My daily driver is a '99 Dakota sport 4x4 so it's got almost no book value.
Don't own the house, so I don't know how to go about telling them they should give me a loan to fix it up. Hmm...
I say pass on this deal since you don't own your home.
I assume you are paying a mortgage?
If so, do you really want to go into more debt purchasing an expensive toy that will probably piss your wife off and put you even further in the red?
Assuming you are married, that is. LOL.
Not trying to tell you what to do, but man, in todays economy going into more debt could be a serious mistake, and right now the lending organizations are being pretty picky about lending to those with debt.