With Tax Day fast approaching, you might have questions or concerns about tax deductions related to financing your Ford car, truck, commercial van or SUV. Fear not, the helpful and friendly finance staff at Battlefield Ford of Manassas will assist in any way possible.

What is Tax Deductible When it Comes to Financing a Ford Vehicle?

In general, car loan interest payments are not deductible. Though if your Ford car, truck, commercial van or SUV is used for business purposes, you may factor car loan interest payments into your annual tax filing.

What is The 'Standard Mileage Rate'?

The Standard Mileage Rate is the deduction of cents per mile when using a personal car for business. Factored into the rate are fuel costs and vehicle wear and tear, for instance. If you use this rate on your tax return, you are still permitted to deduct for the following costs:

  • Car loan interest
  • Fees for parking, and tolls while on business trips

This deduction could add up to a significant amount. For example, if your newly financed Ford vehicle is used for business 50% percent of the time, you may deduct half the amount of car interest payments as a business operating expense. Battlefield Ford's finance staff is eager to clarify and allay concerns when financing your new Ford vehicle.

Financing With Battlefield Ford of Manassas

Battlefield Ford works with many banks and financial institutions within the region of Warrenton, Fairfax, Gainesville, Woodbridge, VA, and Ashburn. So, if you need a vehicle for a combination of personal and business use, our knowledgeable finance staff can make it happen. And, it's tax deductible.

Call today, or visit our Manassas dealership to learn more.

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