Incredible Home Equity To Buy Car Ideas. Using a home equity line of credit (heloc) to buy a car is easy, though it might not be the best idea. It is possible to use a home equity loan to buy a car and save on the interest rates from a traditional home loan, but the risks of doing so should always be considered.

The amortization of most home equity loans is between 15 and 25 years, said debra morrison, a certified financial planner with empowered retirement in lincoln park, n.j. While you may find lower rates and monthly payments by using a home equity loan to purchase a car,. Here’s a look at possible benefits of purchasing a car with a heloc:


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