Figure this out: you are on the way to your next holiday destination. Your car is crammed with bags and a traveler’s bed and food for the next three days. You are all happy until the unexpected happens: the car develops a mechanical problem and breaks down. What happens when you realize that you can’t go on with the journey as preplanned because you are on a budget? What do you do to fix the financial mess you are sure to incur? These are some queries you might not have answers to whether the car breakdown has been caused by a flat tire, a minor or major accident, or just fuel crisis, etc.
This happens all the time, and we all hate car breakdowns. They mean more time on the road and therefore delayed travel plans. They also say more unplanned for expenses repairing the failure. However, if you have to beat your goals, it is paramount that you get to fix the car. And since it is unlikely you had planned for the mishap, you may opt for fast cash from AchieveFinance to secure the repair budget. This helps in turning things around, meaning you can get back up and running faster. Let’s explore how to get through a car breakdown situation in detail.
How to Arrange Fast Cash Now in Case of a Car Breakdown?
Now, car breakdowns are usually unanticipated. Yes, they often occur when you least expect, and when you are least prepared in terms of cash. For starters, though, if you are traveling in multiples and your car happens to break down, it is only prudent to see if everyone on board is safe. It is more so important if the breakdown is caused by accident, minor or significant. In case there are casualties, you should call the police and the ambulance to help contain the situation.
You might have to incur some medical bills plus when the car breaks down, it is apparent that you will incur extra costs on repair expenses. In case it’s a major accident that resulted in extreme damage, then you may want to involve your insurer to get a new car. If it’s a minor repair then you will have to do it out of pocket. In other words, you can repair it if it’s far much easier and less costly for you.
Well, you will have to consider getting an estimate of the amount of money you will need to pay up for the repair. This will help you in planning for the process and also in getting the right repair parts that may be necessary. Again, a car breakdown is an emergency; thus, you may need to borrow some cash to fix it and repay it later.
There are many types of financing you can use to help you fix your car. Let’s look at some of them in detail:
Financing Car Damage Repairs
1. Payday Loan
One of the best short-term loans to go is the Payday loan. It’s a form of unsecured loan which you can borrow and pay it on your next payday. By unsecured, we mean the lender will often lend you the cash without asking collateral. That’s why it’s one of the best loans to go for if you need quick cash with no credit rating or even if you have a terrible credit history. You will have to prove that you have a steady income.
You will just need to apply for the loan, verify your personal details, agree on the terms, and you are good to get the loan within a few days or even some hours-depending on the lender. You are then expected to pay the loan on your next payday. So, don’t take up a loan you won’t be able to repay on your next payday.
2. Cash Advance
A cash advance is more or less similar to a payday loan. The only difference is that you don’t have to repay it with the next salary. Again, it doesn’t need a hard check on your credit; thus it’s fairly easy to borrow and use the cash to fix your car damage fast. It’s an excellent way to get your car running well again, albeit with an extended repayment period.
3. Personal Loans
You can also go for unsecured personal loans to get the cash to fix the car. This is a good option if your credit history is good, but you may have to wait a bit longer to get your cash. The advantage is that you can get more cash thanks to your record with credit repayment. The loan interest rates are often fixed, and the repayment periods are also a bit longer.
4. Credit Card
You can also use your credit card to finance your car repair. This is one option of if you have a credit card with an open limit plus the interests are often friendly.
5. Mechanic Financing
You can also seek financial assistance from some mechanics. Some will have partnered with lenders to offer repairs to their clients. Besides, they might be good mechanics who can give you the best dealings in terms of repair and spare parts. That said, this option is quite rare, plus financing doesn’t necessarily mean the mechanic is a pro in repairs. So be a bit careful with this deal as it can just be one marketing scheme.
That’s it! Remember, car breakdowns are frequent, and they occur when most unexpected. They usually plunge you into a financial hole, besides slowing down your travel plans. It’s thus essential to know some of the necessary actions you can take in such a situation. This includes identifying the available financial solutions that can get you up and running faster. That said, take loans smartly so that you don’t end up racking up debts you won’t be able to pay back.