I recently took out a home equity loan to pay off some bills and do some home improvements and my wife and I had some cash left over to pay off my Box and her '05 Sentra!
So my Box will be paid off 2 years early...

Now to see if a can afford to get a pre-owned Tahoe...

 

Congrats on payin it off early

But a Tahoe??? Chevy's are POS especially pre-owned ones....very risky...stay with a jap car...they will run forever if you maintain them properly...a used toyota truck or something...but not a GM product.

 

Congrats! Toyota financing annoyed me with their absurd 6.something % "low" rate so I paid off my box early too!

In general though... you're not supposed to use home equity to pay off a car or other bills. The rate may be lower on a refi or home equity and you can write off interest on you taxes BUT you turn those purchases into a much longer loan while using your home as collateral.

 

The reason I say Tahoe is cause the parts are cheaper than parts for what I really want...Nissan Armada!...

 

haha congrats, i wish i had my xB paid off, you can always show some love to me with some extra cash :D college and car payments are hurting me.

 

you would have come out cheaper sticking with the loan you had on the car.
Now you have to pay the remainder of the balance of your car + interest for the next 15-30 years, or however many years you have left on your house note.
unless you did a short term loan

I'm not trying to be a buzz kill. Hopefully you figured something out that let you come out ahead.