Loan Calculators
Auto Loan vs Home Equity Loan
Auto Loan vs Home Equity Loan
Calculate whether or not you would save money by purchasing your new auto with equity from your home.
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You may be able to unleash the equity from your home and end up saving a lot of money. Use this calculator to figure out how much a standard auto loan may cost in the end, and then find out how much a home equity loan could cost. Depending on varying interest rates and a number of other factors, using money from a home equity loan to buy your next car could potentially save you a bundle.
Information and interactive calculators are made available to you as self-help tools for your independent use and
are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in
regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We
encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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Auto Loan Terminology
Accrued Interest
Interest which accumulates on the unpaid balance of the car loan principal.
Feb 03, 2012, 10:03 pm Frequently Asked Questions
What are the minimum qualifications?
Each bad credit car loan application is evaluated based on the credit profile and equity position. An applicant with previous good auto credit for example, may not have to meet income and job time requirements; whereas an applicant with a recent repossession would.
Feb 03, 2012, 9:31 pm