“Interest on a loan for a used car counts for the new car loan deduction.”

What the law says

The vehicle is new to you (its original use starts with you), is a car, minivan, van, SUV, pickup or motorcycle under 14,000 pounds gross vehicle weight, and had its final assembly in the United States.

Source: IRC §163. Read the full rule, with the law quoted

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More claims about the same rule

“You can deduct the interest on any car loan now.” · Not VALID
“Leasing a car gets you the car loan interest deduction.” · Not VALID
“Interest on a 2025 loan for a new, US-assembled car can be deductible.” · VALID

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