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03 Sep 2019   /   0 comments

Get Back on the Road with Car Repair Loans

title loan for car repairThere’s nothing as awful as the feeling you get when you head out to go to work and your car won’t start. In these situations, it’s great to use a title loan for car repair.

Particularly if you have only one vehicle for your family, a breakdown or an accident that puts your car out of commission can represent a major hardship. Why not get a title loan for car repair?!

In doing so, you’ll get the money that you absolutely need quick and simple! A title loan can do wonders in those desperate times of need and personal emergencies!

A Title Loan for Car Repair

Simply leaving the car inoperable isn’t usually an option – after all, without your car, you may not be able to get to work in order to make the money to fix it, an ironic circle that many of us know too well. But if your budget or savings account can’t cover the repair costs, there are a few types of car repair loans that can help. In addition to considering personal loans from friends and family, many auto title loan companies offer solutions that could be the perfect way to get your car fixed and back on the road.

What Is a Car Repair Loan?

What Is a Car Repair Loan?A car repair loan, one of our many loan types, is a special type of loan that some title loan for car repair companies offers. These loans are designed specifically to cover the cost of repairs to a vehicle. As such, they typically come with a few restrictions, which make them different from a standard car title loan. Those may be:

  • The ability to borrow only the amount necessary to cover the cost of repairs.
  • The submission of an itemized bill or a repair quote from a certified mechanic. This means that you could not borrow a car repair loan and fix your car yourself, for example.
  • The title loan for car repair may be paid directly to the repair shop, rather than to you as a standard auto title loan.
  • The lender may have to go to the repair shop, or to where the car is stored if broken down, and assess the value of the car in person.

Read more about loans for maintenance expenses from

Additional Requirements for Auto Repair Loans

Most of the other requirements for auto repair loans are the same as how a car title loan works. This means that a borrower will have to have the vehicle’s clear title in their name, and a valid driver’s license. In some cases, the type of auto insurance the borrower carries, their income history, and the age of the car can also make a difference.

Pros and Cons of Auto Repair Loans

Pros and Cons of Auto Repair LoansWhether you are trying to decide whether you should get a title loan for car repair, do it very quickly because your vehicle just broke down, or you are trying to come up with a backup plan because you don’t want to experience the stress of scrambling for cash if a breakdown or accident happens, it’s always much easier when you can easily compare the pros and cons of a specific option. Auto repair loans from car title lenders do have may pros, and a few cons, that every smart borrower should consider. Pros include:

  • Borrowing a title loan for car repair from title lenders is very fast.

Often, the application and approval process can be completed within a single day, which is great news if you need your vehicle ASAP for work, school, or essential errands. With one last trip to a trusted car title loan lender, you could have a car repair loan ready to take back to the repair shop and get your car fixed in no time.

  • Just like a standard auto title loan, these car repair loans don’t require the borrower to have a good credit history.

In fact, many car title lenders don’t do a credit check or score inquiry, which is good news, as a single inquiry can be counted against a lower credit score.

  • You get to keep your car during the entire time you have a car repair loan from a title lender.

Once your car has been fixed, you can start using it again right away. Simply pay off the car repair loan according to the terms of the loan, and you will keep your vehicle.

  • These type of loan for car repair is based on the value of the vehicle and the quoted amount from the repair shop.

This means that you can actually borrow as much as you need in order to get your vehicle repaired, and not worry about how you’ll come up with the rest of the cost.

Some of the cons of car repair loans may include:

  • Car repair loans from title lenders typically carry higher interest rates than traditional loans. If you aren’t prepared for the number, it may seem like an exorbitant amount. Keep in mind that for most title lenders, there is no penalty for paying off your loan early. This is true, too, while avoiding some of the interest!
  • If a borrower is unable to pay their loan amount by the deadline, and the title company does not have a rollover or extension plan that can be utilized, they may find that their vehicle is repossessed. However, most title lenders do not want to repossess a vehicle. They are in the loan businesses, not the used car sales business. This action makes their work more difficult. This means that for the most part, you’ll find that title lender who offers car repair loans will want to work with you to ensure that you can pay back your loan.

Using a Car Title Loan for Auto Repairs

Using a Car Title Loan for Auto RepairsIf a car repair loan is not an option in your area, you may find that some auto title lenders will offer standard car title loan specifically for repairs. These loans will probably require an inspection of the vehicle in person. Why? This is to assess its value. But, some title lenders may simply use Kelley Blue Book or other online services to determine value. Using a standard car title loan for car repair instead of a car repair loan will likely only be a little bit different. The key things to keep in mind include:

  • An auto title loan will likely be paid directly to the vehicle owner, rather than to the car repair shop.
  • Is the title lender is loaning based on the car’s standard value after repairs? The borrower may be able to borrow more than the repair quote.

title loan for car repairOther than these two differences, using a car title loan for auto repairs will probably be very similar to using a car repair loan from a title lender. The requirements, benefits, and possible negative considerations are the same. These types of loans are often one of the few options available to those who don’t have perfect credit, and who need money fast to cover repairs right away.

Check Your State’s Laws Regarding Car Title Loans

It’s important to check your state’s laws regarding title loans. Some states, such as California, limit the number of fees that a title lender can charge on a loan. Other states limit the interest rate or require that title loans be a minimum amount to be classified. Knowing the basic laws of your state can help you choose the best title lender. It will also help you decide who will either offer you a great auto title loan for your vehicle. Or, a car repair loan to cover the cost of getting your car in working order again!

Read more about title loans from

Car Repair Loan or Auto Title Loan?

Have both a car repair loan and an auto title loan option? Is the title lender you have chosen is extending either to help you cover the cost of vehicle repairs? Then which you choose depends largely on your circumstances. Consumers should probably choose a car repair loan if:

  • You’ll only need to cover the cost of the repairs to your vehicle. Or, the deductible on repairs before your auto insurance kicks in.

  • You don’t want to have a larger debt to pay back after your car is fixed.

  • The title lender is only willing to loan what the car is valued at as it stands (damaged). Lenders don’t consider the car’s undamaged or repaired state.

The biggest reason why a borrower should choose a car repair loan? To keep their loan as small as possible. When you borrow less money, you’ll have less to pay back overall.

Covering the Costs of Other Damages

A standard auto title loan may be a better choice for your repairs. If the lender is willing to loan based on the car’s repaired value? You may find that the higher amount can help you cover bills from missed work. Or, until you can get your car back in working order!


TFC Title Loans

Getting a title loan in a time of personal emergency is tough. When you lose cash it’s a grueling and stressful experience! Not true with TFC Title Loans! We have well over 25+ years in the industry! TFC also has the ability to lend a helping hand to customers of all credit levels! We’re the best option when you need those emergency funds! With our quick and easy online title loans application process, you’ll receive the funds you need in absolutely no time!

Frequently Asked Questions
What is a car repair loan?

A car repair loan are loans specifically designed to cover the costs of repairs to a vehicle.

Do car repair loans come with restrictions?

Yes. These restrictions might include the ability to borrow only the amount needed to cover repair costs, title repayments sent direct to the repair shop and/or the lender might need to go directly to the repair shop to assess the value of the car.

What are the requirements to get a car repair loan?

Most requirements are the same as how a car title loan works. This means the borrower will need to have a clear vehicle title in their name along with a valid driver's license.

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