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Started By
Message
re: BBB-American made auto loan credit
Posted on 7/4/25 at 6:23 pm to Diego Ricardo
Posted on 7/4/25 at 6:23 pm to Diego Ricardo
tax cut for the limousine liberals
1
Posted on 7/4/25 at 6:31 pm to purple18
I love my King Ranch. I hope you get one.
Posted on 7/4/25 at 6:32 pm to Diego Ricardo
quote:
But, yes, this deduction is mostly handing the upper class some change. The deductions for middle class consumer vehicles will be much more modest.
Well, no shite. The more expensive the car.... well, the more you finance and/or the higher your interest rate, the more your deduction will be up to $10,000. So this might very well benefit the poors who have bad credit and therefore have a higher interest rate.
Posted on 7/4/25 at 6:33 pm to Load Toad
quote:
love my King Ranch. I hope you get one.
I’m not an OT baller…..yet
Posted on 7/4/25 at 6:41 pm to Diego Ricardo
quote:
But, yes, this deduction is mostly handing the upper class some change.
No it isn't. 10k is the MAX deduction, not the floor threshold. The point of a high ceiling is to benefit as many people as possible, not just to "hand the upper class some change."
This post was edited on 7/4/25 at 6:45 pm
Posted on 7/4/25 at 6:47 pm to purple18
Gonna take more than 10k to force me in to an American vehicle
Posted on 7/4/25 at 6:48 pm to Lakeboy7
quote:
Gonna take more than 10k to force me in to an American vehicle
We're about to see a surge in vehicles considered "American made."
Posted on 7/4/25 at 6:54 pm to Lakeboy7
quote:
Gonna take more than 10k to force me in to an American vehicle
By American, you mean Chevy/Ford/Chrysler? Or ANY car that was made in America? Because pretty much ALL manufacturers make cars over here now, do they not?
Posted on 7/4/25 at 6:55 pm to Diego Ricardo
quote:
Show me the 110k-ish Rolls or Ferrari! LOL. But, yes, this deduction is mostly handing the upper class some change. The deductions for middle class consumer vehicles will be much more modest. I probably won’t paid 10k in interest over the lifetime of my wife’s SUV loan. Great credit and significant down payment will do that. And I don’t think foreign made automobiles can apply?
It’s the interest. Cost of the car doesn’t tell the story.
Buying a $30,000 car with zero down’ and trading in an upside down car and rolling that into the loan for 84 months at 12+% might get you close…..
Posted on 7/4/25 at 6:57 pm to Lakeboy7
quote:
Gonna take more than 10k to force me in to an American vehicle
Toyota, Honda, Hyundai, Kia, Subaru, Mercedes-Benz, BMW, Nissan,
I’m sure there are others, those are just the ones I can think of off the top of my head that manufacture automobiles in the US.
Posted on 7/4/25 at 6:58 pm to imjustafatkid
quote:
We're about to see a surge in vehicles considered "American made."
Thats true.
Posted on 7/4/25 at 6:59 pm to AuburnTigers
quote:
tax cut for the limousine liberals
Well I think it’s going to benefit households who make 200k or less that can afford a top spec F150 or some of these American made luxury SUVs (that will include some German badges).
It will be less beneficial than the blanket 7.5k credit for EVs for the average middle class person.
This post was edited on 7/4/25 at 7:00 pm
Posted on 7/4/25 at 8:14 pm to tigeraddict
quote:
It’s the interest. Cost of the car doesn’t tell the story. Buying a $30,000 car with zero down’ and trading in an upside down car and rolling that into the loan for 84 months at 12+% might get you close…..
YT has been feeding me these videos of financial managers trying to work deals and it is really underrated how upside down some people get on vehicles. You are right to point out that Kayleigh with her Midnight Edition Altima that has multiple signs of body damage on it because they can’t afford their deductible could be hitting 10k in interest yearly.
Posted on 7/4/25 at 8:18 pm to Diego Ricardo
quote:
You are right to point out that Kayleigh with her Midnight Edition Altima that has multiple signs of body damage on it because they can’t afford their deductible could be hitting 10k in interest yearly.
And you bet your arse that finance managers will use that....
"You REALLY aren't paying X for the car, because of the interest deduction you will get on your taxes. You can't lose with this deal."
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