StonePanther ... Plenty of equity in truck - 2022 GMC, no loan - but our bank keeps wanting to refi or give vehicle loans at what is higher interest rates, and home refi or equity loans too. We kinda laugh when the offer just increases the interest rate, and if anyone does it, all it accomplishes is the bank gets more interest on the same loan it holds now. If we refi the house, for example, our mortgage payment would go up $460 a month, and we would get no cash out and we'd pay all the refi costs n addition.
We're just thinking it's the banks and finance companies trying to exclude the low interest rates on homes and vehicles that it funded with the low rates the past few years ... banks don't like getting 'stuck' with home loans at 3.5% for thirty years, nor vehicle loans at five or six years at one or two percent.