A split-screen image: on the left, a person is happily driving a new car on a sunny day. On the right, a close-up of a 2025 tax form with a calculator, a car key, and a line item highlighted in green labeled 'Vehicle Loan Interest Deduction'.

Tax

Now You Can Deduct “Your Personal Car Loan Interest” for Your Taxes

Byadmin 10/21/202510/21/2025

New Car Loan Tax Deduction? A brand-new law gives you a tax break for car loan interest, but it passed late! We explain the IRS’s temporary fix, Notice 2025-57, and what it means for your 2025 taxes. Did you buy a new car in 2025? If you’re like most people, you probably financed…