For value-minded consumers, used cars are generally considered a better deal than new cars. Does the new Trump tax break change that equation?
For value-minded consumers, used cars are generally considered a better deal than new cars.
Does the new Trump tax break change that equation?
The One Big Beautiful Bill Act promises “No Tax on Car Loan Interest.” It’s one of several novel tax cuts in the new law.
Here’s what the “no tax” provision actually means: Between now and 2028, car buyers may deduct the interest they pay on new car loans. The tax break goes away in 2029.
There are several caveats. Among them:
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