Auto lenders may need to prepare for additional documentation requirements as a new bill aims to make auto loan interest tax ...

🤓Nerdy Tip An example of the difference a loan's term can make: If you take out a $40,000 new car loan with an 84-month term at 9% APR, you would pay about $623 monthly and $12,369 in total ...

On Tuesday, Republican senator Bernie Moreno of Ohio introduced the United States Automobile Consumer Assistance and Relief ...

A new proposal, the USA CAR Act, is making waves in Washington. This bill, introduced by Sen. Bernie Moreno, would provide ...

Moreno’s bill would add auto loan interest to the list of deductions consumers are permitted to claim on their taxes under Section 163 of the Internal Revenue Code of 1986. It would apply to interest ...

For example, the average car loan interest rate for people with a 730 credit score is 6.70 percent for new cars and 9.63 percent for used cars, while those with a credit score of 550 can expect an ...