Save with Section 179 Deductions at Toyota of Lompoc
Searching for a new work vehicle for your business? At Toyota of Lompoc, you can save on your business-use vehicle with a Section 179 deduction. Through Section 179, the IRS allows you to deduct up to 100 percent of the full purchase price of vehicles that are used for business purposes at least 50 percent of the time. The deduction amount depends on the type of vehicle and whether you meet the criteria. At Toyota Lompoc, you could save big when you upgrade your business with a fleet or commercial vehicle.
How Section 179 Works
Nearly all vehicles can qualify for at least a partial deduction depending on the type of vehicle. Section 179 applies to new and used purchases or leases. Contact our team to review the Section 179 limits for the current tax year.
Who Is Eligible?
- Businesses who use the vehicle for business purposes at least 50 percent of the time
- Businesses who spend less than $4,270,000 (2024) on equipment
- Claim the deduction in the same tax year the vehicle is purchased or leased and placed into service
Deduction Limits By Type of Vehicle
- Light Vehicles (Under 6,000 pounds) partial deduction: passenger cars, crossover SUVs, small trucks
- Heavy Vehicles (6,000 to 14,000 pounds) partial deduction: Full-size SUV, commercial vans, and full-size pickup trucks
- Other Vehicles (Greater than 14,000 pounds or modified for specific use) up to 100 percent of the purchase price: Commercial vehicles that typically could not double as a personal vehicle, such as emergency vehicles, tow trucks, vans with more than nine-passenger seating, etc.
Which Vehicles Qualify for Section 179 at Toyota of Lompoc?
We have great vehicles suitable for all types of businesses. Check out our new Toyota inventory and save with Section 179 deductions on the following vehicles:
- Toyota Tundra
- Toyota Tacoma
- Toyota 4Runner
- Toyota RAV4
- Toyota Highlander
- Toyota Land Cruiser
- Toyota Sequoia
Contact Toyota of Lompoc and Save with Section 179
Don't miss out on your Section 179 savings this year. Upgrade your business today with a new or used vehicle at Toyota of Lompoc.
How can we help?
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** Price(s) include(s) all costs to be paid by a consumer excluding $85 documentation fee, except for licensing costs, registration fees, and taxes.
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Toyota of Lompoc
203 East Ocean Avenue
Lompoc, CA 93436
- Sales: 805-736-1295
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