Can I Get Car Repair Financing?

Woman signing a car insurance policy, the agent is holding the document

Are you putting off essential repairs on your vehicle because you can’t afford it? Driving an automobile around Morton that needs repairs now could cost you a lot more later. Fortunately, the finance team at Mike Murphy Ford may be able to help you get car repair financing Learn the basics about car repair financing below, and if you want more information, contact us.

What is Car Repair Financing?

So, what is car repair financing and what do you need to do? Car repair financing is a personal loan that is used for vehicle repairs. You might need to use your car as collateral, but whether it needs to be secured or unsecured is up to the lender. A credit check will be required to qualify for car repair financing. If you’re considering getting an auto repair loan, you may want to get a credit report first to check your credit. Remember, auto repair loans shouldn’t be used for routine maintenance like oil changes or new tires around in Peoria.

Car Repair Financing with Bad Credit

Do you wonder if you get car repair financing with bad credit? Car repair financing with bad credit is possible, but you’ll have to pay a much higher interest rate on the loan. Because of that, East Peoria drivers with bad credit should think about if it’s worth paying a higher interest rate to get the car repaired now, rather than waiting.

Is Car Repair Financing Right For You?

If you live around Pekin area and you’re thinking about car repair financing, you should think long and hard. Below are some questions that will help you decide if repairing your current car is a better idea than buying a new one. Ask yourself the following questions:

  • How much is your current vehicle worth as it is now without any repairs?
  • What would it cost for you to purchase a new or used vehicle?
  • What will be the cost of your needed repairs?
  • What will be the value of your vehicle after the repairs?

Call the Finance Specialists at Mike Murphy Ford Today

If you are ready to get a loan to repair your automobile, even if you want car repair financing with bad credit, call Mike Murphy Ford. We are at your service. Our experienced finance specialists are happy to help. While at the dealership, you can check out our extensive inventory of new and pre-owned Honda models. Give us a call today!

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