A new deduction will allow taxpayers to deduct the interest they paid on a car loan in 2025. But the car loan must be for a ...

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 ...

The basics of the car loan interest deduction is that it must be a new vehicle assembled in the United States, with the loan ...

Millions of car buyers in the U.S. could soon get some tax relief thanks to a provision in the so-called "big, beautiful bill" that was signed into law on July 4 by President Trump. The idea of giving ...

Beginning on 2025 tax returns, new car buyers might qualify for an above-the-line deduction of up to $10,000 in car loan interest in a year. Taxpayers will not be able to deduct interest on loans ...

Explore how consumer interest rates affect personal loans, auto loans, and credit card debts. Learn about non-deductible taxes and historical insights.