Put $5500 down in cash and finance the rest. Then you will get the tax cut.Why cut the tax break off at $49,500? I make well under the income cap, but the vehicle I need (could really use) for my large family is over $55K. I would definitely be more likely to buy that than keep my old clunker.
Of course one has to wonder why your large family car cost 55k and why someone making under 250k a year would spend 55k on an automobile, but who am I to judge?