No.

According to Chinese tax laws, car loan principal and interest cannot be directly deducted from personal income tax. However, if the vehicle is used for personal business or labor remuneration, the interest on the car loan can be deducted as a cost, thereby reducing the taxable income. If the vehicle is used as a mortgage guarantee for a personal housing loan, the interest on the car loan can be declared together with the interest on the housing loan and enjoy the policy of deducting the interest on the housing loan.