30% of Californians used home equity to buy their car last year

[jeffrey]

In hot markets like California, nearly 30 percent of all consumers tapped into the value of their homes to help finance their new cars, according to CNW Marketing Research

L.A. Land : Los Angeles Times : The California bubble, bigger than the other ones

[MonkeyMama]

I am surprised it was only 30%, honestly.

I realized this when more and more people told me they owned their cars free and clear. This was a little confusing to me (since usually people look at us like we are crazy we pay cash for cars). I finally realized they all meant they paid for cash they borrowed against their house. They would admit this tidbit, eventually. But to them that was as good as paying cash.