Quote:
Originally Posted by jplinville
Who in their right (proper) mind would use home equity to purchase a new car?? That's got to be one of the dumbest moves...
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I'm not sure I understand you. Can you clarify why you think so? We did the math a few years ago and got a home equity loan and paid off our car loans. The interest was lower and also deductible. Why would you say that was bad?
OTOH, if you are broke and using it to buy your new S-class that you obviously have no need of, it is bad. Used properly, I would be curious to see why you think it is a bad thing.