At some point in our lives, we’ve all had a disastrous day where something major breaks and we thought, “I need a loan today!” and this is one of those situations!
It’s 7:30AM and, of course, you are running late for work. So, you jump in your car and turn the key. You hear a strange sputter from under the hood. Your heart sinks as you realize, old reliable isn’t as reliable as she used to be! This is the last thing you need, money is already tight and rent is approaching. You sulk and utter “why me?”, “why today?” and eventually you bite the bullet and get your car towed to the nearest mechanic with hopes that it’s something inexpensive like a battery or alternator, but really you’re thinking, “I need a loan today.”
Even the alternatives are costly!
You carpool and use ride share to commute to back and forth to your job while your mechanic works on the car. You are spending money faster than you’re making it with rideshare and it feels life couldn’t get any worse, until you find out it’s your engine. What are you going to do? You can’t afford a new vehicle, and the repair is over $1,000. You don’t have any funds in savings and you can’t keep paying $20 each way to commute to work and other necessary stops.
We’ve all been in your shoes
You are not alone. 6 out of 10 Americans don’t have $500 in savings. This means an unexpected car repair will put most of us at the brink of financial ruin. If you’re one of the many Americans who haven’t mastered the art of maintaining a savings account, and are now finding yourself in a similar situation with an unexpected and expensive auto repair, you have options with auto repair financing.
Check out shops that have friendly auto repair financing options
As the seasons change underlying car issues come to the surface. Mechanics see the majority of transmission, radiator and engine problems during the onset of the summer and winter seasons. This means during the month of July, the likelihood of you having a major vehicle repair is drastically increased. But there is hope! Many auto shops are very familiar with financing options for those unable to pay huge bills up front. Check with your neighborhood shops and see where you can get a financing option that best suits your individual needs!