New tax break for auto loans could save some buyers thousands of dollars. But will it boost sales?

  • Posted on July 13, 2025
  • By Bing News
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New tax break for auto loans could save some buyers thousands of dollars. But will it boost sales?

Millions of people receive a federal tax deduction for the interest they pay on home loans. Under President Donald Trump’s new tax-cut law, many people for the first time also could claim a tax deduction for interest on their vehicle loans. The new tax break will be available even to people who don't itemize deductions. But there are some caveats t...
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