Home Equity Loan vs. Auto Loan Calculator
See if a home equity loan beats a traditional auto loan.
What This Number Means
This comparison is only one part of the decision. Before you borrow against your home, consider:
Whether a home equity loan beats a traditional auto loan
How the lower home equity rate compares to typical auto rates
The risk of securing a depreciating asset against your home
Whether any interest deduction changes the comparison
Whether the potential savings are worth the added risk
How to Use This Calculator
1
Enter the vehicle price: Input the purchase price of the vehicle.
2
Add auto loan terms: Enter the rate and term for a traditional auto loan.
3
Include home equity loan terms: Enter the rate and term for a home equity loan or line.
4
Review the comparison: See if a home equity loan beats a traditional auto loan.
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