3 Car Repair Financing for Bad Credit Options

3 Car Repair Financing for Bad Credit Options
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Eric Bank
By: Eric Bank
Posted: November 24, 2015
BadCredit.org's popular "How-To" series is for those who seek to improve, rebuild or better understand their subprime credit rating.

The American economy is one that drives; in fact, up to 90% of Americans drive to work. When you need a car to get to your job, it has to remain in good working order or your livelihood is threatened. It’s ironic that frequently those with lowest credit scores are the most dependent on a weekly paycheck and most vulnerable to financial difficulties caused by an inoperative vehicle.

We don’t believe consumers with poor credit should suffer the double-whammy of unaffordable repairs and lost wages. Here we offer solid information about three alternative ways to borrow the money you need to get back on the road.

1. Personal Loans

Our expert analysts review and rate services that obtain loans for consumers with bad credit. We look at a number of features, including how much you’ll pay in interest, the likelihood that you will be approved, and the reputation of the service. We search for services that look for ways to say “yes!”, unlike most banks and lenders who see a bad credit score and immediately say “no!”

Our top three picks for bad credit personal loan services are:

+See More Personal Loans for Bad Credit

All three of these services work with folks who have bad credit or no credit. They provide quick online applications and get you your money right away, usually within 24 hours. The minimum size loan varies from $100 to $2,000, which can come in handy if you need a new transmission or engine.

2. Unsecured Credit Cards

Whether your credit score is fair or poor or you have only a limited credit history, we can hook you up with the top credit cards that offer unsecured credit.

These cards are the most desirable because they don’t require a security deposit. You pay the monthly balance without having to maintain a preset balance in your checking account.

Here is a list of our top three picks:

  • Checking account required
  • Easy online application
  • Unlike some other issuers, good credit is not required
  • All credit types welcome to apply
  • Reports to the major Consumer Reporting Agencies
  • Application response in 30 seconds
  • We may approve those currently building credit history
  • Click here for official site, terms, and details.
★★★★★

4.7

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes See issuer website Yes 9.5/10
  • Checking account required
  • Fast and easy application process; response provided in seconds
  • A genuine VISA card accepted by merchants nationwide across the USA and online
  • Manageable monthly payments
  • If approved, simply pay a processing fee to open your account and access your available credit
  • Reports monthly to all three major credit bureaus
  • Click here for official site, terms, and details.
★★★★★

4.7

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 Minutes See terms Yes 8.5/10
  • Checking account required
  • A manageable credit limit can help you stay in control
  • This is a credit card - not a debit or prepaid card
  • Track your progress. Your quarterly FICO Score is provided for free on your monthly billing statement.
  • Make your payments on time each month, and keep your balance low relative to the credit limit, for positive marks on your credit report.
  • Click here for official site, terms, and details.
★★★★★

4.6

Overall Rating

Application Length Interest Rate Reports Monthly Reputation Score
9 minutes See issuer website Yes 9.5/10

+See More Credit Cards for Bad Credit

The best of these offer cash-back rewards, provide online alerts, and report your payments to the credit bureaus. In just 10 minutes, you can have a new credit card that will be recognized by your car repair shop, no questions asked.

3. Auto Lenders

What do you do if your car is damaged beyond repair and you need an auto loan to get a replacement vehicle? We recommend lenders who specialize in auto loans for people with bad credit. As with all our recommendations, we rate auto lenders based on their terms, reputation, and other important factors.

Our recommended auto lenders specialize in obtaining hard-to-get subprime auto loans. The best ones can get you an auto loan even if you have bad credit, no credit, repossessions, or bankruptcies. You can get pre-qualified in as little as 30 seconds.

Here are the top three recommendations:

  • Network of dealer partners has closed $1 billion in bad credit auto loans
  • Specializes in bad credit, no credit, bankruptcy and repossession
  • In business since 1999
  • Easy, 30-second pre-qualification form
  • Bad credit applicants must have $1500/month income to qualify
  • Click here for application, terms, and details.
★★★★★

4.9

Overall Rating

Interest Rate In Business Since Application Length Reputation Score
Varies 1999 3 minutes 9.5/10
  • Free, no-obligation application
  • Specializes in auto loans for bankruptcy, bad credit, first-time buyer, and subprime
  • Affordable payments and no application fees
  • Same-day approval available
  • Connects 1000's of car buyers a day with auto financing
  • Click here for application, terms, and details.
★★★★★

4.5

Overall Rating

Interest Rate In Business Since Application Length Reputation Score
Varies 1994 3 minutes 9.0/10
★★★★

4.0

Overall Rating

Interest Rate In Business Since Application Length Reputation Score
Varies 2003 2 minutes 7.5/10

We carefully research all of our recommended lending services and give them a precise rating based upon our impartial analysis. If your car is causing you problems, we hope one of these options can be your solution.

Photo credits: blog.capterra.com