Finance

Does Your Car Qualify for the $10,000 Interest Deduction?

Built by Kevin Glover · @gloverbuilds · Verified formula

The old $7,500 EV credit is gone. The new OBBBA deduction lets you write off up to $10,000/year in car loan interest — but only for US-assembled vehicles. Enter your VIN to check.

📅 Updated April 2026 ✅ Formula verified 📖 4 min read 🆓 Free · No sign-up

In this article

The New Car Loan Interest Deduction: Credit vs. Deduction
The VIN Test: How to Know If Your Car Qualifies
Income Phase-Out Rules
How Much Interest Do Car Buyers Actually Pay?
How to Claim the Deduction

OBBBA डिडक्शन

OBBBA ने US-assembled वाहनों के लिए $10,000/साल का ब्याज डिडक्शन बनाया। यह अमेरिकी टैक्सपेयर्स के लिए है।

भारत में

भारत में कार लोन पर कोई टैक्स छूट नहीं (पर्सनल यूज)। बिज़नेस यूज: depreciation और interest दोनों क्लेम कर सकते हैं। EV खरीदने पर Section 80EEB के तहत ₹1.5 लाख तक ब्याज पर छूट (31 March 2025 तक)। मारुति, Tata, Hyundai: सबसे पॉपुलर ब्रांड।

⚡ CalcWolf Insight

According to the Bipartisan Policy Center, of the 25 most popular new cars sold in the US, only about 57% had final assembly in the United States. A Toyota Camry (Kentucky) qualifies, but a Ford Maverick (Mexico) does not. Always check the VIN — the brand name is irrelevant for this deduction.

Frequently asked questions

भारत में कार लोन पर छूट?▾

पर्सनल: नहीं। बिज़नेस: हां। EV: Section 80EEB (₹1.5 लाख ब्याज तक)।

कार लोन रेट?▾

7-12% p.a. SBI, HDFC सबसे competitive। प्री-अप्रूव्ड लोन सस्ता।

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Kevin Glover · @gloverbuilds

Founder, CalcWolf · GLVTS · Blickr

All formulas sourced from primary references — IRS publications, peer-reviewed research, and official standards. Results are tested against independent reference calculators before publishing. Rates and brackets updated when official sources change. Editorial policy →