How Best to Finance an Auto
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
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 buy your car
Use your equity line to finance your auto purchase and other 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. Deposit:
|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:
|Benefit: Your discretionary income pay offs your auto debt obligations FAST!
Your discretionary income (the income amount minus your expenses) remains into your banker home equity line account to lower the auto debt balance.
Over time, you will be able to pay off your financing debts in half the time by budgeting and managing your banker home equity line of credit to live within your necessary means.
You can also use your banker account to finance other needs such home improvement, college and other.
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