Can I Get Car Repair Financing?

car repair financing

If you need a large unexpected repair, you may find yourself a little short on cash. This can lead Hamburg drivers to wonder, “Is there car repair financing?” Yes, you’re able to finance car repairs at certain service centers. Discover the ins and outs of car repair financing, and get car repair financing with bad credit, with Mercedes-Benz of Newton.

Car Repair Financing: What is It?

Car repair financing is available to help you cover the cost of vehicle repairs. While these auto repair loans can be helpful when you’re in a pinch, there are some ways to avoid needing car repair financing altogether. These include:

If you aren’t covered by one of the above, a vehicle malfunction or accident could be a major drain to your wallet. Car repair financing can help ease this burden. Auto repair loans are often personal loans and can be either secured or unsecured, depending on the lender. For a secure loan, you’ll also need to put up the vehicle’s title as collateral. No matter the loan type, a credit check is often needed. 

Car Repair Financing: Is it Worth It? 

If you’re considering car repair financing to handle vehicle repairs, you’ll want to make sure it’s worth it for you in the long run. Answer these questions before applying for your auto repair loan: 

  • What is the total cost of the required repairs? 
  • How does that cost compare to a new or used car? 
  • How much is your car worth right now? 

If the costs for repairs are high, it may be a better financial decision to purchase a new or pre-owned vehicle. 

Car Repair Financing With Bad Credit

Car repair financing with bad credit isn’t impossible, but it can be challenging. Some lenders may be willing to work with you, but those who will require you to pay a higher interest rate. 

Speak with the Mercedes-Benz of Newton for questions about your car financing options, or warranties that could protect your vehicle long term, speak with the finance center at Mercedes-Benz of Newton! If you’re looking for great pricing on your vehicle repairs, check out our rotating service specials!

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Mercedes-Benz of Newton 41.0792303, -74.736367.