girl getting car title loan

How People Are Paying For Their Engine Repair Expenses

Since 1969, the average cost of engine repair expenses has increased by a jaw-dropping 872%. But what's worse, is that repairs like this always seem to happen at the worst possible time. 

On average, you need over $1,100 every year just to perform general wear-and-tear-related repairs. So, when anything else goes wrong, such as engine trouble, you will need to spend even more. This can cause an issue when you don’t have the funds you need to fix your only form of transportation. Luckily, you can participate in a repayment plan, get a title loan, or even a credit card to cover the costs of repairs. 

Going without a car probably isn't an option for you. After all, how else will you get to work, to school, pick the kids up, or run errands? To find out how people are paying for their engine repair expenses, we've rounded up some options for you to look at in the following sections.

What Types Of Engine Repair Expenses Justify A Loan?

Before we dive right into the payment methods, it's worth understanding what sort of vehicle repairs justify getting a loan. Not all repairs are equal — there's a considerable difference between replacing the ignition and buffing out a scratch or two from the passenger's side door panel.

It's important to note which things are important and which aren't. Usually, if the check engine light is glowing, the repairs are likely more expensive and urgent, sparking the need for an auto repair loan. 

Some typical check engine repairs and their average costs are as follows:

  • Catalytic converter replacement = $1,375.70
  • Fuel cap tightening or replacement = $25
  • Oxygen sensor replacement = $245.88
  • Ignition coil replacement = $214.98
  • Evaporative emissions purge solenoid replacement = $150.85
  • Mass air flow sensor replacement = $345.69
  • Ignition coil and spark plug replacement = $386.89
  • Thermostat replacement = $240.46
  • Fuel injector replacement = $457.63
  • Transmission/drivetrain failure = $2,736
  • A/C condenser failure = $836
  • Complete engine assembly = $3,269

How Can You Pay For Engine Repair Expenses?

man holding title loan cash in car

As you can tell, engine repairs can add up quickly. In a perfect world, you'd have a sufficient emergency fund, but that just isn't the reality for many Americans like you. 

Therefore, you may want to consider one of the following options when you need to fund a vehicular repair:

1. Ask A Friend Or Family Member

We know that asking a friend or family member for money can be awkward and uncomfortable. It's never easy to admit you're financially struggling, but your loved ones may be more receptive than you think. 

If you choose this option, make sure you write your agreement down. This removes ambiguity and ensures both you and your relative or friend are on the same page. We recommend specifying when they can expect to see their money back, and always suggest paying interest (although many relatives won't allow you to do so). 

2. Ask Your Mechanic For A Car Repair Installment Plan

Depending on the mechanic, you may have the option to set up a repayment plan. This would allow you to pay for the work in weekly or monthly installments, making the cost of labor and materials more manageable.

This option may not be available at small or independent repair shops. You may have better odds using a larger garage with the working capital needed to provide such programs. 

3. Get A Repair Credit Card

A repair credit card might be a good choice if you can afford to repay your balance in full by the end of the promotional period. However, you shouldn't use it if you cannot repay within that timeframe. Otherwise, you'll suffer the consequences of a high-interest rate. 

4. Use An Unsecured Personal Loan

Unsecured personal loans are another option to fund engine repairs. However, be prepared to deal with a hard credit inquiry, which can impact your score, even if you don't gain approval for the loan.

5. Take Out A Louisiana Car Title Loan

Finally, you can get a car title loan from us to fund your vehicle repairs. We do not conduct any hard credit inquiries, and you can get the money needed within 24 hours or the next business day.

Getting a title loan from us at Cash Cow of Louisiana will require you to provide a driver's license or state-issued ID, a lien-free title in your name, and a car, truck, or van. 

Get A Louisiana Car Title Loan Right Away!

man requesting a title loan online

Credit cards, personal loans, and mechanic shop repayment plans are all great ways to fund engine repair expenses. However, a Louisiana car title loan is one of the quickest. You can get up to $1,400 to fund your vehicle repairs in less than 24 hours. Sometimes, you'll even get the money on the same day!

So, give your local Cash Cow branch a call or complete our handy online title loan request form to start the process. We'll contact you as soon as we receive your information so that you can get the cash you need as soon as possible. 


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.