Camila Domonoske Vehicles fill the parking lot at a Honda dealership in San Marcos, Texas. About 60% of the Honda vehicles sold in the U.S. last year were assembled in the United States, according to Honda, which means they could be eligible for a new tax provision allowing buyers to deduct the interest paid on their auto loans. Brandon Bell/Getty Images hide caption There's a brand-new tax deduction in place this filing season: Taxpayers who bought a new car in 2025 can, in some cases, deduct interest on their auto loan. The deduction was created by the One Big Beautiful Bill Act, which also removed taxes on tips and overtime for qualifying workers, and — relevant to new car shoppers — eliminated a tax credit for buying electric vehicles. Here's what taxpayers should know about the new tax deduction. If your car loan was taken out before that date, you won't be able to benefit. If you purchased a used car, you're also out of luck.…