Updated over 8 years ago on . Most recent reply
using heloc for car purchase
Its often talked about using a HELOC to help purchase other rentals, home improvements etc. Given that HELOC interest is tax deductible, I was wondering if it made sense to use for a car purchase? I know interest on a car loan is relatively cheap (assuming your credit is decent) and that HELOC is a variable product. But even if you are paying a point or 2 more on that interest, does it make sense because of the tax deduction.