Can I Get Car Repair Financing?
Even important vehicle repairs can be tempting to postpone if you’re low on funds, but this can lead to more expensive repairs down the road, impact your safety, and increase the risk of being left without a vehicle altogether when a major part finally does give up the ghost. Luckily enough, there could be an answer in car repair financing.
So, can you get car repair financing? The answer is normally yes, and the experts at our Ontario finance center are here to let you in on all you should know.
How Does Car Repair Financing Work?
Sometimes known as auto repair loans, car repair financing helps you cover the cost of anything from tire rotations to fluid changes. There are some programs to eliminate even the need for an auto repair loan, including:
- New Car Warranties (including the manufacturer warranty)
- Extended and Used Car Warranties
- Collision insurance
Of course, you might not be covered by any of those programs. If that’s the case, anything from an accident around Shelby to a breakdown in Ashland might hit your finances hard.
Car repair financing helps avoid financial strain by providing the money you need and letting you pay it back in manageable monthly installments. Like personal loans, they can be secured or unsecured. If secured, the vehicle’s title will usually function as collateral. Regardless, you’ll probably need to pass a simple credit check.
Should You Consider Car Repair Financing?
There’s a few things Galion drivers should know before taking out car repair financing. Start by asking yourself these questions:
- How much is your vehicle currently worth?
- How much would it cost to buy a new or used vehicle?
- How much are the required repairs?
After answering those questions, you may find it makes better financial sense to purchase a new or used car. You should also know that car repair financing with bad credit can be harder to arrange and may involve paying a higher interest rate, so factor that into your decision if your credit score isn’t quite where you’d like it to be.
Find Out More About Car Repair Financing by Contacting Us Today
Whatever you decide to do, Spitzer Motors of Mansfield CDJR can help. In fact, we offer service specials, new vehicle specials, and used vehicle specials to make your money go further. For any further advice, feel free to get in touch today.