Important Information Regarding Car Loan Interest Statements
12/02/2025
Recent federal legislation allows borrowers to deduct up to $10,000 in car loan interest on qualified passenger vehicles for tax years 2025 through 2028, provided the loan was originated after December 31, 2024 and the vehicle meets IRS requirements.
To check or confirm your vehicle is qualified, you can use the VIN Decoder for the National Highway Traffic Safety Administration (NHTSA) plant of manufacture information.
To help you prepare for this potential benefit, your 2025 car loan interest statements are available through your online banking portal at solvaybank.com.
If you require additional copies, please contact our Customer Relations team at 315?484?2201.
For questions regarding eligibility or tax deductions, please consult your tax advisor, as we are unable to provide tax guidance.
Disclaimer: This notice is for informational purposes only and should not be considered tax, legal, or financial advice. Please consult a qualified professional for guidance specific to your situation.
