We get it here at European Fix. You need your car and you cannot afford to be without it. Here’s the problem, though: You also can’t afford your auto repairs. If you drive a European make and model, we can help. We can provide a second opinion on the proposed auto repairs in an effort to save you money and, if the repairs are still out of your financial reach, we offer Snap! financing to our customers. Let’s talk about the financial help available to those who cannot afford their car repairs.
Help for Those With Good Credit
For those with excellent credit, one of your best options is to give your bank a call or stop by your local branch and apply for a personal loan. Financial experts Credit Karma recommend this option over all others. The reason why is simple: Personal bank loans offer the lowest interest rates and longest payback schedules of the options available to you. This being said, they are out of reach for people who have no credit or bad credit, and for people who do not have financial assets to back the loan.
Another option recommended by Credit Karma for those with an excellent credit score is to apply for a zero-interest credit card that offers you at least six months to pay off your auto repairs with no interest. Obviously, if you suffer from poor credit, you would not be able to apply for this type of credit card. Using your regular credit card might not be a good idea. Most credit cards have interest rates that exceed 15 percent. This increases your auto repair bill significantly if you must take time to pay it.
Help for Those With Bad Credit
There are loan options for people with bad credit, but these options come with very high interest rates and, to be quite honest, a lot of risks. If you have a reliable job, you can take out a payday loan that provides instant cash with no credit check. The problem with this loan is twofold. First, the interest rates are exorbitant. Second, you’ll be expected to pay the loan back on your next payday. A title loan is another option, but you must relinquish your vehicle’s title to the lender until you pay the loan back.
Help for Everyone
As you can imagine, Credit Karma does not recommend these loans unless they are absolutely necessary. It’s better to see if you qualify for automotive financing such as Snap!, which you can apply for before you bring your vehicle to the service shop. European Fix is a full-service European auto repair shop in Clinton Township, MI, and we offer Snap! financing for our customers. Call us today to schedule an appointment for your European automobile.
