Deduction for Car Loan Interest (Up to $10,000)

Interest on loans for new, U.S.-assembled personal‑use vehicles may be deductible beginning in 2025

Requirements
To qualify, the vehicle must:

  • Be brand new

  • Be assembled in the United States

  • Be for personal use

  • Have a loan originated after December 31, 2024

  • Have its VIN listed on the tax return

Not Eligible

  • Leased vehicles

  • Used vehicles

  • Vehicles assembled outside the U.S.

  • Vehicles used for business purposes