Loans for car repairs - Borrow up to£5000 as per need
Starting from little bumps to troubling engines, car issues can be many. Such unplanned expenses can give you the worst nightmare. Relax! You can now split the cost with easy instalments available with car repair loans.
Get the repair done in time without paying anything upfront. This is because Fastmoneyfinance is ready to sponsor your expenses. Our flexible and fast services have simplified the borrowing process so that you can get funds in no time.
Are you ready to check our offer? You can get pre-qualified loan proposals right here in a few minutes. Fixing your car will no longer be painstaking for your wallet.
What are car repair loans?
A loan for car repair is a financing arrangement meant to cover the cost of fixing the car damage. Therefore, no worries if you do not have cash readily available in your cash reserve. These loans allow you to take any amount from £1000 to £5000.
This financing option allows you to repair the car on time and repay the debt through instalments. The size of the loan amount will determine the repayment duration, which can vary from 6 to 36 months.
Can I pay monthly for car repair financing?
Yes, you can pay back in a monthly pattern. We need you to pay equal instalments over the given schedule. There will be no surprising fee or cost in the form of surplus fees. Besides, you can even consider repaying loans in advance. For that, you are relieved frompaying any pre-payment fees.
What types of repairs can be financed with loans for car repair?
You can have loans for car repair to do the damage control. These loans are helpful in various ways, and there are no limitations on their usage. Feel free to pay the cost of repair outright and even maintenance bills.
Apart from the general direct lender loan for car repairs, there are specific instances when these loans can be helpful.
- Getting new tyres: No need to hesitate to replace the damaged tyres. Safe driving should be your priority. Use these loans to meet the purchase price of a new tyre.
- Replacing brakes: They are one of the vital parts of a car. At times, replacing them can be very costly. You can insert the new ones with the help of this funding solution.
- Emission test: Going through this test is mandatory. However, it is a pricey procedure and you can make use of these loans for this purpose.
- Damage recovery:Imagine your car had an accident recently. If you have the most basic insurance for your car, you have to pay a higher price for the damage repair. Compare this cost with the borrowing rates ahead of getting these loans.
Using a car loan for car repair purposes might not be possible. However, you can have this financing option for replacements and repairs, changing smashed windows, dent or scratch repairs, upgrading the upholstery or any internal repair, re-painting, etc.
What features should I expect with loans meant for car repair?
Out of the many things that may concern you about these loans, specifications or features are also there. The different ways you can take advantage of this financing option can tell you if they are worth considering.
- Quick virtual application:
You can apply for car repair loans with us using your laptop or smartphone. Produce the necessary details correctly in the online form. We will not enquire about any documents as the procedure is going to be streamlined. - Zero credit checking
Car repair loans need no credit check. You will not lose your credit score more as it will not be mentioned in your report. A soft analysis of your financial condition will take place to understand your affordability. Get these loans even when you do not have any credit history.
Is it possible for me to get a car repair loan with bad credit?
Yes, you can have loans with poor credit for car repair reasons. Here, at Fastmoneyfinance, we give every loan applicant like you a fair go, provided they match the criteria. A blot in your credit history cannot justify your affordability.
As a responsible lender, we ascertain your capacity to repay on time. With a stable financial condition at present, you always have the best chance of getting through the loan approval process. Get a grip on the payments of car repair loans for bad credit by keeping these pointers in mind.
Opt for an affordable amount
Choosing an affordable amount is critical if you want to repay loans without exertion. Assess your requirements and capability first.
Pick a suitable payment frequency
You can pick a monthly, weekly or fortnightly payment structure. Whatever suits you the best, you can go ahead for hassle-free repayment despite poor scores.
Toggle the combination
Alter the combination of loan amount, term and interest to see how the loan payment changes.
How to estimate the actual cost of getting a car repair loan?
As a borrower, you must be curious to know the overall pricing arrangement. This gives you a perspective on whether there is anaffordable loan cost for you or not. The loan price is a combination of different elements.
- The principal amount you take out
- Interest rate as a percentage charged on the amount
- Origination or late fees
- APR or the annual cost of borrowing
- The span of the repayment term
Do you find it confusing? Review the example given below for your reference.
| Cash amount you can withdraw | £2000 - £5000 |
| Applications fees | Nil |
| Establishment fees | £200 |
| Other fees (optional) | Could be around £26 (added to the loan amount) |
| Annual interest | 48% |
| Length of term | 12 months |
*This is a disclaimer to help you understand how the pricing works in the case of these loans
We try to give exposure to someone who is striving hard with credit issues. In worst scenarios, getting a very bad credit loan for car repair is also possible here. Since credit scores are very low, you might be required to present collateral or a guarantor. Moreover, the borrowing cost will increase because of your risky status.
What are the other uncommon ways to get funding for car repairs?
Your creditworthiness is an essential element in deciding the different funding options you can explore. At the same time, your financial circumstance is a prime aspect to help you decide the best alternative. Here are the options for you.
Personal loans- Having a personal loan for a car repair can do the trick for you. Just opt for the collateral-free version of these loans, and you are good to go. This loan option can fulfil any trivial cash emergency related to the car.
Payday loans-These loans can be your best match when you require a small loan amount that you can pay back easily. Receive your salary the next month and clear off the loan debts without fail.
Are you in need of urgent loans to repair your car? We are here to help as we operate 24/7 and 365 days. Therefore, you can have cash in your account with bad credit car repair loans with direct lender facilities.