Which cars qualify for the car loan deduction
Up to $10,000/yr
Which Cars Qualify for the Car Loan Interest Deduction?
Short answer: New personal cars, SUVs, trucks, vans, and motorcycles under 14,000 lbs with final assembly in the U.S. qualify; check the VIN plant code.
Used cars, leases, and business vehicles don't qualify.
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.
Which cars qualify for the car loan deduction
Typical range: Up to $10,000/yr
Individuals / Personal Taxes
New personal cars, SUVs, trucks, vans, and motorcycles under 14,000 lbs with final assembly in the U.S. qualify; check the VIN plant code.
Business justification
New personal cars, SUVs, trucks, vans, and motorcycles under 14,000 lbs with final assembly in the U.S. qualify; check the VIN plant code. Used cars, leases, and business vehicles don't qualify.
Category
- Personal Tax Deductions