The law does not automatically provide a tax break for interest on every car loan. Only new car buyers who meet these specific qualifications can benefit.

If you purchased a new car after Dec. 31, 2024, you can now deduct the interest you paid on the auto loan when you file your taxes.

Discover how to sell your car with an outstanding loan.

Record-high car prices coupled with high interest rates are leading to huge monthly car payments for many Americans. A record share of Americans — more than 20% — agreed to pay more than $1,000 per ...

A viral post claims a $10,000 tax credit for buying American cars. The truth is a more modest deduction for loan interest. We ...

Offers 0.50-percentage-point rate discount with automatic payment. (Rate shown doesn’t reflect this discount.) No vehicle restrictions, such as age or mileage. No origination fees. Offers a rate beat ...

Car loans for Ford and GM models may be easier to get from new banks that the automakers are now cleared to establish.

In the fourth quarter of 2025, 20.3% of new‑car shoppers agreed to monthly payments topping $1,000 — the highest share ever ...

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Brendan is a full-time senior editor of financial products and services at ...

New data shows a growing number of drivers now paying $1,000 or more each month on auto loans, adding financial strain in a ...

To cope with the high cost of buying new and used vehicles, some buyers are taking out loans of six years or more. 2 News Oklahoma's Cathy Tatom looks at why this could be a financially risky move.

Nearly 30% of trade-ins for new cars have negative equity, the highest rate in years. Learn why so many Americans are ...