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
- 1 Views
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...