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Can I deduct my car loan payment as a business expense?

Not directly. With a purchased vehicle, you cannot deduct the loan payment itself. Instead, you deduct the vehicle's cost through depreciation (Section 179 and/or standard depreciation). You can also deduct the interest portion of your loan payment as a business expense. The principal portion is not deductible because it is already captured through depreciation.

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Testimonials

What Our Customers Say

People come for the number. They stay for how easy we make it.

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I’ve always used brokers to get my car, It’s definitely much easier than going to the dealers and getting screwed over later.Brandon and his team were a great help In helping me find a car that suited my needs. Although I was a little skeptical, cause I’ve only done it one other time, but the process was quick and easy. I wanted to carbefore February, and Vantage Motor delivered, I mean actually delivered the car to my house.Only thing I had to do was decide which one I wanted. Will definitely be using them again for my next car!

I’ve always used brokers to get my car, It’s definitely much easier than going to the dealers and getting screwed over later.Brandon and his team were a great help In helping me find a car that suited my needs. Although I was a little skeptical, cause I’ve only done it one other time, but the process was quick and easy. I wanted to carbefore February, and Vantage Motor delivered, I mean actually delivered the car to my house.Only thing I had to do was decide which one I wanted. Will definitely be using them again for my next car!

Vincent Zecca

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I am a 79 year old man. So by this time I have had plenty of cars and dealings with car salesmen/brokers. Vantage Auto Group is far above the rest. Their responsiveness and aim to please the customer is incredibly rare. I would recommend them to anyone interested in buying or leasing a vehicle,

I am a 79 year old man. So by this time I have had plenty of cars and dealings with car salesmen/brokers. Vantage Auto Group is far above the rest. Their responsiveness and aim to please the customer is incredibly rare. I would recommend them to anyone interested in buying or leasing a vehicle,

Martin Blaustein

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This was the best experience i've had in buying a car. it was painless, easy and i know i got a good deal. Thank you Elka for making buying a car a great experience and one I no longer dread.

This was the best experience i've had in buying a car. it was painless, easy and i know i got a good deal. Thank you Elka for making buying a car a great experience and one I no longer dread.

Orly Steinberg

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Nomi Hassan

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Such a wonderful experience with Sean and his team at Vantage Auto Group. Imagine not having to sit at a dealership for several hours. That alone is worth the 5 star review. Add to that how knowledgeable Sean is, how he actually wants to get you the best deal, and how little stress you'll experience throughout the entire process, and 5 stars just aren't enough. I would recommend Vantage Auto Group to anyone!

Such a wonderful experience with Sean and his team at Vantage Auto Group. Imagine not having to sit at a dealership for several hours. That alone is worth the 5 star review. Add to that how knowledgeable Sean is, how he actually wants to get you the best deal, and how little stress you'll experience throughout the entire process, and 5 stars just aren't enough. I would recommend Vantage Auto Group to anyone!

Lisa

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I’ve worked with Dave twice for new cars. The process has always been easy and fast! The first time I wasn’t sure which car I wanted so Dave talked me through his recommended options. The second time I knew what I wanted and Dave jumped on getting me the best deal possible.
I’ve worked with Dave twice for new cars. The process has always been easy and fast! The first time I wasn’t sure which car I wanted so Dave talked me through his recommended options. The second time I knew what I wanted and Dave jumped on getting me the best deal possible.

Erin Frantzman

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S/O to Oscar and his team! They put me in the exact car I wanted for a great price in less than 3 days in the next state over. I’d highly recommend to anyone in the market to purchasing a new car.

S/O to Oscar and his team! They put me in the exact car I wanted for a great price in less than 3 days in the next state over. I’d highly recommend to anyone in the market to purchasing a new car.

Melanie Escudero

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Elka was an absolute pleasure to deal with!!! I loathe going to the dealer to get a car with the back and forth nonsense. Leasing a new car should be exciting and Elka made it exciting again. TY!!
Elka was an absolute pleasure to deal with!!! I loathe going to the dealer to get a car with the back and forth nonsense. Leasing a new car should be exciting and Elka made it exciting again. TY!!

Daniel Tichio

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Front view of three luxury SUVs in blue, silver, and black, positioned side by side with the blue vehicle centered.

Leased a brand new VW Tiguan for my daughter’s 17th birthday. Great pricing! Excellent service! No problem. Will recommend and come back when lease expires. Great job!

Leased a brand new VW Tiguan for my daughter’s 17th birthday. Great pricing! Excellent service! No problem. Will recommend and come back when lease expires. Great job!

Robert Kogan

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