A large part of the population depends totally on their vehicle in their day to day. Go to work or university, pick up children at school or even as a professional means of transport when they are self-employed and must travel frequently.
Vehicle is essential in our daily life
An unexpected breakdown can completely dismantle the routine of these people and become a real headache. For most, the vehicle is essential to continue with their daily life, therefore, the cost of repair is practically mandatory.
But if to the uncomfortable situation, it is likely that you will have to take the car to a workshop and do without it for a few days, we add the financial outlay that it supposes and that was not foreseen in the plans, this situation can become in serious trouble.
At this point we may have a cheap mattress and we can use these savings to face this repair.
However, one of the problems that vehicle owners continually face is that of not being able to assume the payment of vehicle repair in certain cases.
The first thing to do is request a quote from the workshop before making any type of repair and avoid unpleasant surprises. Once the amount of the amendment is known and, if there is no money to order the settlement, the recurring question as owners of a vehicle whose repair we cannot afford is the following: what options do we have to pay for it?
There are different alternatives such as:
- 1. Ask your boss for an advance if you are working, although many companies are not in favor of this and you may get a negative response.
- 2. Apply for a personal loan from the bank. Generally, the concession is fast if the conditions required by the entity are met. Among the required documentation are usually the latest payrolls or employment and banking history etc. One of its drawbacks is the large interest payment that it entails.
- 3. Finance it with a credit card, however, the amount granted on credit will depend on the type of customer you are and the type of card you have.
- 4. A fast car loan, is usually used for amounts less than 600 USD with a repayment period of maximum one month.
The latter is one of the most viable and effective options to quickly solve this problem.
These types of loans are aimed at meeting the expenses of daily life that for different reasons occur at times when the owner does not have the money to pay them.
What does it take to apply for a car loan?
In most microcredit companies, the procedures are done online or by phone. Loan applications are often associated with long waits and a lot of paperwork, but this is not the case with these companies.
As soon as they request information, the client’s DNI / NIE and an account number where they deposit the money are usually enough and in a short time you can enjoy the loan. It is not usual to ask for neither payroll nor guarantee and, in many cases, the first loan is free.
But is it a good idea to apply for car loans in these cases? Yes, because getting a microcredit allows the repair of said breakdown to be carried out and you can continue with the routine without problems. You can get the money instantly to finance the payment of the repair of the motorcycle or car and have it arranged ahead of schedule to move around the city or highway and travel wherever you want with greater security.
The unforeseen occur at the most inopportune moments and are not usually cheap. According to data extracted from the study by the Institute for Energy Savings and Diversification (IDAE), Spaniards spend more than $ 2,000 a year on vehicle maintenance.
The average fuel amount of a car is $ 1,200 and the rest is used to pay taxes and sudden last minute situations, which can increase spending.
Clutch and fuel pump problems are two of the most common breakdowns on motorcycles. In the first case, its price is around $ 300 and in the second, its cost increases, since in these cases most workshops decide to replace the existing one with a new one and it usually amounts to $ 500.
Oil leaks and fluid loss is also frequent vehicle damage. These unforeseen events prevent the car from working properly and it is important to go to a mechanic and get the vehicle ready.
These repairs do not have excessively high prices and that is why opting for one of the car loans is one of the most convenient choices.