We have all been there. Times are tight financially and – bam! – all of a sudden, you find that you need a car repair that falls way outside your budget. This is a tough spot for anyone to be in, as you have to make some tough choices. Do you go without a needed purchase to help with your car repair budget? Do you try to skip it and drive a broken car, potentially making the problems worse and the car eventually undrivable? Or is there another option? According to Credit Karma, the following options are available to those who can’t afford car repairs, and the pros at Lakelands Tire & Auto in Greenwood, SC want to give you the pros and cons of each.
Financing
If your credit is in rough shape, Snap! financing is always an option. This option allows you to apply for a loan before you even bring your car in for service or repair, and will let you see how much you can afford and how long it will take to get it paid back. We find that this is a good option for many of our customers, and have seen great success going this route.
Credit Card
If this option is available to you, and it isn’t to everyone, it is a great way to get your auto repairs taken care of without having to worry about the whole bill all at once. Unfortunately, a lot of credit cards come with high interest rates and will require you to pay back over time a much higher price than what is due. But if you have good credit with a zero-interest card, the credit card can be an attractive option.
Payday Loans
This is generally a terrible choice. These lenders offer a loan in exchange for your car title or a future paycheck, and the interest rates are so high they are nearly impossible to pay back. Only in the most extreme of circumstances do we even consider this an option, so if you can steer clear, we urge you to do so.
We Will Work With You
At Lakelands Tire & Auto in Greenwood, SC we believe everyone deserves to drive a safe, operational vehicle, and we will bend over backward to help you with this. Various financing options are available, and we can help you work through the process. Being broke and carless is fun for no one, so let us work with you to get things back on track. Make an appointment!