Does the Hyundai Ioniq 5 qualify for the car loan interest deduction?

The 2025–2028 deduction turns on where a vehicle is finally assembled — not the badge. Here's where the 2025–2026 Hyundai Ioniq 5 is built and what it means for your loan interest.

Assembly data: NHTSA vPIC + our verified plant lists · Not tax advice · Methodology

DEPENDS — assembly varies by VIN

The Hyundai Ioniq 5 may qualify, depending on your VIN. Assembly is one of four gates — you also need a new vehicle, personal use, a 2025–2028 loan, and income under the phase-out.

The short answer

The Hyundai Ioniq 5 is a split case: 2025-and-newer units are built at Hyundai's Metaplant in Ellabell, Georgia, while earlier ones were imported from Korea. Because assembly varies unit-by-unit, an Ioniq 5 only clears the OBBBA assembly test when your specific VIN decodes to the Georgia plant. As an EV, eligibility turns on assembly, not the powertrain.

Where the Hyundai Ioniq 5 is assembled

Assembly plant	Location	Assembly test
Hyundai Motor Group Metaplant America	Ellabell, GA	✓ United States

⚠️ Starting with 2025, the Ioniq 5 is built at Hyundai's Metaplant in Ellabell, GA, but earlier units were imported from Korea. Assembly varies by unit, so the VIN is decisive.

Confirm the other three tests

A US-assembly result is only the first gate. Each remaining condition has its own guide:

New & personal-use — used cars and leases don't qualify→ Loan dated 2025–2028 — refinancing keeps eligibility→ Income under the phase-out — run the MAGI calculator→

Check your exact VIN → Estimate your deduction

Frequently asked questions

Is the Hyundai Ioniq 5 made in the USA?

Increasingly, yes. Hyundai now builds the Ioniq 5 at its Metaplant in Ellabell, Georgia, but earlier units were imported from Korea. Decode the VIN to confirm where yours was assembled.

Does the Ioniq 5 qualify since it's electric?

It can, but only on the assembly test — the deduction turns on US assembly, not the powertrain. A Georgia-built unit passes; a Korean-built one fails.

How do I tell where my Ioniq 5 was built?

Decode the VIN: a US-built VIN starts with 1, 4, or 5. Our VIN checker reads the final-assembly country for you.

Advertiser disclosure

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