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Loading Form. This is because banks see houses as more secure collateral than cars, so they can afford to offer a lower rate loann interest. So, it seems like a no-brainer, right. There are essentially two ways to use your home loan to fund a car purchase and it depends on if you already have an existing car loan or click here. If you already have my quicken loan car loan, use the home loan to consolidate the my quicken loan by borrowing against the equity and paying off your existing debt.

If you are purchasing a car, use home equity to fund it by drawing down the equivalent amount out of your equity.

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