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Should you use home equity to finance your next car?

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Should you use home equity to finance your next car?


If you’ve owned your home for a decent period of time, or you’re ahead on your mortgage repayments, then you can potentially use some of the equity to purchase assets such as a car. 


While this might be a good option for some, it’s worth weighing up the advantages and disadvantages of using your home equity on a new car.

Advantages


Disadvantages


Did you know?

With our in-house mortgage broking division we bridge the gap between the countless phone calls and emails between lender and accountant making your refinancing and borrowing much less stressful.

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Our holistic approach to taxation, accounting and financial planning means we bridge the gap in the client experience, eliminating the frustration from delays that are often inevitable with multiple stakeholders involved in the lending process.


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