How To Afford Expensive Car Repairs

How To Afford Expensive Car Repairs

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Need to get your car repaired, but can’t afford it? Here are a few funding options to consider…

 

Shop around

Not all repair centres will charge the same prices for repairs. Consider collecting quotes from other repair centres in your area and see if anyone will charge cheaper rates. Just try to be wary of repair centres that could be offering low prices to make up for a bad reputation.

 

Consider a loan

Another option could be to take out a loan. Borrowing money could allow you to get repairs you need and pay back the costs over a longer period in smaller instalments. If it’s an emergency cost, you may be better off considering online loans that can be processed quickly. You could even use a credit card to pay for some of the repair costs

 

Talk to repair centres about financing plans

Some repair centres can have their own financing plans, which could work out cheaper than a loan. This could involve paying the cost in instalments over a few weeks or months. Ask repair centres whether they offer this service as some may not suggest it otherwise

 

Source your own parts

You can often lower the cost of repairs by sourcing your own parts. Repair centres will aim to make a profit on any parts they order in. By ordering these parts yourself, you could save a lot of money. There are lots of sites where you can order used parts for cheap. Make sure that you know exactly what type of part you need. Be careful of buying partially worn parts  – whilst these can be very cheap, you could end up replacing them in a couple months if they’re already partially damaged, making it a pointless purchase

 

Do your own repairs

If you think you’re savvy enough, you could always consider taking on repairs yourself. Whilst some jobs are best carried out by a professional (e.g. complex engines parts and electrics), many jobs can be DIYed without too much hassle. The internet is full of DIY guides on everything from changing a headlight bulb to changing a brake pad. Check first which tools you need and how much it will cost you to obtain these tools. In many cases, you can hire tools for cheap, however you don’t want to be buying a specialist tool and paying more than you would were you to visit a professional who already has the tools

 

Know when to cut your losses

Not all repairs are worthwhile. As a general rule, you should never pay for repairs if they come to more than half the value of the vehicle – you’re much better off scrapping the car and buying a new one. Consider how much you’ve already spent in repairs and whether the vehicle is likely to cost you more in the future. You may be able to scrap your car for cash regardless of condition using certain companies – whilst you won’t make a lot of money, it could be better than receiving no money for your vehicle at all

*This is a collaborative post

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