Applies to personal-use cars, SUVs, and trucks under 14,000 lbs.
Many dealers allow you to transfer the credit to them to lower the purchase price immediately rather than waiting until tax season. 2. State & Local Assistance
Phased out for individuals earning over $100k or couples over $200k. government help buying a car
Under the One Big Beautiful Bill Act , you can deduct up to $10,000 per year of interest paid on auto loans for new, U.S.-assembled vehicles purchased between 2025 and 2028.
The most significant federal help comes through the in the form of tax deductions and credits. Applies to personal-use cars, SUVs, and trucks under
Securing government help for a car involves navigating different levels of support, ranging from broad federal tax breaks to specialized state grants for low-income families or electric vehicle (EV) buyers. 1. Federal Programs (Available Nationwide)
States often have more direct grants for low-income residents, especially for those switching to "clean" vehicles. Driving Clean Assistance Program State & Local Assistance Phased out for individuals
You may qualify for a credit of up to $7,500 for a new EV or $4,000 for a used EV.