Financing your Gladiator - the loan interest may be deductible.

[ExpoGuy]

A provision in the One Big Beautiful Bill allows taxpayers to deduct up to $10k per year in car-loan interest
from 2025 through 2028. This applies to new U.S. assembled vehicles. Used vehicles and leases don't apply.

Gladiators are assembled in Toledo, Ohio, so they should qualify for the deduction.

Ideally paying in full is best. But not all of us can do that. This provision will take some of the sting out
of financing.

https://www.kiplinger.com/taxes/new-gop-car-loan-tax-deduction

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[berb]

So, for those of us who purchased new Jeeps before 2025, but still paid interest on our loans in 2025, do we get to deduct the interest or does this just apply to new jeeps purchased in 2025.

 

[Vaughn4380]

So, for those of us who purchased new Jeeps before 2025, but still paid interest on our loans in 2025, do we get to deduct the interest or does this just apply to new jeeps purchased in 2025.

Unfortunately no. Articles I have read state the vehicle must be purchased in 2025 through 2028 to qualify.

 

[WambliSka]

Soooooooo, time for an upgrade?

 

[berb]

Sounds that way to me

Soooooooo, time for an upgrade?

 

[ExpoGuy]

My local Jeep dealer has a 2025 Gladiator with only 2500 miles on it, a lease return.
It has my interest but because it's used I can't deduct the interest. I think I'd be better
off buying new.

 

[Wheelin98TJ]

Kind of surprising you do not have to itemize for this deduction.

Some poeple will be able to deduct car loan interest, but not mortgage interest.

 

[Q Tip]

Sorta like getting zero percent for 3 years. I'll take it. I hope people don't hate on me for this like they did when I cash for clunkered my 1990 Ford Explorer. Great vehicle btw.

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