Buick & GMC Section 179 Savings

Invest in your business today with excellent Buick and GMC vehicles at Motor City Buick GMC. Our team can help you find solutions that meet your commercial vehicle needs and help you harness valuable savings with Section 179 tax deductions for qualifying businesses. Learn more about Section 179 and upgrade today with our new and used commercial vehicle inventory.

How Does Section 179 work?

With Section 179, businesses can deduct up to the full purchase price of equipment, including vehicles, used primarily for business use. In 2024, bonus depreciation is still in effect at the 60 percent rate. Next year, it will drop to 40 percent or 20 percent each year until phase-out on December 31, 2026. Here are the limits and requirements:

  • At least 50 percent business use
  • Purchase and place into service between January 1, 2024, through December 31, 2024
  • Maximum deduction limit for 2024 is $1,220,000
  • The total spending cap for businesses is $4,270,000
  • The deduction limit starts to phase out dollar for dollar once a business spends $3,050,000 and goes away entirely once the business reaches the spending cap for equipment purchases during the year

Which Vehicles Are Eligible for Section 179?

Any vehicle that meets the 50-percent business use criteria qualifies for a Section 179 deduction. This includes used and leased vehicles. The amount of the deduction depends on the vehicle's weight, body style, or specific modifications that make it an obvious business-only vehicle. Here are the limits for 2024:

Light-Duty Vehicles Under 6,000 pounds

  • The GMC Terrain, including Denali trims, qualifies for up to $20,500 including bonus depreciation
  • The Buick Enclave, including Enclave Avenir, qualifies for up to $20,500, including bonus depreciation.

Medium-Duty Vehicles 6,000 to 14,000 pounds

  • The GMC Acadia, including Denali trims, qualifies for up to $30,500 plus 60 percent bonus depreciation
  • The GMC Yukon and Yukon XL, including Denali trims, qualify for up to $30,500 plus 60 percent bonus depreciation
  • The GMC Canyon qualifies for up to $30,500 plus 60 percent bonus depreciation

Heavy-Duty Vehicles 14,000+ pounds or Modified for Specific Business Use

All vehicles weighing more than 14,000 pounds or modified for a specific purpose, including cargo and passenger vans, qualify for a deduction that is 100 percent of the purchase price, including the following:

  • GMC Sierra 1500, 2500, and 3500
  • GMC Sierra 3500 HD Chassis Cab
  • GMC Savana Cargo Van
  • GMC Savana Passenger Van with more than nine seats
  • GMC Savana Cutaway

Shop GMC Commercial Trucks Near Me

You don't have to wait to make the upgrades you need to grow your business. Contact our fleet and commercial vehicle experts today to learn more about Section 179 benefits and find qualifying vehicles.

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