cwave1
Member
Ok, so can you contact scotiabank or RBC for HELOC for auto loan? Since for me scotiabank told that the auto loan should be through a dealer , they cannot give it to an individual
HELOC is a Home Equity Line of Credit. You can arrange it with any bank that offers mortgages and often it is easiest to arrange with your current mortgage company. You can often get approved for the difference between the appraised value of your home x .80 and the current principal you owe. You do not need to tell them what you are using the money for, when you need it, or how much you will be using.