Being without a vehicle is no laughing matter for most of us. We depend on our wheels far too much and without them, we can not get to work, we can not get our kids to school and we basically can not function. So, what happens when that car breaks down and you have no money or vehicle warranty? Here are some possible solutions.
1. Get A Free Analysis
If the car is still moveable and it is registering a check engine code, you can have it read for free. Most auto parts stores will read your check engine code for free. It is a good deal for them because they will hopefully get a sale for some auto parts. It is obviously a great deal for you, because you don’t have to pay a mechanic to do it for you.
Once you know what code your vehicle is throwing you might be able to find a simple fix. Sometimes these things are simple and with the help of the auto parts store, you might be able to locate an easy to change part that could be causing the problem. It could be a simple sensor causing all of your issued and you might be able to get back on the road for under 100 dollars.
It is worth a shot, so if your car can move at all, why not try an auto parts store for a free code reading.
2. Consider A Cash Loan
If the problem is going to cost you more than 100 dollars, you might need a little help. Luckily, we can help you get an offer if a loan is what you need.
Just click here to get a loan quote and fill out the short form. It takes about 2 minutes, so you are not looking at much of a time commitment. If approved, you will get an offer from one of the lenders in our loan network.
The great thing about getting a cash loan quote is that there is no obligation. It does not hurt to simply get an offer. In addition, if approved and if you accept a loan, you will get money deposited directly into your checking account. That means that you are not tied to any one mechanic. You can do the repair yourself or choose any auto shop that you want.
Keep in mind that loans do come with fees and are serious matters. If you decide this is the route to go, make sure that you can afford the payment before you fully commit.
3. Use In Shop Financing
Many private mechanic shops will offer in shop financing. If your credit is good enough, it could even be interest free for a certain period of time.
Keep in mind that there is a reason that shops will offer financing. It is because it will typically be a secured loan. This means that if you fail to make the necessary payments, they may be able to seize your vehicle. With that in mind, it could still be a good option for you and the interest may be lower than that of a personal loan.
When deciding on a shop to do your repair, try to get estimates at several different ones. You will probably see that prices vary quite a bit. This is not to say that you should go with the lowest bidder however. Take things like reputation and thoroughness of the quote into consideration. Sometimes it is best to spend a couple hundred dollars more to get quality work you can count on.
4. Trade It In
If a vehicle is starting to give you a lot of problems or if the value of the vehicle do not warrant costly repairs, it might be time to trade it in.
Most dealerships will give you at least 1000 dollars for just about any vehicle, running or not. Use the down payment to help get you approved for a more reliable, newer vehicle.
If you have good credit, this is an easy proposition, but what if you have bad credit? It can be tough, but you can often still get the job done.
Most dealerships have very good credit departments that can get just about anyone financed. Using your old vehicle as a trade in, you have fairly good odds of getting approved for a loan for a much more reliable vehicle. If all else fails, a cosigner can help you get that elusive approval.
When choosing the cosigner method, you piggy back off of another persons credit. This can get you approved and often with a decent rate but it also obligates that person to fulfill your debt if you do not. Because of this, you should try to refinance the loan after 6 months of on time payments.
5. Stop Driving Altogether
This is not an option for all of us, but if you have money problems and you live in a major city, you might consider going with public transportation.
Sometimes, you have to face the facts. If you can not afford to own a car, you just can not afford to own a car. You need a lot of money to be able to own a vehicle. They can be quite expensive with fuel, maintenance and that huge insurance payment.
Living without a vehicle is getting easier and easier and you can probably get away with it if you do not live in a rural area. There is public transportation like buses, trains and subways that can provide for the bulk of your travel needs. Then you have very affordable Uber rides for those times you need to get somewhere in a hurry. Finally, just about everything that you need to buy can be delivered cheaply these days. With Amazon and regular grocery store delivery, the need for an automobile is lower than ever.
If you can swing it, consider just selling your vehicle outright and switching to a car-less life. It might be the best thing you ever do.
There you have it, 5 possible solutions to your vehicle dilemma. One of these should surely be able to solve your problem and get you moving again.