Is Auto Repair Financing Right For You?

Published on: November 15, 2019

Auto Service Warwick, RI

Primary Care Auto Repair are experts in auto service not finance, but we also understand there are times when you cannot afford your auto repairs and must find the money to pay for them somewhere. According to Credit Karma, there are a few ways you can finance auto repairs. Here are three auto repair financing options for you to consider depending on your personal financial situation.

Bank Loan

If you have a checking and/or savings account with a bank or credit union, go into your branch and talk with a loan officer. Let him or her know that you want to take out a personal loan to help pay for car repairs. You should already have an idea of how much money you need to borrow based on the service estimate, so ask for a little over that amount to give you some cushion. If you are approved, you pay off the personal loan in monthly installments over one-to-two years, generally, and there will be interest applied to each payment so look for a low APR rate.

Cash Advance

There are two ways you can get a cash advance for your car repair bill. One is via a payday loan and the other is via a title loan if you own your car. You’ve probably seen bad things about payday loans on the news and the reports are factual. Payday loans carry with them high-interest rates and nearly impossible payback schedules, so you shouldn’t take out one unless you can afford to pay it back plus interest out of your next paycheck. Title loans require your vehicle’s title to secure the loan, which means you could lose your car if you cannot pay it back.


Finally, if you have a credit card, a line of credit, or good credit, you can always charge your auto repairs. Your best bet is to find a card with zero interest and finance your auto repairs that way. If you can pay the balance in full during the zero-interest period, you won’t pay anything other than what you charged and any applicable fees. If you have a card with a low balance, you can use that one, too, or an existing line of credit. As with any auto repair financing option, however, you have to make the monthly payments or risk damaging your credit.

Primary Care Auto Repair in Warwick, RI, is a Snap! Finance partner, so call us today for your auto repair needs.

Reach Us

Business Hours