- How to pay for car repairs
- What are the different ways to finance car repairs?
- Get financial support to get back on the road
Whether you’ve been in a car accident, require a car service and registration costs or are facing unforeseen mechanical problems, a car repair loan from Red Tree Finance can assist you in overcoming a challenging situation in a hurry.
How to pay for car repairs
The cost of running a vehicle is significant and with the cost of fuel on the rise, car ownership can consume a large portion of our budget.
In the event of unexpected repairs, we can find ourselves in a tricky situation without the cash needed to carry out the repairs and get back on the road.
What are the different ways to finance car repairs?
There are a few options to help get you to access the funds you need to have your car repaired.
1. Secured personal loan
With Red Tree this loan type requires an asset as a guarantee for the loan, meaning you can borrow up to $5000. A secured personal loan can be secured with an asset such as your car or a boat, though it is worth noting here that your car will need to be driveable and registered to form security for a loan. If your vehicle meets these criteria, it’s quick and easy to apply.
A secured personal loan can help to cover the cost of vehicle repairs or maintenance, including car servicing, body repairs, air conditioning maintenance, brake maintenance, vehicle computers, steering or gearbox issues, or additional car accessories (mirrors, roof racks).
2. Organisations that help with car repairs
If you are in financial hardship, consider exploring no-interest loan schemes (NILS). Using this scheme, you may be able to borrow up to $2000 to fund essential repair work on your vehicle, pay for education fees and equipment and cover the costs of goods and services to support wellbeing.
There are no credit checks for this type of loan. The organisation will look at your income and expenses, the total loan amount, and your repayment timeframe (up to 24 months), and work with you to see if the loan is affordable.
Get financial support to get back on the road
If you need money urgently for a car service, upgrades to your car or repairs, we may be able to help. Our dedicated team will take the time to understand your individual situation and provide you with the most appropriate options to get you back on track.
For a car repair loan apply now using our quick and easy, 100% online form or contact our friendly customer service team to discuss the best option for you today.
Apply for a cash loan with Red Tree Finance
The request for your employment details by loan companies serves a meaningful purpose. Providing accurate employment information increases your chances of loan approval. If you’re looking for a loan, Red Tree Finance provides instant loans of $2000, $3000 all the way up to $5000. Whether you need a loan for bills, rental bond or just a weekend loan, we have you covered. Apply for a loan now or contact our friendly staff for more information.
FAQs
In Australia, car owners don’t need to be licensed mechanics to carry out repairs on their vehicles – so long as the repairs keep the car legal and roadworthy.
The average monthly cost of servicing a medium-sized car, including maintenance and repairs, is about $35, or $420 per year. This figure can be much higher when you factor in unforeseen repairs like flat tyres or broken windscreens. This doesn’t include the significant ongoing expenses of car ownership such as car registration, insurance and fuel.
The engine is the part of the vehicle that converts fuel to power so your car can move. As such, it is the most expensive car part to replace and repair, especially if there has been significant damage. Often damage to the engine will mean the car will likely be ‘written off’ as the cost of repairs can exceed the value of the car.
The information provided in this blog is of a general nature and is provided without considering your specific objectives, financial situation, or needs. It is intended for informational purposes only and should not be relied upon as financial, investment, or other professional advice.
Before making any financial decisions or taking action based on the information presented, you are strongly encouraged to assess its appropriateness in light of your individual circumstances. Red Tree Finance does not intend to provide personalised financial advice, and you should seek independent financial, legal, tax, and other relevant advice tailored to your unique situation.
People also read:
Ready to apply for a loan?
Apply to borrow up to $5,000 fast. Complete the online application in less than 5 minutes.
Apply Now