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Tax Deductible Loan Interest On USA Made Cars
Posted on 3/5/25 at 8:51 am
Posted on 3/5/25 at 8:51 am
I thought this was a pretty cool idea from the speech last night.
It is so refreshing to have an Administration that actually thinks outside of the box to actually help the American people.
It is so refreshing to have an Administration that actually thinks outside of the box to actually help the American people.
7
Posted on 3/5/25 at 8:52 am to SaturatedPhat
Mate would this apply to the amazing new Lexus GX model?
Posted on 3/5/25 at 9:01 am to SirWinston
Was thinking about this again this morning. Do we foresee American car companies raiding their prices knowing they can sell you on the tax savings?
I just wonder if this will really end up a net positive for us.
I just wonder if this will really end up a net positive for us.
Posted on 3/5/25 at 9:08 am to SirWinston
That’s one fancy Toyota!
Posted on 3/5/25 at 9:10 am to Yaboylsu63
quote:
Do we foresee American car companies raiding their prices knowing they can sell you on the tax savings?
Depends on the person making the purchase. People that don't know what they are doing always get taken advantage of.
Less tax is always a net positive.
Posted on 3/5/25 at 9:23 am to Yaboylsu63
I think this will have a very small blip on the supply and demand curve. If it is an itemized deduction similar to mortgage interest, most people won't be able to take advantage of it fully. The standard deduction for a person filing single as $14,600, and $29,200 for married filing jointly. Less than 15% of returns itemized.
Posted on 3/5/25 at 9:24 am to SirWinston
Wish they would have stayed with naturally asp v8
Posted on 3/5/25 at 9:25 am to Yaboylsu63
No, nobody is going to know how much the savings is going to actually be. It's gonna be marginal, but it will still be savings which is what people want. What it will do is reduce demand for vehicles made elsewhere. It's actually brilliant.
Posted on 3/5/25 at 9:25 am to SaturatedPhat
we need something to offset the massive "union tax" slapped onto the sticker price of every American made vehicle.
Posted on 3/5/25 at 9:25 am to dstone12
quote:
Wish they would have stayed with naturally asp v8
Couldn’t agree more. It’s a twin turbo V6 but I would have preferred a V8. Still plan on buying it later this year though.
This post was edited on 3/5/25 at 9:48 am
Posted on 3/5/25 at 9:26 am to Yaboylsu63
quote:
Do we foresee American car companies raiding their prices knowing they can sell you on the tax savings?
Only if they're stupid. Why forego volume of sales? If Ford, for example, decides to reduce the cost of their F150s, but Chevy decided to keep prices the same to increase their profit margin, who do you think will come out ahead?
This post was edited on 3/5/25 at 9:36 am
Posted on 3/5/25 at 9:27 am to SaturatedPhat
Toyota makes many cars and trucks in the US but their best stuff is still made in Japan and I want to keep it that way.
Maybe their plants in the US are enough to keep the benefit.
Maybe their plants in the US are enough to keep the benefit.
Posted on 3/5/25 at 9:32 am to SirWinston
quote:
Mate would this apply to the amazing new Lexus GX model?
Unfortunately, the GX is made in Tahara, Japan.
Posted on 3/5/25 at 9:33 am to Reeaholic
quote:
That’s one fancy Toyota!
Soccer mom mobile
Posted on 3/5/25 at 9:35 am to SaturatedPhat
How many foreign car companies built cars here?
Posted on 3/5/25 at 9:35 am to Reeaholic
Toyota is the best automaker on the planet with the possible exception of Tesla.
Posted on 3/5/25 at 9:40 am to SaturatedPhat
Just have the government pay the interest part. Win win
That way they could qualify for the best interest.
Conditions apply like 2 months missed payments disqualifies borrower.
That way they could qualify for the best interest.
Conditions apply like 2 months missed payments disqualifies borrower.
Posted on 3/5/25 at 9:41 am to SirWinston
Given the prices of vehicles today this could be substantial for many people, but you can bet banks and anyone doing the financing will jam up rates since they are tax deductible, the increased rates will be passed on to the "the govt" (eventually everyone shares the costs).
Posted on 3/5/25 at 9:43 am to SaturatedPhat
What are being made completely in the US?
Posted on 3/5/25 at 9:45 am to L1C4
Mercedes and Hyundai in Alabama, Kia in Georgia, BMW in South Carolina are some that I know of.
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