Quote:
Originally Posted by 1990C4S
And what is the difference between borrowing on a car, or using the home equity to pay for the car? Most people have multiple 'loans', cars, line of credit, credit cards, and a mortgage. Provided they have equity and income, who cares?
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How many people do you know have a 30 year loan on a car?
I know someone who refinanced their mortgage and took out some equity to buy a car and was still paying for that car 10 years after it was long gone and still had another 10 years to go.