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.
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.
The Internal Revenue Service has released proposed regulations clarifying how a new auto loan interest deduction will work, ...
When President Donald Trump signed the One Big Beautiful Bill Act in July 2025, the administration promoted a sweeping new ...
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IRS proposes car loan interest rules
The Internal Revenue Service released proposed regulations on car loan interest, setting the stage ...
If you are planning to take out an auto loan to purchase a car, you now may get a tax break thanks to President Trump's recently passed tax cut law. One of the many provisions introduced under the ...
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Trump’s $10K car tax break sounds appealing — but may require a six-figure vehicle
President Donald Trump’s new car loan tax break sounds like a rare win for drivers, […] ...
Discover how to secure preapproval for a car loan, understand eligibility criteria and strengthen your negotiating position when shopping for a vehicle Written By Written by Staff Senior Editor, Buy ...
When President Donald Trump signed the One Big Beautiful Bill Act in July 2025, the administration promoted a sweeping new ...
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