Have you ever had unexpected auto repairs enter the picture? When incidents occur, depending on what’s wrong, the cost to fix the issues can sometimes leave your head spinning. For example, the various components within the suspension system prevent you from feeling every little bump when going down roads. They also ensure the car doesn’t bounce all over the place, putting you and others in danger. Therefore, if a piece goes out or malfunctions, it is in your best interest to fix it promptly.
If you don’t want to find yourself between a rock and a hard place when auto repair is needed, one thing you can do is get an extended car warranty. This warranty comes in handy in a pinch, especially if you get it from a reputable company. Reading resources like Protect My Car reviews can put you on the right track to finding the best extended car warranty.
Below, we’ve provided an auto repair guide full of tips just like these. With these tips, you can get your car the repair it needs without going broke.
Get Yourself a Warranty
One way to prepare for the costs of auto repair is to invest in an extended car warranty when you have the cash. The policies are available through manufacturers and third parties. How much consumers spend on these policies varies. However, monthly premiums typically fall between $1,000 and $4,000.
Factors that determine the amount are the deductible, the provider, vehicle make/model, and more. But having a plan can be worthwhile, especially if multiple high-dollar repairs are needed around the same time. You’ll only be charged your deductible when services are required, and the warranty company will handle the rest of the bill.
Start Saving Immediately
You have information readily available at your fingertips these days. As such, all you have to do is pull out your smartphone, tablet, or laptop and do some online research to see how much particular auto repairs cost. Then, those figures will let you know what you need to save for rainy days. Catalytic converter repair, for instance, can run anywhere from $900 to $2500.
Just be careful not to dip into the savings for other things. If the money is too easy to access and you use it to buy goods or pay bills, you could come up short when it matters the most.
Take Out a Loan
Obviously, it can be a problem if you don’t have any money in the bank when your car experiences an issue. Thus, if you can’t be without your vehicle for a lengthy period, why not take out a loan to pay for the repairs?
There are many ways to go about the venture. For example, you could always ask a relative for the funds. By going that route, it may be possible to avoid interest rates and late fees. However, if you fail to meet the terms of the obligation, that could strain the relationship. Do you have items to pawn? If that’s the case, you can take them to a local pawn shop, which will, in turn, give you money for your belongings. Then, you’ll pay off the loan in affordable payments.
Additionally, there are third-party franchises that provide payday or title loans. And don’t forget about the tried-and-true financial institutions, banks. You might be able to qualify for the money you need through one of them.
Look Around for Affordable, Reliable Mechanics
It’s a good idea to look around for reliable mechanics even before your car needs one. Ask around in your neighborhood for trusted auto shops. You can also do online research on the best mechanics and auto shops near where you live.
Doing all these will allow you to find a professional to do the work at a price you can afford. It is also a good idea to ask companies if they offer discounts. Deals are often available for:
- Senior citizens
- Active military members
- Veterans
- Teachers
- Emergency responders
How about coupons? There are still businesses, including mechanic shops, that print coupons to help their customers save. People can sometimes find them in newspapers, phone books, and magazines. Digital coupons might be available online as well. You could receive them via email or through a business’s website. So, keep your eyes peeled, and plenty of savings could be headed your way.
Do-It-Yourself Auto Repairs
There are many different ways to save a buck, but if you’re a hands-on type of person that doesn’t mind getting dirty, have you considered do-it-yourself auto repairs? On average, Americans spend approximately $425 each year per car on repairs, but you might be able to cut that down. You’ll only have to buy parts by doing your own repairs, and there won’t be any labor costs.
What’s great is that there are plenty of online resources you can use as guides for DIY auto repair. If you don’t have the tools for DIY auto repair, you can also opt for auto repair shops where you can rent tools such as car lifts. These may turn out to be more affordable than going to a mechanic.
Some Final Thoughts
It can be quite costly to fix a car when it breaks down. That’s why as a vehicle owner, you need to do what you can to cut costs and make them more manageable. That’s where this Financial Advisor Auto Repair Guide comes in handy. Use the ideas found here to keep car repair money on hand.
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