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Bank Equity Plan

Using Your Bank Equity to Finance Your Car
use your home equity credit line as your personal banker to finance your auto purchase and pay down other debts - including your mortgage - at minimum costs.
(you can learn more - links scroll to information below)
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Bank Equity Plan for Auto Purchase:

Introducing the Banker Line of Credit

Banker Home Equity Line of Credit (BLOC)

You will use the BLOC as your personal money account to finance your vehicle purchase and manage all income and expenses.

You will deposit into the account:

·  all income payments
·  all bonuses
·  all capital gains not reinvested
·  all cash payments
·  all other income

Likewise, you will use your BLOC to pay:

·  your mortgage payment
·  your insurance
·  your credit card payments
·  your living expenses
·  all other expenses

 

The BLOC will Maximize Your Money Position

Your BLOC will take your discretionary income (total income minus expenses) and use the proceeds to finance your vehicle, pay down other debts, help finance key projects, and pay for other needed events at minimum interest cost.

You will never make a payment to your BLOC since your income deposits will be your payment. And since HELOCs are based on simple interest, these deposits will force adjustments to your equity line balance ensuring you minimal interest charges.

we have a complete demonstration with illustrations on how the BLOC can work for you in financing your auto

 

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Bank Equity Plan for Auto Purchase:

Program Illustration
How Best to Finance Your Auto

Become a true banker by using the equity value of your home as capital to purchase your car and fund other big-ticket events.

By using your home equity as a money account, you can finance items with minimal cost — see our presentation on becoming a banker

 

Use the equity in your home to become a BANK
to pay for

  • your auto purchase
  • auto protection
  • insurance
  • maintenance
  • and any other auto obligations

    by simply changing the ways you manage your money.

Instead of using your checking account to receive and payout funds, you will use your home equity line of credit account for all income deposits and expense pay outs.

View the illustrations below:
1st: Use the equity in your home to finance auto purchase

Use your equity line to pay for:
  • pay for the vehicle
  • pay warranty
  • pay for supplies
  • pay for misc. needs
2nd: Deposit all of your income into your banker home equity line of credit account

You will take all of your income sources and deposit them into your equity line account instead of your checking account. You will deposit:

  • salary income
  • capital gains
  • savings
  • spare change
3rd: Now use your banker home equity account to pay family expenses

Use your banker home equity account to pay for everyday budgeted and planned expenses such as:

  • monthly utilities
  • food and clothing
  • mortgage payment
  • budgeted charges
  • other living expenses


use it like you would
use your regular
checking account
to pay for everyday
living expenses

Benefit: Your discretionary income pay offs your auto financing FAST!

Your discretionary income (the income amount minus your expenses) remains into your banker home equity line account to lower the auto debt balance on your equity line.

Over time, you will be able to pay off your debt balance in half the time by budgeting and managing your banker home equity line.

You can use your banker account to finance all kinds of family needs including paying off your mortgage.

Where to Next
  • First Step:
    view this quick 10-point slide show that demonstrates how the Banker Line of Credit works: go to slide show

  • Second Step:
    view the 10-step plan to successfully launch and manage your BLOC: view 10-step plan

  • Third Step:
    see how the BLOC can be used to pay off your mortgage: view mortgage payoff plan

Note: The recommended product, term and use are listed as illustrative purposes on how you might use the equity in your home. Please note that your circumstances may be different and that the recommended product, term and use may not fit your particular need.

YourEquity.com is not a lender. Therefore, we cannot quote rates or guarantee best terms. We refer applicants interested in getting a lending quote to Secure Rights, a licensed mortgage broker representing multiple home equity lenders.


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Home Equity Application

financing your auto

Current Prime Rate: 3.25%
Equity Rate Range * LTV Type
PRIME RATE+
(-0.50 to 0.25%) 		80% LINE
PRIME RATE+
(0.25 to 1.50%) 		90% LINE
PRIME RATE+
(0.00 to 2.50%) 		80% LOAN
PRIME RATE+
(2.50 to 3.75%) 		90% LOAN
* sample home equity rate ranges: see notes