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Can I Get Car Repair Financing?

Finance Paperwork with Glasses

 

Car repair financing with bad credit is doable. Therefore, you do not need to put off vital repairs that could cost more down the road. Car repair financing is a viable option for you to prevent further damage to your car and keep you safe. At Performance Mercedes-Benz, we go over what car repair financing entails and how you can get car repair financing with bad credit. Contact us in St Catharines, and our finance team can help you further.

What is Car Repair Financing?

There are other programs you may have access to before choosing car repair financing; they are:

  • New car warranties
  • Extended and used car warranties
  • Collision insurance

However, not everyone has these coverage options, and if not, expenses from a malfunctioning car part or after a car accident can max out your budget.

You can alleviate the financial stress by obtaining a car repair loan. A car repair loan is considered a personal loan. Whether the loan is secured or unsecured is up to the lender. When a loan is secured, the vehicle’s title will be collateral, and a credit check is required.

Should I Opt for Car Repair Financing?

Before choosing car repair financing, here are some tips for Niagara-on-the-Lake drivers to consider before making a decision:

  • How much is your car worth right now?
  • What would it cost to buy a new or used car?
  • What are the overall costs associated with the required repairs?

With that said, check to see if the cost of the repairs equals the same amount as a new or used vehicle; if so, it is more beneficial to replace your current car.

Car Repair Financing for Bad Credit

Not everyone has the perfect credit score, but it does not make them need a vehicle any less. Therefore, you may be wondering if car repair financing with bad credit is an option for you.

Although possible, it proves more challenging to obtain a car repair loan with bad credit. When Niagara drivers get car repair financing approval, it usually comes with a high-interest rate.

Our Finance Experts are Here for You at Performance Mercedes-Benz!

We want to help you get back on the road today! Our finance team is here to answer any financing questions you may have about car repair financing and more. Do not hesitate to contact us and find out your options. If you are looking for a used car, take a look at our used vehicle inventory.

 

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