Auto Repair Financing

When you need auto repair financing to get your car back on the road, consider requesting a loan from the direct lenders working with Personal Money Network. These loans are one option that you can consider when examining various lending products that are available to borrowers with poor credit histories.

What can you use an auto repair loan for?

Maybe your transmission went out, or you need a brake job. Do you need new tires for your car so that you can stay on the road in bad weather? Timing belts and chains cost a lot of money to replace and they have to be done every so often. Emissions repairs can sometimes be quite expensive and there is also the dreaded moment when you see that your check engine light has come on. These situations can happen to anyone that owns a car and they are just some of the common reasons that borrowers seek to get auto repair financing online.

What if I have bad credit?

It is difficult to apply for a loan with bad credit, but it is not impossible! Many of the lenders working with Personal Money Network extend loans to bad credit borrowers because they work in smaller dollar amounts that involve less risk for the lenders. These loans are usually $1,000 or less. It is important to choose carefully when requesting a loan for bad credit. You want to make sure that you do not request an amount that you cannot easily repay within the term of your agreement. This will increase your chances for approval. Personal Money Network takes that process one step further by submitting your loan request to multiple borrowers within the network of lenders that work with us. This increases your chances of receiving a near instant decision over requesting a loan from one lender at a time.

What about a no credit check or guaranteed approval?

Companies will sometimes use phrases like “no credit check” or “guaranteed approval” to convince borrowers to request loans with them instead of using another company. These phrases imply that you will receive a loan no matter what the circumstances are, but this is not the case. It’s dishonest to make claims of a “guaranteed approval.” The reason is that no lender guarantees approval without reviewing the request and putting it through an approval process. The same is true for the phrase “no credit check” loans. What they are actually referring to is known as a “soft” credit check. This is a review of your current income and monthly expenses to determine your ability to repay the loan amount within the term of your agreement. Many of the lenders working with Personal Money Network are capable of performing these soft credit checks that may not impact your FICO score.

How do I apply for auto repair financing?

Requesting auto repair financing is easy with Personal Money Network’s innovative online form. The form is easy to fill out and takes just a few minutes to complete. Be sure that the information you provide is accurate and that everything is spelled correctly and that you have filled in as many boxes as possible. Failure to do this may slow down the approval process because it will require a customer service representative get in touch with you to clarify any details that many be incomplete or incorrect. For faster results, be sure to submit your request during regular banking hours on a regular business day. Bank holidays affect the timing for your loan decision and may slow down your process. Should you receive an approval, you’ll be sent a link to a new page where you can review your contract and the terms of your loan agreement. Make sure you read everything carefully so that you aren’t surprised when your loan comes due. Your interest rate and payment schedule will be included with your documentation for your loan agreement. Reviewing these will allow you to ask your lender any questions that you may have directly prior to signing the contract. If you provided the number of a checking account in good standing, your lender may be able to provide a direct deposit as soon as the next business day.

Can I use a personal loan for a car repair?

One potential advantage of personal loans is that often the lender does not require that you tell them the reason you are requesting the funds. You can direct the money where you think it needs to go. So, if your car broke down, you can use the money to pay for the repair and help get your vehicle back on the road. If you need money for a car repair and a few other things, like maybe your dishwasher needs to be looked at or maybe you just need a little extra cash to get the bills paid on time before your next paycheck, you can use the money for these things also. So, don’t let the reason you need the money prevent you from considering a personal loan. Personal loans are one option that borrowers in many different kinds of financial situations can consider.

Why should I apply online?

Requesting a loan online is faster than going through the process with a traditional bank. There is also often nothing to fax. With online loans, there is no need to rush out to a storefront lender on their schedule. You don’t have to leave work. You can simply request a loan using the device you’re using to view this page right now. Personal Money Network’s innovative online form works with any smartphone, tablet or computer. There’s also no need to go out in bad weather or try to find someone to give you a ride when your car is broken down. You can do everything from the convenience of your home or office.

Is it secure?

In today’s world, identity theft is a common problem. If you haven’t experienced it yourself, it has probably happened to someone you know. It’s important to keep a tight lid on your financial details. This is why many borrowers are reluctant to use store front lenders to request loans, because people can look over their shoulders while they are filling out the form and have access to their financial details. A similar version of these events can also take place online. Borrowers should be careful with where they give out their financial information. Personal Money Network values your privacy. This is why we use industry standard best practices for internet security. You can feel confident that your financial details are protected and that only the people who need to look at them will see them.