Auto Repair Loans – Finance Your Vehicle Repairs

20 Mar

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Right now we will talk about an solution that has helped millions of folks in their time of need to have, and that option is Auto Repair Loans.

Of all of those unexpected expenses that look to arise every single month, the most prevalent of these is a auto repair bill. The most frustrating portion about these bills is that they can range anywhere from a couple hundred dollars to a handful of thousand dollars. That makes preparing for this inevitable cost quite hard, and typically occasions we come up a bit brief. On leading of that, the price tag of automobiles appears to be increasing exponentially, which indicates the price to repair those vehicles rises just as fast. The final time I took my car in for routine maintenance, I was totally blown away by the final price on the invoice. Maintain in mind that was for routine upkeep, and the fees are even greater when there is heavy labor involved.

It really is quite clear that the charges of auto repairs can really throw a wrench into any monetary plans you may possibly have had. This is what brought me to try auto repair loans, to help alleviate some of the economic strain triggered by large repair bills. Auto Repair Loans permit me to concentrate on the critical factors in life, by taking my thoughts off of one particular significantly less expense. I never think it’s any large secret that individuals are struggling lately financially. The most recent crisis affected even these who took excellent care of their assets. Millions of men and women are seeking for some form of monetary relief, and an auto repair loan is one particular way to do that.

Where To Get A Loan

As most of you know, there are a lot of diverse types of loans, and this is true with auto repair loans as properly. Some individuals will opt to go with a credit card to finance their vehicle repairs, but as you can think about, the interest rates are sky higher. This tends to make credit cards an alternative, but a really pricey solution more than the program of time.

You might also attempt acquiring a personal loan from your bank. This is a very good notion if you have a lengthy background with that bank, but these loans are sometimes tough to get. The purpose for this is simply because that sort of loan has a extremely high danger issue, so only those with a stellar credit and payment background will be authorized.

Locating an auto repair loan can be challenging at 1st, but if you stay the program, and continue to investigation your lenders, I am certain you will locate the loan that’s greatest for you.

30 Responses to “Auto Repair Loans – Finance Your Vehicle Repairs”

  1. Izola February 5, 2013 at 4:17 am #

    My situation is that i own a car and still have to pay off my loan. I have two more years left to pay on it, until 2010. Just recently my engine went bad and it needs major repairs and I don’t have the money for it. The repairs cost more than what the car is worth so obviously its not worth the money to get it fixed. I want to finance into another vehicle but it would just cost more money to do that. What would be the best thing to do at this point? Is there any way I can get a loan somewhere with not so great credit, or would it just be worth fixing the car and just paying the rest of the loan off?

  2. Darrell March 18, 2013 at 7:35 pm #

    Its summer and as we all know, nobody wants a gas guzzler during summer. I am a college student who can no longer afford this great vehicle anymore and really need to sell it, Ive done Auto trader,checked local dealerships and even called those numbers in the paper that say they buy your vehicle. Im getting down aboutit now because a trade in will put me upside down and I will be forced to continue payments, but I can no longer afford payments so my only option is private seller. ANY ADVICE

  3. Junior March 22, 2013 at 12:14 am #

    What is USAA’s policy on “Collateral Protection” Insurance or “contingent” insurance. To protect itself from borrowers without total coverage on a vehicle financed by USAA?

    I was told to inquire about an “alternative” protection that my bank (USAA) may have in place to cover the cost of repairs from a recent accident.

    I had full coverage through USAA when I applied for the loan to purchase my car, but switched to Farmer’s insurance last year unaware that I have been covered for Liability only.

    My original loan was for $13000. I still owe $7000 and would like to get the car fixed to continue driving it and finish paying off the loan. The repairs are estimated around $5000-$6000.

    Does USAA have protection for itself to cover the cost of these repairs, pending I update my policy through Farmer’s to extend full coverage and send USAA proof of insurance?

  4. Patrica April 7, 2013 at 4:47 pm #

    I want a range rover

  5. Joyce April 8, 2013 at 9:23 pm #

    I gave back my car to Drivetime in late Aug. The car they sold me was a POS. I gave it back because I couldn’t make the payments and have the very expensive repairs done. Now they are calling and telling me they are taking me to court!

  6. Voncile April 10, 2013 at 11:56 pm #

    I’m mainly wondering if auto-repair shops are required to submit all repairs to carfax. Are all repairs from auto-body shops are supposed to be reported? What is reported and what isn’t. If someone has a dent removed from a car door and fixed at a repair shop, is it reported? Is it against the law if they don’t report it?

  7. Shanda April 30, 2013 at 2:45 pm #

    I have a good credit score & am interested in taking out a bank auto loan. The vehicle is a 2004 Jeep Liberty & it’s used – price $13950.00 & I would like to have the longest available loan term. I’ve never taken out an auto loan before & so I don’t know how it works. My first question is what would the total loan amount needed to be taken out likely be (upon approval, of course)? Secondly, what would the estimated monthly payments be? Thirdly, does the vehicle have to be in the loan holder’s name? Finally, does the bank require you to purchase insurance at time of receiving the loan? I’m not sure if anyone can answer these questions without more info, but I appreciate the effort. Thanks!

