Car trouble can happen when you least expect it. While some vehicle models are more reliable than others, it is inevitable that every car owner will need to invest in repairs at some point.
If you aren’t sure how to pay for a blown engine and do not have enough in your savings to spare, there are financial resources you can take advantage of.
Some of the most common ways a vehicle owner will pay for a blown engine are:
- Personal Loans
- Title Loans
- Credit Card Advances
While each loan option has a time and place that they can be advantageous for a financial situation, not all of them may be the right option for you. Keep reading to figure out which is the right way to receive the funds you need to pay for a blown engine!
How Can a Personal Loan Pay for a Blown Engine?
Personal loans can offer quality interest rates if your credit score is reasonably high. With a personal loan, the approval process is likely unsecured, meaning that your credit history must be up to par to receive both approval and a decent loan amount. Most personal loans do not have a loan limit unless they are capped by state law. You could receive a high loan amount if your credit score is high enough.
If your credit history is up to par, you can apply for a personal loan at:
- Banks
- Credit Unions
- Online Lenders
While personal loans can be a fast way to get cash if your credit history is solid, it can be less useful if you do not fit the right criteria. Luckily, there are other loan options you may be eligible for that have less strict requirements! Title loans have sone of the most flexible requirements on the market and may be easier to apply for than an unsecured personal loan.1
How Can Credit Card Advances Help Pay for a Blown Engine?
Another way to pay for a blown engine is through a credit card advance. If you already have a credit card provider, you may be able to turn your available credit line into cash. To do so, you will need to access an ATM that your provider is affiliated with, or you can use the online portal with your account to apply for that cash.
Keep in mind that your cash advance through your credit card will have the same interest rate on it that a regular purchase with your card would! While credit card cash advances are a quick way to get the funds you need to pay for a blown engine, they are often tough to repay. They also might not be enough to cover the repairs needed for your vehicle, as you are often only able to access your available credit line.
Is a Title Loan the Right Option to Pay for a Blown Engine?
If you are ineligible for a personal loan and looking for a loan option with competitive interest rates, a title loan can be your best bet! A title loan is a secured loan that you can acquire by using your vehicle’s title as collateral. The use of collateral helps secure the approval process and minimizes the risk to lend to a borrower without a strong credit history.
This means that:
- Your Income and Your Vehicle’s Title Matter the Most in the Approval Process
- Your Credit Score Will Not Be as Big of an Issue
With this flexible approval process, it’s easy to see why a title loan can be an easier option!1 Loan options like ChoiceCash Title Loans can help qualified borrowers get their cash in as little as one business day as well.1 If you need fast cash to pay for a blown engine, why wait to see what your vehicle could qualify for?
What are Other Ways I Can Pay for a Blown Engine?
If you need help paying for a blown engine, there are other avenues to explore besides loans. Some of the options that could be available to you are:
- Asking Friends or Family
- Applying for a Second Job, like Dog Walking
- Selling Unwanted Household Items or Clothes
If you have extra free time, consider using your weekends to come up with some extra cash! This can be tough if you do not have another vehicle to get you to work, however. If these options are not ideal or enough to pay for a blown engine, don’t sweat it. A title loan could be the perfect financial resource that you’ve been looking for!
What are the Requirements for a Title Loan?
The requirements for a title loan can vary by state, but they are often much simpler than you think. With a title loan, a borrower will need to:
- Be of Age to Apply for a Loan in their State
- Have a Steady Income or Alternative Income
- Have a Qualifying Vehicle With a Title in Their Name
With just a few documents, a vehicle title, and the right income, it’s easier than you think to qualify for the cash you need!1 If you’re looking to pay for a blown engine, a title loan could help you find the funds you need quickly.
Where Can I Apply for a Title Loan Online?
Ready to see if your vehicle qualifies for a title loan? Get the cash you need to pay for a blown engine in as little as 24 hours when you qualify through ChoiceCash Title Loans!1
Get started on your loan inquiry today when you go online to the website and fill out a short form. Or give a loan agent a call at 855-422-7402 to see if your vehicle and income can qualify for cash!1