Trump and the GOP are now offering a tax deduction for auto loan interest. How will it work?

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

Drivers are looking at a long list of rules if they're hoping to claim a new tax deduction for car loan interest on 2025 federal income tax returns.

Drivers buying new U.S.-assembled vehicles could unlock major tax savings in 2026. Trumps new tax law allows up to $10,000 in ...

The Treasury Department and IRS issued guidance clarifying a new tax deduction for interest paid on qualifying car loans ...

The Republicans' signature tax cut and spending package – dubbed the "big, beautiful bill" – that was signed into law last week touts tax deductions on tips and overtime pay, and also includes a tax ...

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 ...

Car buyers may now benefit from a new tax break that allows them to deduct up to $10,000 in auto loan interest each year from their federal income taxes — reducing their taxable income. The provision, ...

Car loans are getting longer as prices and interest rates rise. Lower monthly payments may look appealing, but longer terms ...

Auto loans can be a huge expense — the average American with a new car paid $748 per month, while the owner of a used car ...