[punpun22]

Currently, I have 30years fixed mortgage with 6% interest rate. I purchased a house 2004 August.

I need some money to cash out to upgrade my car. I was offered 4.75% fixed 30years but it will cost "closing cost,tittle, and 0.5pt " or 5.125% fixed 30years but no any cost.

Or equity loan 4%(my current mortgage bank won't lend lower than 4% )

My loan balance is less than $160.000(24years left) and apprasal was $2360,000.

I am not planning to live here more than 5 years from now anyway.

But I need some cash to upgrade my car and I don't want make a big amount car payment every month also.

My credit score is an excerllent.

What is my option to choose or what is the best way for me?

[Fr_Chuck]

Have you checked out some of the zero interest car loans out there, at least for first year, if they have a zero pay off penalty, use it, for year, pay off as much as you can off balance during that time, and borrow as little as needed on car in a year.

[ScottGem]

If you can get a 0% interest rate then go for it, Otherwise, I would shop around for a low rate HELOC,