Section 179 Tax Benefits
Section 179 Tax Deduction at Legacy Chevrolet GMC
Are you looking to grow your business's fleet of vehicles but concerned about expenses? Cast your worries aside by taking advantage of the 2024 Section 179 tax deduction at Legacy Chevrolet GMC. With this exclusive tax code aimed at small- and medium-sized businesses, you can write off up to the entire purchase price of qualifying vehicles at our Chevy and GMC dealership near Mendenhall.1
While the exact deduction depends on the vehicle's weight and size, it's an incredible opportunity to enlist new trucks, vans and SUVs in your fleet for a lower price. Reach out to our GM financial experts now to review eligible models, spending caps and more, so you can get all the information you need!
What Are the 2024 Section 179 Tax Incentive Limits?
Designed for small- and medium-sized businesses, the Section 179 tax deduction allows for a partial or entire write-off of a vehicle's purchase price from the company's annual taxes1.The amount that can be deducted varies depending on vehicle weight and other criteria, which our GM financing experts will be happy to go over with you.
Pay attention to the following figures below, and remember that your vehicle must be purchased and placed into service no later than December 31, 2024, to qualify for this year's deduction 1.
2024 Deduction Limit: $1,220,000 1
Valid on new and used equipment (must be new to buyer) -- can be purchased or leased
2024 Spending Cap: $3,050,000 1
After this cap is reached, deduction is reduced on dollar-for-dollar basis
2024 Bonus Depreciation: 60% 1
Generally taken after Spending Cap is reached
Applicable to new and used vehicles
Tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible assets
Qualifying Chevy & GMC Models for Section 179
Section 179-eligible Chevy vehicles
Empower your business with a new Chevy Silverado 1500 or Express Passenger Van in Collins. More eligible Chevy vehicles include:
| Up to 100% of Purchase Price1 | Up to $25,000 (plus up to 80% of the remaining purchase price) |
Up to $20,200 per vehicle 1 (no aggregate limitation)1 |
|---|---|---|
| Express Cargo Van | Blazer | Bolt EV |
| Express Cutaway | Colorado | Bolt EUV |
| Express Passenger Van | Express Passenger Van | Camaro |
| Low Cab Forward | Silverado 1500 | Colorado |
| Silverado 1500 | Suburban | Corvette |
| Silverado 2500 HD | Tahoe | Equinox |
| Silverado 3500 HD | Traverse | Malibu |
| Silverado 4500 HD | Trailblazer | |
| Silverado 5500 HD | ||
| Silverado 6500 HD | ||
| Silverado HD Chassis Cabs |
GMC models eligible for Section 179
Want to enlist a new GMC Sierra HD or Savana Cargo Van in your fleet? Check out GMC models that qualify for Section 179:
| Up to 100% of Purchase Price1 | Up to $25,000 (Plus up to 80% of the remaining purchase price plus standard depreciation deduction)1 |
|---|---|
| GMC Sierra 1500/2500/3500 - Standard & Long Bed | GMC Sierra 1500 - Short Bed |
| GMC Sierra 3500 HD Chassis Cab | GMC Yukon |
| GMC Savana Cargo Van | GMC Yukon XL |
| GMC Savana Passenger Van (10+ passenger seating only) | GMC Acadia |
| GMC Savana Cutaway | HUMMER EV Pickup |
| HUMMER EV SUV | |
| GMC Canyon | |
| GMC Savana Passenger Van (all except 10+ passenger seating) |
GMC & Chevy Commercial Trucks Near Me
Contact Legacy Chevrolet GMC in Collins to learn more about how the Section 179 can take your business productivity to a whole new level. Whether a heavy-duty GMC truck or a fuel-efficient Chevy SUV would be the best match for your fleet, we can help you save money and elevate your business!
Learn More: Why Buy from Us? | Model Research
Legacy Chevrolet GMC
3114 highway 49, collins, MS 39428
Contact UsHours
| Monday | 9:00AM - 7:00PM |
| Tuesday | 9:00AM - 7:00PM |
| Wednesday | 9:00AM - 7:00PM |
| Thursday | 9:00AM - 7:00PM |
| Friday | 9:00AM - 7:00PM |
| Saturday | 9:00AM - 6:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 5:00PM |
| Tuesday | 7:30AM - 5:00PM |
| Wednesday | 7:30AM - 5:00PM |
| Thursday | 7:30AM - 5:00PM |
| Friday | 7:30AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |
| Monday | 7:30AM - 5:00PM |
| Tuesday | 7:30AM - 5:00PM |
| Wednesday | 7:30AM - 5:00PM |
| Thursday | 7:30AM - 5:00PM |
| Friday | 7:30AM - 5:00PM |
| Saturday | Closed |
| Sunday | Closed |