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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: July Update - Date:  7/9/2007  2:27 PM
Author:  aj485 Number:  255388 of 312777

AJ-- are you saying that the interest on car loans is tax-deductible? I thought that only applied to the interest on home mortgages.

No, but the interest that you get from Emigrant, ING, etc. is taxable. So your after tax return on the savings is generally 3.75% or less.

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