Just a heads up. If you are in the process of buying a vehicle for personal use, the new tax law allows you to deduct up to $10,000 of interest paid annually for 2025.2026,2027, and 2028 off your taxable income whether you itemize or not,
Some restrictions, but the VIN # has to begin with a 1,4 or 5.
"From 2025 through 2028, individuals can deduct up to $10,000 annually in interest paid on loans for new, American-assembled personal vehicles (under 14,000 lbs). Loans must originate after Dec. 31, 2024, with the deduction available for both itemizing and non-itemizing taxpayers, phasing out for AGIs over $100k single/$200k joint."
This is not tax advice,
Some restrictions, but the VIN # has to begin with a 1,4 or 5.
"From 2025 through 2028, individuals can deduct up to $10,000 annually in interest paid on loans for new, American-assembled personal vehicles (under 14,000 lbs). Loans must originate after Dec. 31, 2024, with the deduction available for both itemizing and non-itemizing taxpayers, phasing out for AGIs over $100k single/$200k joint."
This is not tax advice,