  8. Loura May 10, 2013 at 3:26 pm #

    Hubby and I just brought a house, so $$$ is way tight and both of out paid for cars died withing a week of each other. I can keep renting cars, but I know that my FICO is horrible.

  9. Porfirio May 26, 2013 at 8:22 pm #

    I’ve never bought a car before, just had hand me downs in bad shape that I put a lot of money into. My credit is bad so I’d get a high rate on whichever I pick. And is it better to buy from a dealer or private party? Thanks for any tips!

  10. Nellie June 1, 2013 at 5:21 am #

    Ok here’s the scoops: I own a Jetta that until recently ran fine. In the past 2 mos. it’s been in the shop and I’ve paid over $2500 in repairs. Now it’s basically busted again and the engine needs replacing which will cost $4000. I’ve had it checked out at several repair shops which all tell the same story. Also I still have $11,000 balance on my auto loan. Is there a feasible way to get out of my loan. I’m a college student and just can’t pull strings to get another $4000 for more repairs !!!! Other notes:Since I’m in school I probably couldn’t get another auto loan unless I quit school, AGAIN, so I have employment history, paychecks, etc.. Also I don’t want a co-signer OR trade my piece of junk Jetta for another car. Basically I’m looking for way out of my loan. After this experience with my Jetta, riding public transportation has been an oasis !!

  11. Rayford July 3, 2013 at 6:23 pm #

    The mechanic says I have to change the Torq converter with some joints, etc. and with him this will cost me around $1000, if I go to the dealership it will cost me around $2 -$3k or more. I tried to trade-in for another car but my score is 578 and I owe on the truck $25k and they want to give me for it $15-$17k. So it will be upside down from $8-$10k. That is a lot of money. I think I have a lemon car so I think I will give the truck to the bank (voluntary repo), because it is not fair I spend a lot of money on it plus my monthly payment and the truck value is $10k under of what I owe. I know this will damage my credit but I have no options. Do you think later on if I have $3k I can buy another car on a dealer? What do you thin I should do?

  12. Phil July 7, 2013 at 12:29 pm #

    I ran an auto check(carfax) on a vehicle I am thinking of purchasing. Everything came up fine except for-

    1 reported event = Loan/Lien record(s)

    now it doesnt go into detail, it just gives the definition, which is:

    Vehicle Use and EventCheck

    A loan/lien is the legal right to take and hold or sell the vehicle of a debtor as security or payment for a debt. Normally, a vehicle will have a lien due to a loan or unpaid repair bill against the vehicle.

    Can this be bad, what does this mean?

  13. Issac July 7, 2013 at 12:33 pm #

    This may seem as a silly question. My brother and I are planning on opening an auto repair business. The reason that holds us back is the income. At this point we’re each making around 60k a year. We’re not sure if we will be able to make the same money. I know this is directly related to line of customers. I need a ballpark figure. 2 bay garage, average line of business. What will the annual income be?

  14. Avelina July 10, 2013 at 5:51 pm #

    I am having a bitch of a time trying to find an auto repair manual for my car. Are there websites where you can download the manuals for free?

  15. Lekisha July 12, 2013 at 3:39 pm #

    My daughter bought a car financed it, a week later she crashed, she only had liability insurance and the car was totaled, financing fell thru because of crash. Original car price was $7550.00, minus $2500.00 that she gave for down payment,, she offered another $2500.00 for a total of $5000.00 towards the car. . But Dealer wants $2500.00 plus they want the car too. She doesn’t think its fair to give the dealer $5000.00 and also the car. She bought the GAP insurance too. She drove the car drove off the lot without any insurance and dealer told her to make sure she returned two days later with proof of insurance. She did take insurance papers to dealer he saw it and did not mention to her that she only got liability even though he was aware that she needed collision because the car was financed and also for the GAP insurance to cover her. She is 19 and this was her first car. .Now he is threatening to repo the car and report her to the credit agencies. What rights does she have since the original contract was with the bank and since that fell thru what can she do. I realize it was her mistake for crashing and not getting full coverage but the Dealer has more experience than her and was aware of the insurance she had , and I feel he is being unreasonable.

  16. Ivan July 13, 2013 at 4:32 am #

    If dealer is selling a used vehicle way under KBB suggested retail value, what does that usually mean (could it mean that there’s something wrong with the car, or is he just trying not to make a big profit?)

    Also can a price still be negotiate even if the used car is listed below KBB suggested retail price? And by how much?
    FYI: I checked the carfax and it’s a clean title, everything seems acurate like the mileage

  17. Cody July 14, 2013 at 11:09 am #

    ok heres the situiation i’m looking for a 4 wheel drive vehicle (or all wheel drive) because im in the air force and i am about to head to north dakota i want to get a loan for about 10-15000 but i dont have a down payment and i need help finding financing please help if you can hopfully i can get an impreza or legacy.

