
Honda Passport - Lincoln, Alabama
The Honda Passport is a two-row SUV, perfect for busy families. With ample storage, great capabilities, and standard all-wheel drive, the Passport is ready for any adventure. It comes standard with luxuries like leather upholstery and advanced technology for easy entertainment and connection on the road.
Honda Pilot - Lincoln, Alabama
If you want a great family vehicle with a coveted third row, the Honda Pilot is the ideal SUV. It offers a powerful V6 engine that can handle recreational towing up to 5,000 pounds and a well-designed interior that comfortably accommodates up to eight passengers.
Honda Ridgeline - Lincoln, Alabama
Part SUV, part truck, the Honda Ridgeline offers the utility of a pickup in an easy-to-drive package. Enjoy all the best parts of an SUV, like spacious seating for up to five passengers, comfortable interiors, and high-tech features, with clever storage features and a truck bed with dual-action tailgate and lockable in-bed trunk.
Save On a New Honda at Patriot Honda of Danville
Take advantage of the new tax deductions to save on new Honda financing this year. For more information or to schedule a test drive with our eligible vehicles, contact Patriot Honda of Danville.
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Prices can be changed at any time. Price is good for today only. Pricing includes all offers and incentives. Some incentives may not be applicable. Tax, Title, License, and $347.26 Doc fee not included in vehicle prices shown and must be paid by the purchaser. While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at 217-443-6803 or by visiting us at the dealership. Prices do not include dealer installed options/accessories such as All Weather Mats, Window Tint, Mud Guards, Door edge Film, etc. **With approved credit. Terms may vary. Monthly payments are only estimates derived from the vehicle price with a 72 month term, 4.9% interest and 20% down payment. MPG Disclaimer Based on EPA mileage ratings. Use for comparison purposes only. Your mileage will vary depending on driving conditions, how you drive and maintain your vehicle, battery-pack age/condition, and other factors.
MPG Disclaimers
Based on EPA mileage ratings. Use for comparison purposes only. Your mileage will vary depending on driving conditions, how you drive and maintain your vehicle, battery-pack age/condition, and other factors.
Honda Prologue Range Rating: 296 mile EPA Range Rating for Prologue EX (2WD) and Prologue Touring (2WD). 281 mile EPA Range Rating for Prologue EX (AWD) and Prologue Touring (AWD). 273 mile EPA Range Rating for Prologue Elite (AWD). Use for comparison purposes only. Actual range will vary based on several factors, including temperature, terrain, battery age & condition, loading, use and maintenance.
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Patriot Honda of Danville
3724 N Vermilion St.
Danville, IL 61832
- Sales: (217) 443-6803
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