woman got her car repaired with a loan

Why It Can Help To Pay For Car Repair With Loans

Cars are incredibly expensive to maintain, that’s why many people get car repair loans when they face a sudden breakdown. It is not uncommon to spend $1,000 a year to maintain a vehicle, and that isn't even for the most expensive repairs. Surprisingly, the vast majority of Americans do not keep this sort of cash in the bank. Many are relying on car repair loans to ensure that their vehicles are repaired quickly.

Here's Why You Should Consider Car Repair Loans

1. They’re Faster Than Bank Loans

While you could potentially get a loan from a bank to cover the cost of a vehicle repair, these loans tend to be pretty slow to come through. Some can take weeks to be approved or even to receive your cash. That just won't do if you have a vehicle that needs to be repaired now. With car repair loans, you can be approved in under an hour from the moment you come into the store location.

2. You Can Get Your Car Repaired Quickly

Obviously, the main benefit of car repair loans is that they can give you the cash you need to fund your vehicle's repair quickly. With car repair loans, you could get cash the same day. This ensures that your vehicle is not off the road for too long. It ensures that your life isn't going to be adversely impacted by your vehicle not working i.e. you can keep taking the kids to school, heading into work, doing the grocery shopping, etc.

3. You Can Get Your Car Repaired Even If You Struggle To Make Ends Meet

Many people do not have the cash that they need for their car repairs in the bank. They can't have the vehicle off the road for too long, though. Therefore, they look for car repair loans. It gives them incredibly quick access to cash in the short term and provides them with a bit more time to find a more permanent solution to their vehicle repair while also ensuring that they can continue to drive their vehicle.

Many of those who have car repair bills to cover only need cash for a few days or so. They are really waiting for their next paycheck to roll in.

man needs a car repair loan

4. They Allow You To Spread The Cost Of Your Car Repair

A car repair loan allows you to spread the repair cost over a period of time. This means that you will be paying less each month toward the repair. This is an option if you your budget is tight.

Need To Repair Your Vehicle? Car Title Loans Could Be An Option

One option you can consider when you need to repair your vehicle urgently is a car title loan. A title loan allows you to borrow cash against the lien-free title to your vehicle. Here, at Tennessee Title Loans, Inc., we can loan between $200 and $2,500, depending on the value of your vehicle. One of the main benefits of applying for a car repair loan at Tennessee Title Loans, Inc. is that all credit situations can be considered. This means that you shouldn't avoid applying just because you have poor credit. We make our approval decisions based on your current situation and your vehicle's worth.

Because our loans are often approved within 30 minutes (after a quick vehicle inspection), and cash becomes available within a few hours, many people get their vehicles repaired using title loans. However, do bear in mind that your vehicle's value determines the value of your loan. This means that if your vehicle needs serious repairs carried out, the amount that you could potentially borrow may be lower.

woman got a car title loan

Get Car Title Loans Today

Got some car repairs that need to be dealt with? Many people turn to car repair loans because they are one of the fastest ways to get your vehicle repaired, when you don’t have cash in the bank. Car title loans are one option here if you do not have the funds in the bank. You can get quick cash in Tennessee for your urgent vehicle repairs today. All you need is to fill out a short inquiry on our website to get started.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.