  18. Reanna July 15, 2013 at 7:36 pm #

    I need some financial advice. I owe $2,000 on a truck that is worth anywhere from $14k to $20k from black book, blue book and consumer private party retail. I am tempted to sell it and use the cash as a hefty down payment on a worry-free brand new model which would be near half of total cost. My current vehicle is just starting to get little maintenance issues, tires, shocks, etc that sure add up. However, I could take the money I pay every month and save it after I’m done with this loan. At the same time my vehicle will continue to depreciate as it racks up miles. I’m a busy person and don’t have a lot of home auto repair time either. What would be the best financial strategy for me? Thank you!

  19. Cole July 16, 2013 at 1:21 am #

    Credit Score 650-670 -credit stolen and agencies working on repairing it
    Income- 36K+
    Inquires-10 and that’s due to starting up business!!
    Need- auto loan for 10+ for new car for my bus.
    Debt to Income- I make 3000+ a month my debt is only 1000 a month.
    Credit cards- i have 4 highest balance 750
    Auto loan current- 3000
    Credit length 1yr 5 months due to a credit card. I know 30% rule so i’m getting them down to that first and then by october hoping to buy a newly used vehicle for my business.

    Total debt currently 4750 that’s it.
    Can i purchase a car with these facts?

  20. Kermit July 19, 2013 at 1:03 pm #

    Hello, are there any lenders (auto loan) likely to finance me in the following situation?

    I am a retired Air Force veteran with a poor credit score.

    My current vehicle requires more in maintenance repairs than I’ll be able to afford, and will need to trade it in ASAP for another car. This will leave me “upside down” (negative equity) on my current loan.

  21. Marnie August 7, 2013 at 11:39 am #

    Im wondering about getting an auto loan for a car that cost around $20,000. I will be putting a $5000 down payment.

    My credit score is 691. Tho, Ive only had a credit card for about a year and a half and a best buy card for about 6 months. My credit card was maxed out for the first year. Tho, I did get a $500 increase after a year to $1500. The past 6 months, on my credit card, i have paid my balance down to $0.00.

    My best buy Credit Card is $700 from when I bought a tv. I have been paying it off every month on time with about $50 a month payment with no other purchases on it. Almost have it all the way paid off.

    I will be getting about 2500 (before taxes) a month from the Air Force for work. Also, I have no late or missed payments at all!

    Now, Im wondering how hard it would to get a auto loan for $20,000 with a down payment of $5000. Looking at something like a mini cooper. Not sure.

    Also, let me know if you have any recomendations to increase my chances to getting the loan or increaseing my credit.

    Thank you!!

  22. Gillian August 9, 2013 at 3:45 pm #

    If you owned an auto repair shop how much money would you make?

  23. Antonio August 23, 2013 at 11:51 pm #

    Im trying to figure out some of the most common complaints for auto repair shops.

  24. Felipa August 24, 2013 at 9:33 pm #

    Will they pay it off or will they give me the money for a different car and I pay off the wrecked one? I’m concerned and would like some advice. My insurance company is Nationwide.

  25. Louise August 26, 2013 at 3:54 am #

    I have come to that age in my life (31) where I have realised that, although I am single and have travelled to many countries, I need to buy a house, or at least be debt free!
    I work full time and recieve an okay wage so what are YOUR best money saving tips?

  26. Agatha August 30, 2013 at 2:32 pm #

    it blew a hole in the engine because i kept on driving it, basically… my concern now is because my insurance won’t cover car repairs and to buy a new engine is too expensive, am I able to trade in my vehicle for another used one, even though i am still making payments on the auto loan I have? i got it financed through my bank.

  27. Rossie September 8, 2013 at 3:07 am #

    I tried to refinance my 2003 Nissan Altima after paying 15 months on time. I started the loan at $10,000 and my balance as of now is $6123. They rejected my refinancing because my mileage was 115,000. What does that have to do with the decision of refinancing?? I showed that I can make payments on time.

  28. Joe September 12, 2013 at 7:01 pm #

    The hydraulic jack used in the auto repair shop is based on which of the following principles?

    irrotational flow.
    Bernoulli’s principle.
    Pascal’s principle.
    Archimedes’ principle.
    the continuity equation.

  29. Giselle September 14, 2013 at 8:26 pm #

    I am currently looking to buy a vehicle and am interested in financing through capital one auto loans. Does anyone know what factors they look into and whether or not it hard to get approved by them. And I currently have a credit card through them which I have paid all payments on time and paid more than the required minimum.

  30. Carmine September 19, 2013 at 1:02 am #

    I have a 1996 Mazda MX-6 that I need to get repaired. I don’t know exactly what is wrong with it but I know I don’t have the money all at once to pay for repairs. Is there any auto repair shops out there that accept payment plans I.E. $400 a month till it’s paid for?

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