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

The basics of the car loan interest deduction is that it must be a new vehicle assembled in the United States, with the loan ...

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 ...

When tax season rolls around, deductions and credits can make a real difference in how much you owe -- or how much you get ...