02/14/2026
Auto loan interest deduction: what to know 👇
• First proposed by Donald Trump in 2024, enacted July 4, 2025
• Temporary — applies to tax years 2025–2028
• Loan originated after Dec. 31, 2024 and secured by the vehicle
• New vehicles only (no used)
• Personal use only (not business)
• Cars, SUVs, pickups, vans, minivans, motorcycles under 14,000 lbs GVWR
• Final assembly in the U.S. (~50% of vehicles sold)
Income limits:
• Up to $10,000 deduction
• Phaseout: $100k–$150k (single), $200k–$250k (married filing jointly)
Bonus: You can claim it whether you itemize or take the standard deduction.