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Tip of the Day: Get a Tax Break on Your New Car

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Posted on : 06-09-2025 | By : georginesaves | In : Tip of the day

There is a new federal tax law that lets you deduct up to $10,000.00 per year in auto loan interest. This applies even with the standard deduction! To qualify, your vehicle must be NEW, for personal use, and assembled in the U.S. This tax break applies to loans taken out between 2025 and 2028. You get the full benefit if you earn under $100,000.00 a year. You can continue to claim the deduction for the life of your loan. Ask your dealer if your purchase qualifies!

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