Used car loan interest
Varies
Can You Write Off Used Car Loan Interest?
Short answer: No, the new car loan interest deduction applies only to new vehicles.
Business-use interest on any vehicle can still be deductible.
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.
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Used car loan interest
Varies
Individuals / Personal Taxes
Other Expenses
Personal Tax Deductions
No, the new car loan interest deduction applies only to new vehicles.
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
No, the new car loan interest deduction applies only to new vehicles. Business-use interest on any vehicle can still be deductible.
Category
- Personal Tax Deductions
personal deduction
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new 2026 deductions
car loan interest
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