Get your car back on the road with a Spring Financial car repair loan

There’s no need to deal with the hassle of being stuck without a functional car when repairs are needed. With a Spring Financial car repair loan, you can seamlessly access the funds you need to handle important fixes. Our quick approval process ensures you get the financial support you need, often faster than what it takes to repair the car itself. 

How to pay for emergency car repairs?

Unsecured car repair loans 

These are among the least risky and fastest financing options. Loan amounts mostly range from a couple hundred to tens of thousands of dollars, making them ideal for most people looking to cover repairs or alterations, whether aesthetic or functional. These loans’ repayment terms are flexible, even up to 60 months, and their fixed interest rates ensure predictable loan payments. 

Secured loans 

Secured personal loans are backed by assets like a house, car or other valuable property. While these often feature lower interest due to the involved collateral, it’s imperative to note that you risk losing your asset if you fail to adhere to loan terms. Make sure to consider the risks before you commit, especially if your collateral is something you are looking to repair in the first place.

Emergency funds 

Using saved-up funds is often the fastest way to cover an unexpected expense. However, it’s best to assess how taping into those funds will affect your financial security cushion. Contemplate how much will remain in your balance after the payment is processed and whether that amount will still offer the peace of mind and stability you need for future emergencies.

How do you get the best terms for a car repair loan? 

It’s best to start by building a strong financial profile, including strengthening the factors lenders review during the approval process. Those would be having stable earnings that allow one to repay the loan comfortably, minimal existing debt, being the age of majority, and having a solid credit history. 

With Spring Financial, you can get the most value out of your car with flexible financing options at competitive rates for your essential repairs. Access up to $35,000 with rates starting as low as 9.99%* today.  

Bad Credit Car Repair Loans

Personal loans 

You can still qualify for competitive financing with poor credit. While eligibility criteria vary by lender, credit isn’t the only factor considered in the approval process. Employment, earnings, debt, and age are usually reviewed too; however, a high score can improve your chances for better terms. If you have time, consider a credit-building program to help increase your score. 

Lenders like Spring Financial welcome all credit scores to apply for personal loans. But if improving your credit score is a priority, consider joining Spring Financial’s credit-building program, The Foundation. Designed to boost your credit in just 12 months, The Foundation is available to anyone, as it features a 100% approval rate. 

No credit check car repair loans

Loans like payday loans skip credit checks in the approval process. While they often provide instant approval, these loans are often not recommended. It’s mainly because they tend to feature high interest rates, which can reach 400%. These rates could cause the total repayment to far exceed the initial borrowed amount, possibly making them costly in the long run.