Financial Tips for When Your Car Conks Out

Friday, May 31, 2019, 6:00 AM | Leave Comment

When your car or van leaves you sitting, how do you get around without paying high taxi rates or for Uber rides to and from work?

There are ways to save money over the long-term when you have breakdowns.

We give you four financial options to protect your paycheck in this post. 

Financial Tips for When Your Car Conks Out

  1. Get a temporary ride from the insurance company

    When you need to get around town, a rental vehicle might be the best option when your car is in the shop. Some insurance policies cover a loaner vehicle. Check with your agent to see if your coverage includes a rental car for breakdowns. If your car was damaged due to an accident, then chances are that the offender’s insurance will cover either a loaner vehicle or transportation costs while you wait to get your new car.

  2. Send your vehicle to a reliable mechanic

    To get to the heart of the problem, it is a good idea to consult a reputable car repair shop. These professionals can save you money in the long run by doing the job right the first time. You do not have to worry about a temporary fix that leaves you sitting along the side of the road a few days later with an honest, local auto solutions team.

  3. Talk to the dealer or scrap the car

    If the mechanic tells you there is no hope for your car or truck, then it is time to get rid of it. Do you wonder what is the best way to sell my junk car? When the cost to repair the vehicle is more than it is worth, it is important to look for a new ride. Offset some of the cost by scraping your vehicle and getting money for the metal weight. Dealers often have trade-in deals and will give you a discount for your old car or truck.

  4. Quit fixing the old vehicle and use a new car to leverage insurance rates

    When your ride is doing nothing but nickel and diming you to death, then it is time to find a new one. By choosing a newer vehicle, you can get lower insurance rates and save some of the money you spend on monthly car payments. Why keep sinking money into a car that is constantly letting you down?

    Finding replacement money when your car breaks down is not easy. We understand how difficult it is to bum a lift.

We hope these four tips can help you put your money in the right places to make the bad times a little better and easier to afford. Putting a little money each week into an emergency fund can help you prepare for the day your car dies.

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