3 Ways to Fund an Emergency Car AC Repair, when you’re broke!
It’s hot outside, and the mercury is going to keep climbing as the summer goes on. Being able to stay inside and enjoy the cool comfort of an air conditioner in your vehicle is one of the greatest blessings of modern life. It can also be a literal lifesaver for babies, the medically fragile and the elderly, who can’t take the heat as well as most people can.
But now your AC has broken down. You need an emergency repair, and fast. You call the repairman and get an estimate of several hundred dollars. Unfortunately, you’re all out of money until payday. What do you do?
This isn’t a hypothetical question. Lots of people have their ACs go out every day, especially in July and August when the units are already working overtime. A fan breaks, a belt snaps or the compressor burns out – it could be any number of things, but when it happens you have to either figure out how to come up with the money to fix it, or burn up in the heat. If you are in this situation and are dead broke, don’t panic. You do have some options, each of which has its own pros and cons.
If you have a card with a high enough limit, this might be a good option for you. Whipping out the plastic will quickly get your AC humming again.
Pros – This is the method that will get your AC working again in the shortest amount of time. You can hand the repairman the card, he will run it through the machine and then get to work. A short time later your unit will be fixed.
Cons – Well, first the obvious: you have to have a credit card. You also need to have a limit high enough to charge several hundred dollars at once. Many people don’t, and this may or may not be the case for you. Read on if this option won’t help you.
Option Two: Call Mom and Dad
Or you can call your grandparents, or your Aunt Becky, or your Uncle Bobby, or your best friend. A personal loan from a family member or friend is the option many people first turn to when they need quick cash for an emergency like this.
Pros – Mom will rarely turn you down, particularly in an emergency. The same is true for other family members and close friends.
Cons- Do you really want to be in debt to your family? These kinds of things have a way of becoming ugly. Plus, your parents may not have it to spare, especially if they are older. It may also take you a few days to get the money. In the meantime you’ll have to continue to deal with the heat.
If you’ll have the money come payday anyhow, why not take out a online payday loan? It will get your AC working again right now and keep you from burning up until the check comes in.
Pros – It’s simple, fast and easy to get a payday loan. You’ll get the money quickly, usually on the same day, and can get the repairman over to get started. It will also keep you from borrowing money from you family.
Cons – You will have to pay more in interest and fees than you would if you took out a loan from the Bank or Mom and Dad.
These are just a few options for financing an emergency car AC repair. Can you think of anymore? If so, please post them in the comments. And please feel free to discuss these options, as well!