To enter the interest paid on a new vehicle loan, navigate to the Car Loan Interest screen in TurboTax.
Federal > Deductions & Credits > Add more deductions > Cars and Other Things You Own > Car Loan Interest
To qualify for the car loan interest deduction, your vehicle must meet all of these requirements:
- You purchased it in 2025.
- It isn't leased.
- It’s a brand new vehicle, not used.
- Its final assembly was in the U.S.
- You are asked to check this requirement by entering your VIN and model year into the VIN decoder provided by the National Highway Traffic Safety Administration.
- It's a car, van, SUV, motorcycle, or pickup truck that weighs less than 14,000 pounds.
- It was purchased for personal use.
- The interest was not paid to a family member or a business you own.
- Your loan must be secured by the vehicle.
You can also see the help article below for more information on this new deduction.
Vehicle Loan Interest Deduction
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