Having a car is not a luxury anymore; it has become necessary in most of our lives. Most of us prefer to drive to work, even though there are public transportation options in our city, mainly because of the comfort that cars offer. However, when they break down, they can create many financial problems for you. If you have been searching for options for “I need my car fixed but have no money,” you have come to the right place.
In this article, we will tell you some easy and effective tips that you can try when you want to repair your car but have no money at that moment to afford the repairs. All the results that will come up when you search for, “I need my car fixed but have no money” will show up results that will require you to pay for the same at a later point in time. Hence, it would help if you plan your finances accordingly for this.
I need my car fixed but have no money
The rising cost of car repairs:
Recently, the American Automobile Association conducted a study in which it was estimated that the average annual cost of car repairs amounted to around $500 to $600. In the case of replacing car parts and other huge repairs, the costs could go up to $1000. The worst part of the entire scenario is that your car can break down all of a sudden. You may not have enough money to finance car repairs.
There is no need to panic in this case. When you do a simple search on Google about “I need my car fixed but have no money” you will get many interesting and easy tips. We are going to talk about a few of them here.
I need my car fixed but have no money –can insurance help
Even before you look for other sources to finance car repairs, an important question that you should think about is, “do I have to fix my car with insurance money.” If your car is still under warranty, it doesn’t hurt to check with the insurance company if the costs of repairs are covered as per the auto insurance policy.
Even if your car is out of warranty, you can still check with your insurance company if they can cover the costs of car repairs after adjusting for the deductible that you paid already. If your insurance policy covers your car repairs costs, you don’t have to pay anything out of your pocket later.
I need my car fixed but have no money – a credit card is a good option
If your car breaks down suddenly, and you are left with no money, one of the best solutions, in that case, could be a credit card. You can use your existing credit card to pay for your repairs. However, you need to remember that credit cards are associated with huge interest charges.
They do have a grace period by which you can aim to pay the amount in full. This way, you don’t have to pay any interest charges, and still finance your car repair costs during an emergency.
Can personal loans help when I need my car fixed but have no money
If you don’t have a credit card, or if your card carries a huge interest rate, you can consider opting for a personal loan. The best part of a personal loan is many lenders and financial institutions offer one. A good credit score is not very important for getting a personal loan. So, even if you have missed some payments in the past or made delayed payments on your monthly installments, you can still be eligible for a personal loan.
More often than not, your car breaks down unannounced. So, you need a quick source of money to finance repair costs. You can get a personal loan within a day, in most cases. You can check with your bank or any online lender for personal loans. However, you need to remember that personal loans are always associated with very high-interest rates. Hence, you need to opt for personal loans, only if you can afford the repayment rates.
Personalized payment plans from the mechanic
Sometimes, your car mechanic might offer you customized payment plans for financing repair costs. These mechanics might tie-up with banks or financial institutions to offer you attractive payment plans, wherein you can start paying for the repair costs after a certain amount of time has passed. They might give you an interest-free payment period for a few months.
Hence, if you want to make the most of this option of “I need my car fixed but have no money,” you should try as much as you can to start repaying within this period. These payment plans may also carry a high-interest rate, especially if you have crossed the interest-free period.
Look for another source of income
A prudent thing to do would be to include car repair costs in your budget. If your current income doesn’t allow you to include car repairs, you should always look for additional income sources. If you have a talent, like painting or writing, you can try to monetize it to the best of your abilities.
Do you have a cargo van? If yes, you can search “How to make money with my cargo van” on Google. This will give you some easy tips to monetize your vehicle effectively. You can put this money in a contingency fund, and this fund can be used to finance emergency expenses like unexpected car repair costs.
Other great options you can try
You will also come across other practical options when searching for “I need my car fixed but have no money.” They are the following:
- Asking for a loan from friends and family, provided all the terms are agreed in writing
- Looking for a payday loan (also known as a title loan) that has reasonable terms and conditions
- Selling or pawning your jewels or other treasures to arrange the money required for car repairs
As you can see, there are quite a few options that you can try when you search for “I need my car fixed but have no money.” It is highly recommended that you analyze all the options and choose the one you can afford to avoid regrets later.
Conclusion:
If you need your car fixed but don’t have the funds, consider checking for warranties, seeking low-income repair assistance, or looking for charities or crowdfunding platforms that can help. You could also consider DIY repairs or seeking help from friends and family.
Frequently Asked Questions:
How to fix whistling noise from car air vent?
To fix a whistling noise from your car air vent, check if there is an obstruction or debris in the vent. If not, try adjusting the fan speed or temperature settings to see if it helps. If the issue persists, it may be a problem with the blower motor, in which case you should take your car to a mechanic for repair.
Should i fix my car before trading it in?
Whether you should fix your car before trading it in depends on the extent of the repairs and the potential return on investment. If the repairs are minor and affordable, it may be worth fixing the car to increase its value. However, if the repairs are costly, it may not be worth the investment, and you may be better off trading in the car as is.
How much does it cost to fix heat in car?
The cost to fix the heat in your car can vary depending on the extent of the problem. Minor issues such as a blown fuse or a faulty thermostat can cost around $100 to $200. However, more significant problems, such as a broken heater core, can cost upwards of $1,000 to repair. It’s best to have a mechanic diagnose the issue to get an accurate estimate.
Hello, my name is Idammah, and I am the founder of Wolfionaire.com, a personal development, and finance blog focused on motivation, success, and wealth. I am obsessed with studying the world's wealthiest individuals and learning about their path to success. I believe anyone can achieve their financial goals with the right mindset and strategies, and I hope to inspire and empower my readers to pursue their own path to success.
