So I did the math on a tax deduction for car loan interest, and I just donβt think it will end up moving the needle much on car sales.
Even with very little down, a long tenor (72-84 months), and poor credit...principal payments will eat middle-income buyers alive. Interest is less an issue.
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Even with very little down, a long tenor (72-84 months), and poor credit...principal payments will eat middle-income buyers alive. Interest is less an issue.
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The median deduction will likely be $2k-3k, and buyers may still find themselves stretched on monthly payments.