Is an Auto Loan or Home Equity Loan best for purchasing a car?
This calculator helps determine if a home equity loan may be better than standard automobile financing for purchasing a car. Home equity loans often have lower interest rates than auto loans and the interest may be tax deductible.
A home equity loan will save you $1,845.32 over the life of the loan.
The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.