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Have a Major Car Repair but Not Much Money? Here’s How to Make it Work

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An unexpected car repair can take a big bite out of anyone’s budget. It’s even worse if your budget is struggling or non-existent. When your car breaks down and requires a major costly repair to get it running again, here are few tips for raising the needed cash.

Home Equity Credit Line

Homeowners can sometimes get approved for a credit line on their home’s available credit. While many factors play a role in the financial institutions’ decision about approving the credit line, it usually has a lower interest rate than a conventional loan. Ask for details at the bank where you do your financial business or at a lender with an attractive interest rate or promotional offer.

Personal Loan

If your car has equity, you might be eligible to take out a car title loan, using your vehicle as collateral. This can be a convenient loan option that does not require a significant application process or extra fees. The interest rate may vary, so ask your lender of choice about the current rate that would apply to your loan, if approved, as well as the repayment terms and any financial penalties for late payments.

Make a Sale

When people need money fast, they often look for something to sell that they no longer need or value. It might be old jewelry that is no longer worn or toys that the kids have outgrown. A yard sale or an online ad can often help sell everyday things like clothes, dishes, exercise equipment, and hobby-type items like books or a musical instrument. Unused car parts or old books might also attract buyers. Often, sales can be made in a few days, providing the necessary car repair cash.

Extra Income

Most people have at least one skill they can use to earn extra money in addition to their regular full-time job. You might be able to mow lawns, rake leaves, or shovel snow for quick cash. You might also get a temporary job that is seasonal, like farm work or holiday help, to earn additional income. House sitting, dog walking, or running errands can often rack up the needed repair funds fairly quickly.

If your car needs a major fix that will cost more than you currently have in your wallet or the bank, try one or more of the above options to bring in some extra money. You might be surprised to earn what you need, or more, within a couple of days.


Lizzie Weakley is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and walks in the park with her three-year-old husky, Snowball.


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