View Single Post
Old 05-10-2019, 11:10 AM   #12
vztrt
IWCMOGTVM Club Supporter
 
vztrt's Avatar
 
Join Date: Sep 2005
Location: Northern Suburbs Melbourne
Posts: 17,799
Valued Contributor: For members whose non technical contributions are worthy of recognition. - Issue reason: vztrt is one of the most consistent and respected contributors to AFF, I have found his contributions are most useful to discussion as well as answering members queries. 
Default Re: Putting car loan into mortgage

Essentially you would need to refinance the property. Make sure the time of the loan doesn't get reset.

If your already making payments on the car then you need to make sure you feed these payments into your loan or you will end up paying more than staying with what you finance company.

If you have a redraw facility on your home loan could you take that money out (if your have some money to take out) for the difference of the finance if you want to sell the car and are still left owing?

Essentially at the end of the day you just need to make sure you pay the debt off in the right time. You shouldn't use your home loan if your not gonna pay the extra money. You would be better of at looking for a consolidated loan.
__________________
Daniel
vztrt is offline   Reply With Quote