Finance question

[Pharaoh]

A home equity line of credit can still put you in a tough situation. If for some reason you would need to refinance, that amount becomes due immediately. Which means that you will have to finance a larger amount on the new mortgage. With the rates being what they are, my advice is to go with a car loan.

I know this only because I have done it and had to come up with cash real fast.

 

[savannah_az]

Good point, I'm not taking a huge loan out though, after between a little cash and my selling my car I'm only looking at 8-10k total. So basically I'm risking paying that amount off vs what interest I pay on a loan that size... Any other pros & cons to those two options?


Sent from my iPhone using MonsterAquariaNetwork app

 

[Jexnell]

The last post was 12 years ago, I assume he got his answer...

 

[RyanScanner]

Forget the car you can catch the bus.