: Once the draw period ends, you enter a repayment phase (often 10–20 years) where you pay back both principal and interest.
: Vehicles lose value quickly—roughly 60% over 5 years . If you use a 20-year repayment term, you will likely owe money on the car long after it has reached the end of its life. heloc to buy a car
AI responses may include mistakes. For financial advice, consult a professional. Learn more Can You Use Home Equity to Buy a Car? - Mortgage - Experian : Once the draw period ends, you enter