One Big Beautiful Bill Vehicle Loan Interest Deduction

As part of the One Big Beautiful Bill Act, you may qualify for a tax reduction, please consult a tax professional for guidance. You may refer to your December 2025 statement to find the total interest paid.

One Big Beautiful Bill Vehicle Loan Interest Deduction

Eligibility Requirements to Receive the Deduction

  • New Vehicle:  The loan must be for a new car, minivan, van, SUV, pickup truck, or motorcycle with a gross vehicle weight rating under 14,000 pounds. Used vehicles and leases do not qualify.

  • Personal Use:  The vehicle must be for personal use, not business or commercial purposes.

  • Assembled in the U.S.:  The vehicle's final assembly must occur in the United States. Assembly location can be verified using the National Highway Traffic Safety Administration's  VIN Decoder website(Opens in a new window) .

  • Loan Origination Date:  The loan must have originated after December 31, 2024.

  • Income Limits:  The deduction begins to phase out for taxpayers with a modified adjusted gross income over $100,000 (single filers) or $200,000 (married filing jointly).

Where Can I Find Total Interest Paid?

Please refer to your December 2025 statement.