What happens if our car got unexpectedly broken down when we can’t afford to pay for an expensive repair? We have to take our car off the road until such a time as we could afford the cost of the repair; it may be a several months to wait if repair have been costing us in thousands of dollars. Anyways, days are gone when we left with no option except to use our credit cards or applying for a personal loan, but if we don’t have credit card or an established credit profile then we could not go ahead to solve our problem. Although credit card is an expensive option that we should only use for the amount, which we can bring back in our upcoming bill payment. Fortunately today we have alternatives to such situations.
The vehicle repair financing is a relatively new kind of lending option in Canada for your consumer as well as commercial lending need that have been opening doors to auto mechanics and auto service centers to establish their business with out loosing their clients that don’t afford timely repair due to money problem. So, you may find a lender through your own auto mechanic, otherwise you may check auto repair financing company directly through yellow pages, local business directories or search engine online.
These auto repair-financing companies offer financing specifically to those with no credit, poor or bad credit history because this financing is offered against their own vehicle where borrower’s vehicle is used as collateral to secure the loan. Financing is secure so most of the applicants are approved even with past bankruptcies. All you need to have is some form of steady income, a car that’s less than eight years old, car insurance, and a clear car title. This type of loan is also works for truckers in which they can get their truck repair loan that usually carry huge expenses.
You’ll also be surprise to know that paying back this kind of loan is also easy and manageable that may take one to two years of equal monthly payments according to your affordability and budget, and you’ll find those repayment terms easy to follow. You can also increase, change or manage your loan payments to best suit your schedule and financial goals. Don’t put your life on hold due to car repairs! Get the money for those car or truck repairs, sign up for an auto repair loan and get your life back on track in next 24 hours.