When Your Car Breaks Down in Missouri, a Car Repair Loan Can Help
Getting your car or motorcycle repaired is never convenient, but it is necessary. If you are a hard-working Missourian whose car has broken down, and you rely on your vehicle to get to work, getting your car repaired is a necessity. There are more than 4 million licensed drivers in Missouri. A majority of Missouri residents rely on their vehicles for daily transportation and survival. Figuring out how to pay for auto repairs can be a significant hardship, especially when maintenance and repair work is needed.
How Do Car Repair Loans Work, Compared to Other Types of Loans?
A car repair loan in the state of Missouri works just like other installment loans, but you use it to repair your vehicle. Essentially, car repair loans are personal cash loans, which are paid back at regular intervals. They have set payment amounts and a clear timeline, so there are no surprise changes over time in terms of loan repayment.
What Types of Repairs Do People Use Car Repair Loans For?
Vehicles have many moving parts that need repair over time. The amount a mechanic charges from shop to shop can vary. Here are some examples of the most common types of repairs that Missourians use car repair loans for:
- Brake replacement: Brakes wear out over time and need to be replaced in order to maintain the safety of the vehicle. Replacing front and rear brakes together can cost upwards of $500.
- New transmission: When the transmission of a vehicle goes, it takes the car out of commission. Replacing the transmission is a costly procedure. Parts and labor can cost several thousand dollars.
- Tires: Tires can be replaced individually or all at once. For larger vehicles like trucks, a tire blowout could set a driver back $1,000 or more.
- Body damage from a collision: Collisions happen every day. Bodywork is expensive, and insurance frequently does not cover it fully. Out-of-pocket costs for collision repairs can balloon quickly and leave drivers with bills that range from hundreds to thousands of dollars.
- Exhaust work to meet emissions standards: If your vehicle doesn’t comply with the state of Missouri’s emissions standards, you may need to spend hundreds or thousands of dollars just to ensure your vehicle passes inspection. These costs can cause financial hardship but are necessary in order to comply with state laws.
When considering the potential costs involved with vehicular maintenance and repair, it’s no wonder that more and more Missourians are turning to car repair loans as a source of aid. If your vehicle needs repairs but you’re having a hard time coming up with the money, a car repair loan is a great solution.
How Do I Apply for a Car Repair Loan?
Secured car repair loans require collateral. For these loans, the vehicle itself may be used as collateral. On the flip side, unsecured loans do not require collateral. Applying for a car repair loan is generally straightforward. You can do it online from the comfort of home and the process is simple and straightforward. In order to complete an application, you simply need to submit your contact information, proof of a checking account, some form of income verification, and either a credit report or proof of debt-to-income ratio.
No matter what your credit score is, if you live in Missouri and are looking for a car repair loan, let Western Shamrock put its more than 50 years of experience to work for you. Our dedicated team can help you get back on the road and answer any questions you may have along the way. Fill out our application today to get the process rolling.