Have Car Repairs That You Cannot Afford? 2 Ways You Can Get The Money You Need

If your car is down and you cannot afford to pay a mechanic to repair it, this can be frustrating for you. Fortunately, there are ways you can get the money that you need. Below are two of these ways so you can get your car back on the road again.

Get a Car Repair Loan

There are loans for just about anything including loans that are exclusively to make car repairs. You could go to a traditional lender to get a loan but may find it hard to get approved, especially if you have bad credit. Fortunately, you can find private lenders that will give you a loan even if you have bad credit.

Private lenders that offer car repair loans base the loan on the assets that you have instead of your credit history. As long as you have a steady income, car insurance, and you have a car title that proves you are the owner of your car, you can likely get the loan.

You will generally get the money you need very quickly so you can go ahead and put the car in a shop now. You should know the interest rate for a car repair loan is generally higher than a loan you receive if you have good credit. Because of this, check the rate to ensure it is not too high. If the loan does have a very high interest rate, you would be paying back far much more than you borrowed.

Sell Things You Own

If you do not want to get a loan you can sell some items that you own. One way to do this is through online auctions. This is generally a quick way to get the money you need. With most auctions you can set a limit on what you will take to sell the item. This is beneficial, because if someone bids very low but no one else bids, they would not be able to buy the item.

If you sell an item in this way always get the money upfront before you send the item. If the item is worth a lot of money, put insurance on it just in case something happens.

You can use a combination of these two things to get the money you need. This way you would not have to borrow as much money so you could pay the loan back quicker. For more information, contact companies like American Cash Advance and Title Loan.