Can I Get Car Repair Financing?

If you’re in need of important vehicle repairs, or recently experienced an accident in Alexandria, you may be asking yourself, “Can I get car repair financing?” Paying for an unexpected service can be a major hit to your budget, but luckily, you do have repair financing options at Alexandria Volkswagen! Learn the ins and outs of this special financing with this guide.

What is Car Repair Financing?

Car repair financing (also known as auto repair loans) are personal loans designed to cover the cost of vehicle repairs. They can alleviate budgetary burdens after your car breaks down in Arlington. To obtain this kind of financing, lenders will need to run your credit, and you’ll either receive a secured or unsecured loan. A secured loan will likely use your vehicle’s title as collateral.

There are ways to eliminate the need for repair financing, including:

• Collision insurance
• New car warranties
• Extended and used car warranties
• Prepaid maintenance plans

But if none of these options apply to you, car repair financing can be a helpful option to make necessary repairs.

Should I Opt for Car Repair Financing?

Before taking on any new financial commitments, it’s important to evaluate whether the benefits outweigh the costs. Cars depreciate over time, and at some point their continued investment may not be worth it. Ask yourself the following:

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

If you can get into a new vehicle for less than the cost of repairing your car, it may be a smarter move to opt for a replacement over repairs.

Car Repair Financing for Bad Credit

Drivers with a poor credit history can still get car repair financing, though there will be higher interest rates involved. Use a payment calculator to get a sense of what your monthly payments will be, and factor in higher terms.

Our Finance Experts are Here for You

Contact the service center at Alexandria Volkswagen for additional guidance on car repair financing. We offer a variety of rotating service specials to help bring down the cost of your visit, and use genuine Volkswagen OEM parts for all VW vehicles. We look forward to working with you!