For the 2025 tax year, eligible U.S. taxpayers can deduct up to $10,000 in auto loan interest under a temporary provision enacted as part of President Donald Trump's One Big Beautiful Bill Act.

New cars and trucks are increasingly expensive, but there is some relief in the form of a new tax deduction for the interest paid on auto loans. The recently signed budget legislation lets qualifying ...

Last year, data show Americans drove away from dealerships with more than 16.3 million new vehicles, with roughly 80% of buyers reportedly relying on financing to purchase. So far in 2026, average car ...

The basics of the car loan interest deduction is that it must be a new vehicle assembled in the United States, with the loan being a first lien on the vehicle. The deduction has an annual limit of $10 ...

Taxpayers who purchased a new vehicle in 2025 may qualify for a new deduction on their taxes — even if they're not itemizing. But not everyone... This tax season, there's a new deduction for interest ...

A new tax break is available this filing season for taxpayers who have car loans on vehicles that meet certain specifications. The One Big Beautiful Bill Act (OBBBA), which was passed through Congress ...

(InvestigateTV) — Taxpayers preparing their 2025 returns will encounter several new changes, including a federal law allowing some borrowers to deduct interest paid on auto loans. The new deduction ...

There's a brand-new tax deduction in place this filing season: Taxpayers who bought a new car in 2025 can, in some cases, deduct interest on their auto loan. The deduction was created by the One Big ...