guy fixing car title loan

One of the Best Ways to Get Car Repair Loans with Bad Credit

Not everyone is prepared to meet the financial obligation of getting their car repaired, yet the likelihood of finding yourself in need of a repair is surprisingly high. In fact, one in three Americans experience a vehicle breakdown a year. One in three! That's a whopping sixty-nine million vehicle breakdowns happening a year to be exact.

For those of us with bad credit, getting a car repair loan when you're the unlucky one in three can be a real challenge. For many households with only one vehicle, being able to get your vehicle repaired as fast as possible is essential to your ability to get back-and-forth to work. Especially for repairs that take several days.

The unexpected vehicle repair costs, can make finding the funds to repair your vehicle a real problem, especially if you have a bad credit.

How Bad Credit Limits Your Financial Loan Options

If you have a bad credit score, getting a traditional loan or a new credit card may not be viable options for you.

Traditional Loans

Traditional loans, meaning loans that you obtain through banks and credit unions, can be a time-consuming process that are subject to credit checks. This can be problematic for many.

If you happen to find yourself part of the 16% of Americans who have bad credit, traditional loans are not much of an option.

Credit Cards

Opening up a new credit card may also present challenges if you have bad credit. Although many credit cards will offer 0% APR for the first year, no credit or bad credit will likely disqualify you from these kinds of promotions, resulting in a higher APR than you're looking for.

car repair loans bad credit

Know What Options There are for Bad Credit

Car repair loans and bad credit generally isn't a great combination and certainly narrows down your options, but don't be discouraged! Believe it or not, you still have other loan options!

Online Payday Loans

If you find yourself needing to wait until payday to get the money necessary to repair your vehicle, a payday loan may just be your saving grace.

Lets face it, we have all found ourselves in that predicament where you just need a little more time. When, come payday, everything can be squared away. But what if the lack of a working vehicle causes you to lose days of work? When that happens, waiting till pay day may no longer be an option. That's what makes payday loans so great.

Payday loans are short-term payday loans given to you based off of your previous pay stub, with places like giving up to $300 in payday loans.

Once the payday loan facility sees that you can in fact make the payment come your next paycheck, they will ask you to leave a blank, postdated check from an active checking account for them to cash on the agreed upon date. And as simple as that, you'll be able to get the much-needed money for that vehicle repair without having to wait until payday.

Title Loans also offers title loans. For those costly repairs over $300, a title loan may be one of the best ways to get car repair loans with bad credit, with Cash Cow of Louisiana giving title loans up to $1,400.

You can get a title loan by going to a title loan facility and having them inspect your vehicle to see how much you can temporarily pawn your car title for. Not only are you able to get a good chunk of money if your car is in good condition, but you can also take your car home with you in order to get the repair work done.

How to Get Online Car Title Loans: Step-by-step Guide

Car title loans have an easy application process. In fact, in as little as thirty minutes you could have the entire process completed and your money in hand.

Step 1- With many branches to choose from, Cash Cow has quite the selection of locations that make it an easily accessible option for those living in the great state of Louisiana. To begin, just go online and fill out a request form, or call their customer service line to fill out the request form with one of their representatives.

Step 2- Once submitted, a customer representative will call to inform you of the required documents needed to obtain the loan. They will require a government issued ID, an up-to-date vehicle registration, and a lien-free vehicle title.

Step 3- Once you have the required documents together, the customer representative will then guide you through the rest of the process. Before you know it, in just a half hour you'll be walking away with anywhere from $300 to $1,400 in cash to get your vehicle that much needed repair work, or any other unsuspected finances that have you in a mind.

Finding the best way to get a car repair loan with bad credit can be easier than you think, as you can see with the information provided above.

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

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.