The new car loan interest deduction can reduce your taxable income by as much as $10,000 a year, but you’ll need to buy a new ...

President Donald Trump rolled out the idea for a new tax break on car loans during a 2024 campaign stop in Detroit. Here's ...

A look at the "no tax on car loan interest" provision in the "Big Beautiful Bill" reveals key eligibility criteria. But the ...

Trump's One Big Beautiful Bill Act introduced a tax deduction on auto loan interest — but eligibility for the tax break is limited ...

Estimating your monthly payments using an online car loan calculator can give you a baseline number with which to work. 2. Check your credit. A credit check is usually required for a car loan.

Each number in the formula plays a key role. Yang believes you should put 20% down, finance a car for no more than four years, and ensure that your monthly car payments do not exceed 10% of your gross ...

Discover how these extended terms trap buyers in negative equity and cost thousands more in interest over the long run.

Consumers are holding on to their cars longer due to rising new car prices, increased vehicle reliability and personal finance goals like avoiding monthly payments. Older cars are harder to finance ...

The sweeping GOP tax bill calls for an above-the-line deduction of up to $10,000 in car loan interest during a given taxable year. You'd pay no tax on that interest, if you qualified. The proposed ...

In the end, the decision to lease or finance when buying a new car depends on your lifestyle, financial situation, and driving habits. Leasing is ideal for those who want lower monthly payments ...