Trump Said ‘No Tax on New Car Loans’ But Forgot to Mention the Math (with The Wall Street Journal)
Episode 249
Grab your calculator, ping your CPA, and maybe get a comfort snack or two because Trump’s new car loan tax break might be less ‘cash in your pocket’ and more ‘political brain fog’ with extra paperwork. Chris Otts, Autos Reporter at The Wall Street Journal joined me today to break down the confusing new auto loan deduction, reveals which cars really qualify, and asks the hard question: does this incentive move the needle at all for everyday car buyers? ICYMI: the Trump administration’s new auto loan interest tax deduction is for vehicles assembled in the United States and has a lot of rules around who can actually cash in on it. Press play to hear how we compared this complex and limited new benefit to the now defunct $7,500 federal EV tax credit, explored which cars actually qualify (and why many affordable models don’t), and walk through a real‑world example showing the deduction is worth roughly $576 in the first year on an average new‑car loan. *cue the tiny violins*
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