Which Ford Models Qualify for Section 179 Savings?
Many "singular-use" vehicles are eligible for full Section 179 deductions -- think large commercial trucks or business-specific vehicles that aren't typically used for personal purposes. Traditional passenger vehicles can also qualify for partial deductions, however, so long as they're used for business purposes more than 50% of the time.
Both new Ford trucks and used vehicles are eligible for Section 179 -- what matters is that the vehicle is new to you. Ford models that currently qualify for full or partial deductions include:
- Ford Expedition
- Ford Expedition MAX
- Ford F-250
- Ford F-350
- Ford F-450
- Ford F-550 S
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
2023 Section 179 Tax Limits & Overview
How much you can deduct depends on the type of vehicle purchased, along with certain design and weight requirements. The 2023 Section 179 limits and restrictions include:
- 2023 Deduction Limit: $1,160,000 -- applicable to new and used equipment (must be new to the buyer).
- 2023 Bonus Depreciation: 80% -- valid for new and used equipment.
- Passenger vehicles (such as pickups or heavy SUVs) weighing more than 6,000 but less than 14,000 pounds can achieve a maximum first-year deduction of up to $28,900 in 2023.1
Commercial Ford Sales Near Me
Ready to take your business to the next level? A new Ford Super Duty® truck or used Transit van can help you do just that. Contact Laird Noller Ford Lawrence today by giving us a call or stopping by our showroom. We can't wait to help you find the perfect vehicle that will enable your business to thrive!
1 Information accurate at the date of publishing. Refer to https://www.section179.org for the most up-to-date specifics.