Google new car tax relief and it will find the story for you. It gives a one time tax write off for the year 2009 up to the first 49,500.00 price tag. It gives examples of $1500.00 write off for a 25K car and $2,500 on a 35K car. It also includes any interest paid on the loan, as being deductable for the 2009 tax year. As far as interest, I'm not sure if it is only for the tax year 2009, or for the life of the loan. Either way, this is money back in your pocket when you file your taxes next year. Actually, it lowers your adjusted taxable income, which still means you pay less tax, or get a bigger tax refund next year. Any tax relief is a good tax relief, and this is a pretty generous tax break. My 2SS/RS ABM man 6 spd. sunroof will fetch me at least the $2500 deduction. I am puttng quite a bit down on the Camaro, so interest tax break will be minimal, but it's still better than not getting any break at all.
