smart lending guides for decision making

Comprehensive Lending Guide Bookmark Site

Use the BLOC to Finance Your Auto

Suggested Option

  1. apply for a bank equity program
    use our spec sheet below to shop your equity line among our network of lenders. Use the FREE quotes to compare terms and rate. You may shop lenders online and with your local bank.

    Make sure your equity line balance is high enough to finance your car and maintain an open $15,000-$20,000 (this will allow you to use the line for emergency and paying off your mortgage later on)

  2. do some power shopping:
    have the leisure to shop for a car with the financing already arranged
    • once you close your banker line of credit, you can shop at your leisure knowing full well what kind of car you can buy — no more haggling or worrying that your auto loan won't to cover the extra features that you would like.

  3. power to negotiate: 
    gain the negotiating power to shop for the best price with cash in hand
    • think about it, no more haggling with the dealer. Simply walk in, pick the car you want, add the features YOU NEED, and negotiate with cash in hand. Watch the dealers roll out the red carpet.

  4. once you have financed that car, use your bank equity to pay down the BLOC balance:

    use the bank equity program to manage your auto financing payoff program.

    Note: the money saved by not having to pay a monthly auto loan payment each month is now discretionary income that can be used to pay down your BLOC. Do not spend this money for other items since it will defeat the BLOC payoff plan.

    view how this option may work: see slide demo

Home Equity Application

BANK EQUITY for Auto Buying