Which makes more financial sense for us? We're buying a car, going to put about 30% down and can get a loan for the balance for about 7.5%. On the other hand we could take out a HELOC and finance the balance at about 8%.

Considering that we can deduct the interest if it is a HELOC and that we are in the 28% tax bracket, which would be the smarter choice and how much would we really be saving as a %?