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.
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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Customer Testimonial
"Drivers Lane made getting our car a breeze, even with our low credit scores."
"Thank you!"
Joe & Jen L.
Auto Loan Terminology
Dealer Rebate
Lenders do not allow dealer rebates to meet their minimum required down payment. The rebate, however, is still used to reduce the finance amount.
Frequently Asked Questions
Can I use Drivers Lane to finance a vehicle from a private owner?
No. Funds for loans through Drivers Lane can only be used to purchase new or used automobiles from dealerships with an Car Loan center onsite. Each dealer selected by Drivers Lane has passed a screening for quality and customer service.