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USING YOUR HOME EQUITY TO FINANCE AUTO

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Note:
Home Equity loans are credit-based products that use a percentage equity value of your home to secure the loan or credit line.

You can calculate your Loan-to-Value (LTV): click here

 

 

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HOME EQUITY FOR AUTO FINANCING
available as fixed rate loans at terms up to 15 years or more


BENEFIT 1
home equity loans are as low or lower in financing cost than most auto loans — depending on the type of auto purchase and credit applicant.

view sample of home equity interest rates


BENEFIT 2
you can borrow the amount of money you need to put cash in hand prior to shopping your vehicle. This will give you the purchasing power to negotiate best price

see summary review of benefits and terms


BENEFIT 3
the interest you pay on your home equity loan qualifies for tax deductibility. Depending on your tax situation, the effective interest rate may be even lower if you qualify

see our affiliate site at YourEquity.com for a effective tax rate table


PRODUCT INFORMATION
percentage of consumers that use their home equity to finance an automobile purchase — avg. 7% of home equity applications (consumer bankers association)

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Using Home Equity
Financing
option: auto loans
option: auto leasing
Financing Notes
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