<prompt> Human: If I were to purchase a newish car, Id need to take a loan. Assuming the interest rate is the same for both, wouldnt I be better off taking a home equity loan so that the interest is tax deductible? I know frivolous HE loans were a contributing factor in the meltdown, but it seems like a good idea...  <response>: Car loans are much cheaper than HELs, so even if you could deduct the interest it would still be a bad idea. 