OK, Nsxotic, I see your point, but I still disagree with you. In particular, I disagree with the statement "IF you intend to pay your equity line off within 5 yrs. Will you? Not likely." Maybe I'm more disciplined than the average person, but when I bought the car I put the payments on a schedule that will have it paid off in a reasonable amount of time. (FWIW, less than five years.)
Let's do some more math
...
Say you have a $200,000 house, of which you carry a $150,000 mortgage. So, you have $50,000 equity. You take an equity loan for that amount, and buy the NSX. (As in your example, I'll just let the value of the NSX=0.) So, nothing else considered, your net worth is now $200,000 house - $150,000 mortgage - $50,000 equity loan = 0.
Same guy, but this time he gets a car loan from his credit union for the car. In this scenario, his net worth is now $200,000 house - $150,000 mortgage - $50,000 car loan = 0.
In either case, your net worth is the same. So, you must look at the interest you're being charged (factoring in the equity loan's tax deduction) to make a decision as to which is the better deal.
Your main point seems to be that the rigidity of a car loan will benefit the simpleton borrowing the money, who would certainly drag out his equity loan 10 or more years. I think NSX owners are more clever than that
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-Bob ('94 #496)