LAS VEGAS (KTNV) — Americans purchasing new vehicles assembled in the United States can now claim a tax deduction on their auto loan interest, potentially saving thousands of dollars over the next ...
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 ...
Last year, data show Americans drove away from dealerships with more than 15 million new vehicles, with roughly 80% of buyers reportedly relying on financing to purchase. So far in 2025, average car ...
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