Taking out equity for your roof may be a reasonable thing since you need a roof to protect the homes value and keep it habitable. Using hard earned equity for a car or any consumable product is really a bad idea. The car may be a distant memory before you every pay off what you borrowed to purchase it. It was people using their equity for cars, consumables and vacations in the early and mid 2000's that aided the housing melt down.
If you want to pull some equity out for the roof, consider a HELOC, but realize the minimum payment is interest only. Calculate the payment necessary to pay it off early.
If you decide to refinance the current mortgage, consider not starting the clock over at 30 years. 15 or 20 year terms offer lower rates and the payments aren't that much more.... more