No Auto-matic Money: How to Pay for Car Repairs and Associated Costs


Whenever an unexpected expense arises, it can be stressful. You may have to pay for something you just don’t have the money for.

Even if you have an emergency fund, perhaps it won’t be enough to cover your costs. Vehicle repairs are one of the expenses that can take you by surprise.

You can’t predict when a part of your car might fail, or you might get in an accident. If you do have an accident, your repair costs could also be accompanied by medical costs.

Finding the money to cover these expenses can be hard, but it’s not impossible. Consider the following methods if you want to take care of the costs.


Your Insurance

Your first port of call if you need repairs should be your insurance. It’s the best option to consider if you’ve been in an accident.

In fact, it’s essential to contact your insurance provider to let them know about the accident. They can help you pay for a number of costs, but it’s important to remember it may not be everything.

Check your insurance policy to see what they can pay for and up to how much. Your insurance provider might even be able to provide roadside assistance if you break down.

As well as your insurance, check other services too. For example, some credit cards come with emergency assistance as a perk.


Get Compensation

Your auto insurance won’t cover everything. There could be repairs it won’t provide for, especially if they are very expensive. If you’re in an accident, you could also have other associated costs.

These include medical bills and missing work because you’re injured. You might be able to sue for compensation if the accident wasn’t your fault. It could pay for repairs, medical costs, and more.

However, if the accident was wholly your fault, you won’t have much luck. Many people wonder one thing: can I make an accident compensation claim if I was partly responsible?

The answer to this is “maybe”. You might be able to make a claim if you had some part in causing the accident. It’s best to speak to a lawyer to determine your chances.


Get a Good Deal

Before you choose somewhere to get your car repaired, you should shop around.

You might be able to make some significant savings if you choose the right place. It won’t help you find the money you need, but it will reduce your bill.

Before you settle on anywhere, get quotes from a few different places. Make sure that they’re reputable, as you don’t want to be getting more repairs in a few weeks.

If you want to save, it’s a good idea to ask outright about any discounts. You won’t lose anything by asking. You might also consider asking at vocational schools.


Work with the Repair Facility

Many auto repair shops partner with banks and credit companies to offer financing.

If you want to spread the cost of your repairs, it’s worth asking about what financial plans they can offer you. These financing plans are most often offered for extensive repairs that cost a lot of money.

You might be able to access financing even if you have a poor credit score.


Find Financing Elsewhere

Another option is to find your own financing. You might be able to access a variety of credit types that could be useful.

Firstly, you might consider using a credit card to help spread the cost of repairs. Another option is to take out a home equity loan, which is a popular way to pay for auto repairs.

There’s also always the option of asking friends or family members if they might be able to loan you some money. Some people might consider payday loans, but many will recommend against them.

It’s important to weigh up the pros and cons of different types of credit.


Use Savings or Sell Assets

Of course, before you take out any credit, it’s best to access funds you already have.

If you’ve been smart and were able to save, you might have an emergency fund. Your savings can come to the rescue, and you can build them back up over the next few months.

If you don’t currently have cash, but you have assets, you could sell some things. It might not be anything that valuable, but a few things can add up to help you pay your repair bill.


Final Thoughts…

The cost of repairing your car and taking care of other related expenses can be high. But you have a choice of ways to pay to make things easier.

What have you done when dealing with repair cost?  Share your thoughts, ideas and comments below.


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