Understanding the Big Beautiful Bill: How It Impacts Your Next Vehicle Purchase in Kirksville, MO

If you’re planning to buy a new vehicle in Kirksville or surrounding communities like Brashear, Greentop, and La Plata, the Big Beautiful Bill is big news for your wallet. This federal legislation, active from 2025 through 2028, allows buyers to deduct interest paid on loans for qualifying new vehicles assembled in the United States. At Kirksville Motor Company, your trusted Chevrolet, Buick, GMC, and Toyota dealership in Kirksville, MO, we’re here to walk you through what the bill means, which vehicles qualify, and how it can maximize your savings.

The Big Beautiful Bill is designed to encourage Americans to buy vehicles that are made in the U.S. Here’s what it offers:
Tax deduction of up to $10,000 annually on auto loan interest for new vehicles assembled in the U.S.

• Applicable from 2025 to 2028 for new purchases only.
• Covers most types of vehicles under 14,000 pounds GVWR — including sedans, SUVs, trucks, and minivans.
• Supports American jobs by rewarding purchases of vehicles built domestically.

For families in northeast Missouri — whether you’re commuting to work in Kirksville or heading out for weekend adventures on the backroads — this bill means real financial benefits.

To qualify under the Big Beautiful Bill, vehicles must meet these criteria:

• Must be new, not used.
• Must be for personal, non-commercial use.
• Must weigh under 14,000 pounds GVWR.
• Must be finally assembled in the U.S. (verified by VIN and vehicle info label).

At Kirksville Motor Company, many of our most popular models qualify, including:

• Chevrolet Silverado 1500 – Built tough and assembled in U.S. plants, perfect for Missouri drivers needing power and dependability.
• GMC Sierra 1500 – A capable truck that combines utility with premium comfort.
• Toyota Camry and Toyota RAV4 – Both with U.S. assembly, offering excellent reliability and efficiency.

Here are some practical takeaways for northeast Missouri buyers:

• Income limits apply – The deduction phases out above $100,000 for individuals and $200,000 for joint filers.
• Loan only – Leases don’t qualify. The deduction only applies to financed purchases.
• Documentation matters – Buyers must list the VIN on their tax return to claim the deduction.
• Timing is key – Only loans originated after December 31, 2024 are eligible.

Example: A family from La Plata financing a new GMC Acadia in 2025 could deduct thousands of dollars in loan interest over time, helping reduce overall ownership costs.

• Maximum deduction: $10,000 per year in interest paid.
• Applies to loans on qualifying new vehicles purchased from 2025 to 2028.
• Deduction phases out for high-income households.
• Lenders report your interest to the IRS; you report it on your tax return with your VIN.

Our finance center at Kirksville Motor Company can help ensure your loan is structured to maximize these benefits.

The Big Beautiful Bill works alongside existing EV tax credits. Buyers in Missouri who purchase qualifying EVs or plug-in hybrids could also receive up to $7,500 in federal credits in addition to the loan interest deduction.
Models like the Chevrolet Bolt EUV or Toyota Prius Prime may qualify, giving you multiple ways to save.

Loan interest rates vary by credit score and loan length. For Q1 2025, averages are:

• Super prime (781+) – 5.25% APR new
• Prime (661-780) – 6.85% APR new
• Near prime (601-660) – 9.50% APR new

Local lenders in Missouri, including credit unions in Kirksville, often offer lower-than-average rates, giving buyers another advantage.

At Kirksville Motor Company, we’re committed to helping you get the most from this historic legislation:

• Wide selection of qualifying Chevrolet, Buick, GMC, and Toyota vehicles.
• Local expertise to guide you through loan and tax benefit eligibility.
• Financing support to help structure loans that work with the Big Beautiful Bill.
• Exclusive dealership offers that stack with federal benefits.

If you’re ready to explore your options under the Big Beautiful Bill, stop by Kirksville Motor Company at 3607 N Baltimore St in Kirksville, MO. Our sales and finance teams are ready to answer questions and guide you through your purchase.
Contact us today to schedule a test drive and learn how this new tax deduction can make your next Chevrolet, Buick, GMC, or Toyota more affordable than ever.