When you’re not looking, that pesky car payment threatens to rear its ugly head and attack your budget—again. By the time most drivers pay off a car note, the terms of the loan have exceeded the warranty by quite a few months – or even years.
However, this doesn’t mean you have to get back on that financial treadmill the first time “Old Faithful” lets you down. In addition to considering a paycheck advance, here are a few tips to help you avoid a sneak attack on your finances the next time you have an unexpected breakdown:
Walk, Run, Bike, or Rollerblade
Self-powered transportation doesn’t cost a thing! In the meantime, tuck away your gas money for that expensive car repair. As a bonus, this plan is good for your health and the environment.
Bum a Ride
What are friends for? When you need to get somewhere, call up a friend or family member and ask for a ride. It’s more fun to shop with a friend anyway. Although people used to hitchhike across the country without a second thought, stay home instead of engaging in this unsafe practice.
Car Pool
If you live near a co-worker, offer to split the gas money in exchange for a ride to work. In fact, many people make this a frugal and eco-friendly habit even when their car is purring like a kitten.
Call a Cab
If you really have to get somewhere, call a local cab or taxi service for a ride. This is an expensive option, so save it for when you’re in a real pinch.
Barter Services
Have a valuable skill? Trade on it by offering to provide your services in exchange for rides or car repairs. In the old days, this is how everything got done. Think you don’t have anything to offer? Sure you do – here are a few things anyone can do:
- Yard Work
- House Cleaning
- Run errands
- Dog walking
- Car Washes
Sell Something
If you have a ton of stuff that you’re not using, sell it to get the cash for your car repair. Try these places when you really need the cash:
- Ebay
- Craig’s List
- Yard Sales
- Flea Markets
- Pawn Shops
- Consignment Stores
- Jewelry Stores
Work More
When you need extra money, the first thing that should come to mind is working more. Ask for overtime, get a part-time job, or do odd jobs around your neighborhood. Before you know it, you’ll have enough to pay your repair shop.
Hit the Lottery
If you feel lucky, pick up a ticket – but don’t unload your entire bankroll at the lottery counter. With a cool million sitting in your bank account, a car repair will be the last thing you’re worried about.
Fix It Yourself
Invest in a car-repair manual and try to do the repair yourself. By avoiding the labor costs, you can save about half on a standard repair bill. If you know exactly what’s wrong, this can be a good plan. Troubleshooting, on the other hand, can be tricky for the novice mechanic. Try your luck on YouTube – this site is filled with repair videos, and you might even find a video that shows you exactly how to fix your problem.
Hit the Junkyard
When you don’t even have enough money to buy the parts, hit your local junkyard. If you can find a car just like yours, you can remove the part you need and only pay a fraction of the cost of a new part. Most junkyards will even guarantee the part and give refunds if the part doesn’t work.
Look for a Mechanic Working on the Side
Many mechanics work on the side to make extra money. If you don’t know anyone, ask your friends, look for ads on local bulletin boards, or check online. You might even get a call if you post your own ad looking for a qualified shade tree mechanic.
Call In Your Favors
If you’re the kind of person who’s always willing to lend a helping hand to your friends, call in your favors. If you’ve lent a few dollars here and there, that’s even better. Call in your favors for rides, help fixing your car, or a little cash to buy some parts or cover the repair bill.
Charge It
Although charging your car repair bills is almost as bad as taking on a new car payment, it shouldn’t last nearly as long. If you have no other option to get to work and keep that money rolling in, go ahead and charge the repair bill – just try to pay it off as fast as possible.
CONCLUSION:
Now that you’re safe (for now), it’s time to start preparing for the next ambush. Cut out unnecessary expenses or get a part time job to build your savings. With more cash in hand, you can be prepared for the next repair or trade in your old hooptie for a brand-new ride without a huge care payment.