Owning a car can be expensive, especially when it comes to repairs. Receiving a bill for hundreds or thousands of dollars is not unusual. If you do not have an emergency fund, it can be difficult to get back on the road. When you have bad credit, getting a loan to pay the repair bill may be close to impossible. If bad credit repair loans are your predicament, there are several options you can choose from that do not require an up-front deposit.

Personal Installment Loan

The average bill for repairing a car is $500. By the time labor is factored in, you could be looking at four figures. A personal installment loan is a great solution when you need a large sum of money. You can borrow from $500 to $35,000 and make monthly payments for six months to six years. The majority of personal loans do not require that you provide collateral, and you can get your money in one day. If you have had no luck with mainstream lenders, you can try online solutions like DR Credit.

Credit Card
If the repair bill for your vehicle is not large, you can consider using a credit card to pay for it. This is the right approach when you need to borrow money for just a few weeks. You can also take advantage of the grace period, which allows you one billing cycle to pay the balance before the interest charges kick in. It should be noted that credit cards should not be used for financing over the long term because of their high rates of interest. A typical sub-prime card can carry a rate of 25 percent or more, although this is considerably lower than the interest rates for a cash advance or other short-term loan. Those APRs can be well over 100 percent.

Buy a New Car
In some cases, you are better off in the long run by replacing your current vehicle rather than committing to costly repairs. This decision will depend on the size of the repair bill and the current state of your finances. It is generally not a good idea to keep putting money into a car that is old and keeps breaking down. You can try to qualify for bad-credit auto financing and look around for a car that is in better shape and a newer model year from the one you have now. It may make more sense to just upgrade your car than to keep making repairs on it. Do not buy another car if you still owe money on your current one. While many dealers will take a older car that might still have some trade-in value, most will not accept a vehicle that requires expensive repairs. Your insurance rates will likely increase if you buy a newer car. You should also consider all of your other expenses before taking on a new vehicle.

Being hit with an unexpected car repair bill can be shocking. You may not know how you will pay for it and be in a panic because you are unable to borrow money. DR Credit is always available to help you explore your options and choose a plan that is right for your current needs. You can apply online and get a fast response.