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 ...

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 ...

(CNN) — President Donald Trump’s mega tax-and-spending cuts bill, signed into law last week, contains plenty of new tax provisions, the contours of which Americans are still digesting. One of them is ...

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 ...

If you opt for the standard mileage rate (67 cents per mile for tax year 2024), you calculate your deduction based on the ...