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Using Your Home Equity for Auto Buying

Use a Home Equity Loan to Finance Your Car
with a repayment term that fits your budget — use the loan to negotiate the best deal using cash.
(you can learn more - links scroll to information below)
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Use Your Home Equity for Auto Buying:

Why Use this Product Line

for buying an auto

You've been dreaming for a new car or truck

A home equity loan can make it happen. You can expect 5 (five) great benefits:

  1. Super Low Rate
  2. Choice of Terms
  3. Power Shopping
  4. Power to Negotiate
  5. Potential Tax Savings

    see below on how these benefits can work to put a new car in your driveway

Using your Home Equity Loan as an "Auto Buyer" is a smart way to finance your new car or truck.

Your home equity gives you the power of "cash-in-hand" to negotiate best deal. Plus, you can select the term depending on your budget needs.

Don't forget that the interest charges on your home equity loan may be deducted from your taxes if you qualify. Consult your tax advisor for information.

 

Help Pay Down Your Auto Loan Faster

Budgeting your everyday spending can help raise money to pay down your auto loan faster — see how pre-paid cards can help you budget money


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Use Your Home Equity for Auto Buying:

Home Equity Line Benefits

benefits

Product Benefits

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Use Your Home Equity for Auto Buying:

Smart Auto Financing Guide

suggested use

Your Home Equity is Smart Auto Financing

click to print the home equity comparison sheet to shop lenders


Expect 5 (five) great benefits:

1.

RATE:
start with a super low, FIXED rate contingent on the LTV value of your home and your credit rating

  • home equity loan rates can be as low or lower than many new and used auto loan rates. Depending on your LTV position and credit rating, you can find rates near or lower than the PRIME RATE.

  • sometimes auto manufacturers advertise rates at 0.00%. But that rate is on vehicles they need to dispose of. Walk into a dealer and request 0.00% financing on a vehicle YOU WANT and hear a different story.

  • that's why when you are in the market for a new car or truck, get the rate that is one of the best in the market at terms that fit your budget.
2.

TERM:
select your choice of repayment plans from five years or more

  • auto loans generally have a 60-72 month repayment plans— that translates into hefty monthly payments when you consider the price of new cars today

  • with a home equity loan, you can set the term for a longer period of time. This means lower monthly payments to start. And if circumstances allow you to pay more each month, you can. That is the flexibility you need to budget your expenses.
3.

POWER SHOPPING:
have the leisure to shop for a car with the financing already arranged

  • once you close your equity loan, 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 cover the extra features that you would like.
4.

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.
5.

TAX SAVINGS:
reduce your borrowing cost further with potential tax savings for qualified home owners

home equity interest may be tax deductible— see your tax advisor for information about deducting home equity interest

  • the interest on your home equity loan may qualify for tax deductions. That means additional savings in your pocket.

    What auto loan can give you that much power? Use our tax calculator to compare.

There you have it:

  • low rate,
  • choice of repayment terms,
  • power shopping,
  • negotiation,
  • and potential tax savings.

    Your Home Equity Loan is a smart way to put you behind the wheel of a new or used car or truck.

Apply now and let's search for the right lender
or dial toll-free: 1-877-777-1370

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

USING YOUR HOME EQUITY

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