You may notice vehicle loan interest-paid information listed under your Loan Details. This isn’t a change to your loan — it’s part of a new IRS reporting requirement that went into effect recently.
Important to know: This IRS requirement applies only to certain new vehicle loans, not used or previously owned vehicles.
What Changed—and Why It Matters
A new federal law (Section 70203 of H.R. 1, signed July 4, 2025) created a temporary tax deduction for interest paid on certain qualified new vehicle loans.
Because of this:
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Financial institutions are now required to report qualified new vehicle loan interest to the IRS when $600 or more in interest is paid during the year.
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Credit unions must also provide members with a record of that interest for their tax files.
That’s why you’re seeing this information available in your Loan Details — it’s there to help you stay prepared for tax season.
Where to Find Your 2025 APCU/Center Parc Vehicle Loan Interest
You can locate the Year-to-Date interest-paid amount in your:
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Online and Mobile Banking
(Log in and select “Account Details” under your vehicle loan. Look for “Interest Paid Prior Year".) -
December 2025 Statement
(Your total interest paid for the year will appear in the “Loan Details” section of your December statement.)
This information is for your records and may be helpful when filing your taxes.
How to Find Your Vehicle’s VIN Number
Your Vehicle Identification Number (VIN) may be needed to determine whether your vehicle qualifies under the IRS rules. You can find your VIN in several places:
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On your vehicle registration
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On your insurance card or policy
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On the dashboard, visible through the windshield (driver’s side)
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Inside the driver’s door frame
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In your loan documents
Tip: It’s a good idea to keep your VIN handy with your other important financial records.
Is Vehicle Loan Interest Tax-Deductible?
Deductibility depends on a few factors.
Under the new law, interest may be deductible if:
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The loan is a first-lien vehicle loan
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The vehicle is for personal use
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The vehicle meets IRS requirements (including final assembly in the U.S.)
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The interest was paid after December 31, 2024
This temporary deduction is capped at $10,000 and can be claimed even if you don’t itemize deductions.
Everyone’s tax situation is different, so we recommend checking with a qualified tax professional to see how this applies to you.
This update is about transparency and preparedness — not a change to your loan.
By making your vehicle interest-paid information easy to find, we’re helping you:
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Stay informed
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Be tax-ready
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Have the documentation you need, when you need it
If you have questions about where to find your loan details or need help accessing your account, we’re here for you. Let’s keep things simple and moving forward — together.