: You are approved for a credit limit based on your home's equity (typically up to 80-85% of its value minus your mortgage).
: HELOCs have no restrictions on vehicle age, mileage, or type, which can be helpful for older used cars that traditional lenders won't finance. Significant Risks & Drawbacks heloc to buy a car
: Under 2026 IRS rules, interest on a HELOC is only deductible if the funds are used to buy, build, or substantially improve the home securing the loan. Interest on funds used to buy a car is not tax-deductible . Summary: Is it worth it? : You are approved for a credit limit
: Since you pay the dealership in full with HELOC funds, you may have more power to negotiate a better price. heloc to buy a car