Home Equity Auto Loan Calculator

This home equity vs auto loan calculator will show you the potential savings of using a home equity loan to finance your next vehicle instead of using a traditional auto lender.

As you may already know, you can usually deduct finances charges on a home loan at tax time and you may find it's easier to get a better finance rate.

That being said, you want to be careful getting in to deep with a home equity loan...If things get bad financially and you can't afford the payments, then you are homeless vs. carless.

Home Equity Auto Loan Calculator
This calculator will help you to decide whether you should finance your car using a home equity loan or using a conventional auto loan source.

Purchase price of car ($):
Down payment amount ($):
Loan term (# of months):
Auto loan interest rate (%):
Home equity loan interest rate (%):
Home equity loan upfront costs ($ total of fees, points, ect):
Your combined state and federal tax rate (%):
Your savings interest rate (%):
ResultsAuto LoanHome Equity Loan
Monthly payment:
Total interest cost:
Tax savings:

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