How to Pay for Repairs Without Going Into Debt
Car repairs can feel like a major financial setback, but with the right planning, you can cover the costs without going into debt. Here’s how to manage car repairs when they come unexpectedly.
How to Prepare for Unexpected Car Expenses:
- Start Saving: Aim to save $25-$50 per paycheck in a dedicated car repair fund. Even small amounts can add up over time.
- Set a Goal: Try to save $500 to $1,000 to cover most emergency repairs. This will help you avoid financial stress when the unexpected happens.
What to Do When You Need Help Paying for Repairs:
- Consider a Personal Loan: If you don’t have enough saved, GMFCU offers personal loans with flexible terms to help you cover large repair bills.
- Payment Plans: Many repair shops offer payment plans. Don’t hesitate to ask about splitting the bill into manageable payments.
At GMFCU, we’re here to help you handle car repairs without breaking the bank. Let us assist you in finding a solution that fits your budget.
