Car breakdowns are possibly one of the most harrowing experiences known to mankind. In addition to the inconvenience of having to move around without your car, it’s a nightmare to manage the costs of a sudden car repair.
Not only can these sudden expenses strain your monthly budget, but they also add significant pressure to your overall finances. While we understand how stressful it can be, the question remains, “What do you do when your car breaks down without any warning?” Especially when you can’t really afford to pay for the repairs?
Well, that’s exactly what we’re here to discuss.
In this article, we’ll take an in-depth look at some of the top ways to finance emergency car repairs to help you be prepared the next time you find yourself in a tough spot.
What to Do When Your Car Breaks Down
When it comes to car breakdowns, most of the time, there’s really no telling what the reason may be. However, regardless of why your car stops working, there are a few things you need to do immediately.
- Switch on your emergency lights,
- Slowly steer the car to the side of the road and bring it to a stop.
- If the conditions are safe, get out of the car and get away from the traffic.
- Make sure all the passengers get out of the vehicle.
- If it’s a highway or a busy street, do not try and check what’s wrong by yourself.
- Call for breakdown services and let the mechanic come and determine what needs to be done next.
- If the car needs to be towed, arrange alternative transportation to reach your destination.
For further information about car smash repairs make sure you check out NRC Group.
How to Get Your Car Fixed
Once your car is safely towed to the garage, it is time to figure out the repairs and their costs. Get an idea of the number of repairs your car needs and a price estimate from the garage. Usually, the garage will offer to procure replacement car parts. However, a better idea would be to buy high-quality cheap car parts online at a discount.
5 Ways to Finance Emergency Car Repairs
Once you have an estimate of how much it’s going to cost to get your car fixed, it’s time to make the necessary financial arrangements for it. In the best scenario, you may have an emergency fund that you can lean on. However, if you’re running low on finances, you may have to turn to various financing options.
Fortunately, to help you make the right choice, we bring you the top 5 financing options that you can use for emergency car repairs.
1. Credit Cards
One of the easiest ways to finance your car repair is by simply using your credit card. However, before you do that, it’s crucial to check if your existing credit limit can cover the expenses. This solution is a good fix if you can conveniently repay your credit card bill in full by the end of the month.
However, if you can, the cost of credit may become very expensive, in which case it’s best to consider other options.
2. Personal or Payday Loans
Personal loans are one of the most commonly used options to pay for a variety of sudden, personal expenses. Following are the types of personal loans you can consider.
- Loans from Family or Friend:If you are comfortable borrowing money from family or friends, this could be a convenient and short-term option for you. However, you must ensure that you stay true to your word while repaying the loan on time, or it could sour your personal relationships.
- Payday Loans: Despite their negative reputation, payday loansare an instant and convenient way to procure finances. If you are sure that you can pay off the loans conveniently, availing these services from a trusted payday loan lender can be a good idea.
3. Mechanical Financing
The ideal way to go about this would be to get a cost estimate from at least two to three repair shops to see which one offers affordable services without compromising on quality. Ask around and check online for the best low-cost repair services for your car.
The next step is to locate a car garage that also offers financing services. If you are based in Northampton, make sure you explore a few car garages in Northampton that offer fix-now-pay-later options. This can be an incredible way to finance your repairs, since mechanic financing options generally allow you to pay in easy, interest-free installments.
Moreover, it’s a fast and convenient solution, as you can avail repairing and financing services under one roof, with much less paperwork involved.
4. Roadside Breakdown Cover
A breakdown cover provides for instant mechanical assistance and financial support as well. Once they arrive on the scene, the mechanic will see if the problem can be fixed on the spot. If not, they will tow your car to a garage (or a recovery facility) for further repairs. Breakdown cover isn’t typically part of car insurance. You can purchase it separately in case your car insurance doesn’t have any provisions for it. However, make sure you choose a trusted breakdown cover insurance provider and carefully go over the list of repair services they cover.
5. Car Repair Insurance
Does your car insurance policy cover emergency repairs? If that’s the case, remember to file the insurance claim as soon as possible. The insurance company will require you to fill out the necessary documents, provide images of the parts needing repair, and provide a cost estimate. If your car needs a major overhaul, the insurance company might send an insurance agent to assess the situation in person.
In Conclusion
Unexpected problems and sudden breakdowns are a part of life for every car owner. A broken-down car renders you immobile and unable to go about your routine efficiently. To ensure minimum stress and inconvenience, it is ideal that you pay attention to the regular maintenance and servicing of your vehicle.
However, life rarely presents us with ideal situations. Thankfully, there are several viable options to choose from to pay for emergency repairs. Before you decide on one, it is important to analyse the situation and weigh all your options.
One of the best ones has to be a car repair finance service that adequately covers your expenses yet is flexible for easy and stress-free repayment. W hen you choose a reputed and trusted finance service provider, there is a lesser chance that you will be burdened with hefty installments and debts.
