F-150 Lightning Loan Interest Deduction Calculator
For electric truck buyers financing after the EV credit ended.
The short answer: At the numbers below, the deduction is $4,600 — $552 back at 12% ($21 per paycheck).
New, US-assembled vehicle only
Modified Adjusted Gross Income
Car Loan Interest Deduction
$4,600
✅ You qualify for the full deduction
⚠️ This calculator provides estimates for informational and educational purposes only. It is not tax advice. Results are based on the One Big Beautiful Bill Act (OBBBA) and IRS Schedule 1-A. Consult a qualified tax professional for your specific situation.
After the EV Credit Died
Post-September 2025 Lightning buyers get no purchase credit — the interest deduction is the consolation prize that actually exists.
- • Interest to $10,000 deductible
- • Phase-out matters at Lightning-buyer incomes
- • Home charger installation on a home-equity line → mortgage interest rules, not this deduction
Worked Example
MFJ Lightning buyer, $4,600 of interest.
- • Deduction $4,600; $552 at 12%
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Frequently Asked Questions
Can I deduct F-150 Lightning loan interest?
Yes — qualified loan interest up to $10,000 under the OBBBA, subject to MAGI phase-out.
Is there any EV credit left for Lightnings?
No — the clean-vehicle purchase credit ended September 30, 2025 under the OBBBA.