2025 tax deduction allows buyers to save on auto loan interest, making car ownership more affordable for qualifying vehicles.

All new and used vehicle purchases are charged a sales tax. The vehicle sales tax is a tax imposed by city and state governments on the purchase of the car. The rate can vary from state to state and ...

Trump's One Big Beautiful Bill includes a $10,000 car loan deduction — but strict rules mean most Americans won't qualify or ...

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 ...

A new tax break allows deductions on interest paid on new car loans for vehicles assembled in the U.S. until 2028. Experts believe the tax break is unlikely to significantly shift the market in favor ...

Federal EV tax credits in 2024 top out at $7,500 if you're buying a new car and $4,000 if you're buying a used car, while the bank or the automaker's finance company can take a $7,500 tax credit for ...

EV tax credits now expire in September 2025 due to new legislation. Here's the electric cars and PHEVs eligible in the ...

The OBBBA offers an “above-the-line” deduction for qualified tips, capped at $25,000 for singles ($50,000 for married couples). This is temporary for tax years 2025-28. The OBBBA also offers a ...

Purchasing a new car is often the second most expensive purchase many Americans make. President Donald Trump’s One Big Beautiful Bill Act (OBBBA) offers new benefits to prospective car buyers that ...

Drivers of electric or low-emission vehicles have started to pay Vehicle Excise Duty (VED) this April as measures announced last October have come into effect. Electric vehicles were previously exempt ...