What is better? to either buy a car with equity in you house or just pay the car loan with their interest?

Henrietta
which one would i be benefiting from. i thought it was when i refinance and use the equity in my house but i could be wrong.

Celinda
You should never borrow money on your house to pay for a car! Cars drop in value very quickly and it it always better to buy a used car, pay cash and get on the way to becoming debt free. daveramsey.com can teach you all about it!

Toni
Hello Every body, I live in the US and i really have never seen goodness shown to me this much in my life as i am a struggling mum with three kids and i have been going through really rough times in my life and my name is Helen Peters and in all this hard times, a worse incident occured in my life as i lost my job which was my only means of survival and things became really bad as i had bills to pay and my last son suffered a knee injury incurred when he fell from a tree house and the doctors informed me that he needed a surgical operation for his knee so he could walk again and at this point, life was useless to me as i have no family and no one to run to and each night, i will sit down and cry till the break of dun until one day, i read an advert on yahoo answers of man that stated that he could help people in my shoes with loans and in my desperate situation, i had no choice but i had to try and so shocking and suprising, it was like an impossibility becoming a reality, i got a loan of $60, 000 USD even with my bad credit within 48 hours and my sons surgery was done and thank GOD it was successful and now, i am okay and living in comfort with my kids and i said to my self, i have never ever seen this kind of wonder in my life and i decided i will tell it to the whole wild world and i need every one to thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family even when all hope had been lost and gone and i will say to every one, no matter how dark and sinful the world is today, there are still GOD fearing and reliable people on earth and if you are in my former situation or require a loan legitimately, i will advice you contact this loan lender and you can reach him via patrickharvey12@yahoo.com and i want you all to pray for this man for me.

Crystle
Don't touch any equity in your house for a car! Cars depreciate and houses appreciate for the most part. Find other means.

Chastity
Never use home equity for purchases like cars.Option 1 (Recommended)Save up the money and pay cash for a car.Option 2Save up the money for a down payment.Borrow the rest from a local bank.

Fredrick
It all depends on what interest rate you can qualify for, if you tried a car loan. If you get a 0% interest car loan, that would be the best way to go. But if they stick you with a high interest rate loan, using the equity in your house may be smarter, because typically, any interest payments made on a home equity loan are tax deductible. (So essentially it'll be interest free). But remember to factor in the closing costs when obtaining the equity loan.