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Is there a tax exemption for car loans?

In the last few months, I’ve been using my van for a part-time airport shuttle business while my kids are in school. Am I able to get a tax exemption for its loan?

avatar
Will Baldwin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
For most vehicles, getting a tax exemption isn’t possible on the loan. However, for vehicles used for business purposes, you actually can get a tax exemption on the
loan
. The exemption will only work for the time you’re using it for your business and not for personal time.
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