When you have more than one car loan: an alternative to Does My Car Qualify
Does My Car Qualify's free calculator estimates one loan's interest. Lientally lists all your loans with their VINs and fills in Schedule 1-A lines 23–30.
| Lientally | Does My Car Qualify calculator | |
|---|---|---|
| Where it runs | In your browser tab. No account. Your loans are never uploaded. | Web page |
| Price | Free: the deduction, Schedule 1-A lines 23–30 and every check for any number of loans; 2 loans and 2 tax years on screen. Pro: $19 for 7 days, $9/month or $49/year. | Free |
| Loans | Any number in one list, from CSV or Excel | One loan at a time |
| What it does | Qualification checks, VIN check digit, negative equity and refinance shares, business share in column (ii), $10,000 cap, phaseout and lines 23–30, 2025–2028 | Estimates a loan's yearly interest and deduction |
Honest take: for one loan, Does My Car Qualify's free calculator is quick and good. Lientally is for households with several loans, a trade-in or refinance, or business use, who want the Schedule 1-A lines.
Competitor details checked on 2026-10-29 from their public pages: Does My Car Qualify calculator. Prices change — check their site for the current offer. Product names are trademarks of their owners; we are not affiliated with them.
FAQ
Do both tools agree on the interest?
They should for a plain loan. Both work from the loan terms; Lientally gives the same 2025 and 2026 figures as Does My Car Qualify's worked example ($40,000 at 7% for 60 months). Your lender's Form 1098-VLI is the real figure.
Is my data uploaded?
No. Your files are read by JavaScript in your browser tab and never sent to us or anyone else. Loans and VINs aren't stored, so closing the tab clears them. Settings can be saved in this browser.
What does Lientally do?
It reads a list of your car loans, checks which qualify for the car loan interest deduction (IRC §163(h)(4)), takes out non-vehicle amounts and business use, applies the $10,000 cap and the MAGI phaseout, and fills in Schedule 1-A lines 23–30 for 2025 through 2028.
Which loans qualify?
A loan taken out after December 31, 2024 to buy a new car, SUV, van, pickup or motorcycle under 14,000 lbs GVWR, with final assembly in the United States, for personal use, secured by the vehicle. Leases, used vehicles and business or fleet loans don't qualify.
How is the phaseout worked out?
$200 for each $1,000, or part of $1,000, of modified AGI over $100,000 ($200,000 married filing jointly). Married filing separately: $100,000 and a separate $10,000 cap per spouse.
What's free?
Importing any number of loans, the deduction, Schedule 1-A lines 23–30, every check, the first 2 loans and the first 2 tax years on screen and in print (with a footer). Pro shows and prints everything and exports the Excel workbook and both CSVs.
Where does the interest come from?
Your lender's statement or Form 1098-VLI if you have it. Otherwise Lientally estimates it from the amount financed, APR, term and first payment date; late or extra payments change the real figure.
What isn't covered?
State taxes, vehicles bought for a business, loans from related parties, and the 2026 form's line numbers if they change. Your lender's 1098-VLI and a tax professional come first.
Is this tax advice?
No. Lientally applies the rules it describes to the numbers you provide. It is a worksheet to check against your lenders' figures.