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Can interest on a car loan be deducted from taxes?

I’m thinking of upgrading my car in part so I can be an Uber driver and make some extra money. Can interest on my new car loan be deducted from my taxes?

avatar
Will Baldwin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
One of the benefits of rideshare driving is you can deduct
car loan
interest from your taxes!
There are stipulations. You can only claim deductions for the time you drive for Uber; no personal driving will be included in these deductions. This is because you can only deduct car loans interest for your business.
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