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 ...

A new tax deduction allows buyers to claim up to $10,000 a year on interest paid for new, American-made cars. The deduction applies to qualifying vehicles purchased between Jan. 1, 2025, and Dec. 31, ...

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 ...

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 ...