Car payment
Varies
Can I Write Off My Car Payment?
Short answer: Only the interest part, and only on a new US-assembled personal vehicle under the 2025-2028 rule.
Business vehicles follow the mileage or actual-expense rules instead.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
BW-B22-00190
medium risk
Car payment
Varies
Individuals / Personal Taxes
Other Expenses
Personal Tax Deductions
Only the interest part, and only on a new US-assembled personal vehicle under the 2025-2028 rule.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Only the interest part, and only on a new US-assembled personal vehicle under the 2025-2028 rule. Business vehicles follow the mileage or actual-expense rules instead.
Category
- Personal Tax Deductions
personal deduction
search demand 2026
new 2026 deductions
car loan interest
obbba 2026