by Susan Paige
Dealing with car repairs is no fun for anybody, and these things happen unexpectedly, that’s why it’s always wise to save for a rainy day because we never know what could spring up in the future. As a car owner, you should learn a few things about car repairs, things like changing your flat tires, fixing your car battery properly, and so on. Knowing these simple and general repair skills will help you save lots of car repair money. People need cars to commute, for business, or to fulfill one obligation or another. Unfortunately, owning a car can be expensive but hey! You have countless paying options to help you get out of this mess.
Paying with credit card
Although paying with your credit card will come with some charges, but it’s still one of the quickest ways to transact. Paying with your card is generally much better than a payday loan as you’d be charged just a little amount for the transaction, unlike a loan where you’d have to pay a huge amount of interest at the end of the day.
Paying with cash
Paying for your car repairs with cash is usually the most feasible option. Carrying cash around may not always be safe, but it’s still the best way to pay for your car repairs. Paying with cash comes with no extra charges like paying with your credit card or making a mobile transfer. Although, the rate of cash payment is decreasing by the day especially in developed countries, but paying with cash helps you spend less and will help you negotiate better.
Borrowing from family or friends
Am sure you’d agree that most car breakdown happens when we least expect it or when we are facing a financial crisis. But the fact is, we’d have to find a way to repair our car as quickly as possible especially if the car is used for business purposes. One good option to help you pay for your car repair is by borrowing money from family or friends. You can borrow money from your wife or husband, brother or close friend – these sets of people will understand the situation you’re in and will likely give you a hand.
Getting a loan
Taking personal loan for auto repair should be your last option. Nobody wants to be in debt, but sometimes, taking a loan is the only option we have left. There are countless types of loans, but personal loans are a popular choice for car repairs. A personal loan comes with a fixed interest rate and a monthly payment system which will help you pay off your debt quickly.
Car repair sucks for everyone, and it seems they always happen when your budget is tighter than normal, with the above tips you should be able to weigh your payment options and go with the one that works best for you. Another helpful tip to help you come out of this problem in one piece is to get repair quotes from different mechanics.
Shop comparisons is your best friend when you’re working on a budget. Get a minimum of three different quotes to get the best quote for your car repair. Nobody prays for a car breakdown, but some things are inevitable. My advice? just as you save money for your children’s school fees and house rent, set up an emergency fund account so you can meet up with unforeseen events like a car breakdown.