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Financial Planning / Tax Strategies


Subject:  home equity loan to pay for car? Date:  3/19/2000  5:30 PM
Author:  ajuda Number:  32134 of 127637

A friend recommended that we get a home equity loan to pay for a car (2 years old) that we are considering purchasing. Her logic is that we can deduct the interest we spend on the car on our taxes. Don't have any debt except the house, but am getting killed on taxes because we don't have many deductions.
Is this a good idea?
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