Should I use a home equity loan to buy a car?
If you’re looking to buy a car, the most traditional route is an auto loan, but it’s also possible to finance your vehicle using a home equity loan. To determine if using a home equity loan to buy a car is the best option for you, you need to know how to use a home equity loan for car purchases and when a home equity loan might be a better solution than a standard auto loan. The terms of these two loans are vastly different, so it’s not as simple as choosing the loan with the lower rate.
![a car parked in front of a house: Red car parked in front of a suburban home](https://www.msn.com/{"default":{"load":"default","w":"80","h":"45","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1bvjEH.img?h=450&w=799&m=6&q=60&o=f&l=f"},"size3column":{"load":"default","w":"62","h":"35","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1bvjEH.img?h=351&w=624&m=6&q=60&o=f&l=f"},"size2column":{"load":"default","w":"62","h":"35","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1bvjEH.img?h=351&w=624&m=6&q=60&o=f&l=f"}})
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Red car parked in front of a suburban home
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