Need An Instant Car Repair Loan? We Will Do The Hard Work For You!

Do you need emergency money for car repairs today? Has the unexpected happened? Don’t worry, it happens to the best of us. Don’t face the heavy burden of finding a lender for a car repair loan. Let Monzi do the searching for you. We will search through loan products to find you a lender offering car repair loans. Apply for up to $10,000 quick cash advance today.

Pink car after being fixed through Monzi car repair loans

How To Avoid Car Repair Loans

If possible, most of us would like to avoid auto repair loans by purchasing a reliable first car. With so many options on the market, what should we really be looking for? The big brands promise sleek and modern designs that showcase the most up-to-date technology on the market.

The second-hand market often promises vehicles that are in almost perfect condition. The question is what and who can we really trust? It seems almost impossible to distinguish which vehicle will suit your needs – especially if you are purchasing your first car. So, Monzi has a few inside tips to help you navigate your first car purchase.

Set A Budget

When purchasing your first car make sure you set a budget and try to stick to it. It can be easy to be sucked into the glitz and glam of the flashy red sports car with the high tech interior. A car salesman will do their best to entice you with badges and gadgets.

Therefore, remember the features you know you need without falling for the upsell. It is important to know your budget from the outset. However, it may be necessary to be somewhat flexible (within reason of course).

It is important to remember that purchasing the car is only part of the cost. In addition, you will need to have extra cash for on-road costs. These could include registration, petrol and compulsory third party insurance. Let’s not forget, these costs are ongoing. It is best to make sure the vehicle is financially sustainable before committing to a purchase.

Do Your Research

It is paramount that you do your research before heading to the dealership. In short, at least make sure you have some type of idea before heading to make your purchase. Research is the best way to ensure you walk away feeling completely confident with your decision.

Often, it is handy to know the make and model of the car you are most likely looking to purchase. This will mean you can do some prior research as to the best deal. This will also allow you to look at what the car is going to cost in petrol every week or so. After all, there is nothing worse than driving away unprepared for the extra costs headed your way on a regular basis.

Often the best way to get an accurate representation is to look at the reviews on your specific make and model. Websites such as Cars Guide provide a range of different reviews that are handy when shortlisting all the options.

These reviews are written by members of the public so are often very honest and reliable. It is a good idea to look at comments that discuss whether the features of the car are worth the money.

Don’t Be Afraid To Haggle!

Often times you may be able to lower the price considerably by putting your bargaining skills to use. Don’t be afraid to ask! After all, what have you got to lose?

When a dealer believes they have you on the hook they may be open to negotiating a price to make the sale.

Car dealerships will often have a budget. This is good news for purchasers if you manage to head in at the end of a sales month. In order to get that extra sale, they may be willing to negotiate a price. So, try your luck!

Does New Mean New?

It is also essential to remember that new doesn’t always mean brand new. A new car will always have a build date as well as a compliance plate that shows when it was actually constructed as well as when it cleared customs in Australia. Be aware that there can be a huge difference between these two dates. A car from the previous year should be cheaper than a car from the present year, regardless of it being the same make and model.

It is important to be aware of this and hopefully avoid taking out car repair loans before you need them.

Purchasing A Previously Owned Vehicle

Purchasing a used car comes with a new list of do’s and don’ts. The basics, however, are much the same. It is always important to remember what your budget is. In order to negotiate the best price, it is always a good idea to know what the market value of the vehicle usually is.

Of course, if the car is used this will decrease significantly so make sure you check out what prices other dealers are asking for the same vehicle.

Top Tips For Purchasing A Previously Owned Vehicle

Purchasing a secondhand car can be a great option for many people. After all, you could save a heap of money, and not miss out on anything.

Get the facts

Make sure you ask for a full history of the car before making a purchase. It is best to have a service history in writing.

How many owners has the vehicle had?

Make sure you check how many owners the car has previously had. Lots of different owners and high mileage is usually not a good sign. One owner and low mileage is a good sign!

Has the car been in an accident?

Make sure you ask this question. If the car has been in an accident it may have unexpected mechanical problems in the future. Make sure the car has not been damaged and covered up for the purpose of the sale.

Take the vehicle for a test drive

When purchasing a new car it is always a good idea to take it for a test drive. This is especially necessary when purchasing a used car. Make sure the vehicle is exactly what the seller promised – engine running smoothly and breaks working perfectly.

Have it looked over by a pro

It is also a great idea to have a used car looked over by a professional. It is best not to cut corners in terms of giving a used car the once over. Get a good mechanic to have a look at the current mechanical state of the vehicle and make sure it matches up with what the seller is telling you.

Avoiding The Worst

Navigating the minefield of a car purchase can be difficult for almost everyone. Following some of the handy tips discussed above may prevent future financial pain. We realise not everything in life goes to plan. Yes, the unexpected does happen. Even the best of us usually aren’t prepared.

Car Repair Loans

Here at Monzi, we know you can’t control everything.

After all, your car can go from mint-condition to near written-off in the space of seconds. If something like this happens, there’s a good chance you may not have immediate funds available to cover the cost of repairs. Next, you may be sitting there wondering, can you finance car repairs?

Well, Monzi is here to answer that question – YES!

How Does Monzi Find Car Repair Loans?

Monzi is a lender-finder; run by Aussies, for Aussies.

We specialise in matching everyday Aussies with potential lenders. The best part? Not only is it super simple, but we’re completely free.

How Do I Use Monzi’s Lender-Finder Service?

If you’re looking to find a lender who can help finance your car repairs, consider using Monzi.

Not only is our service free, but we’re super easy to use. In addition, depending on when you apply, you may even get an outcome within minutes.

Interested? Well, here’s how you can apply:

  1. Enter in the loan amount you’re looking to borrow, as well as your ideal repayment terms in the loan slider.
  2. Fill in our simple 100% online submission form.
  3. Our automated system will now scan through hundreds of different loan products to try and match you with a lender.
  4. We’ll let you know the outcome via text and email.
  5. If we’re successful, your new lender will be in touch.
  6. From here on in, you’ll deal with your new lender directly.

Keep in mind, however, being paired with a lender does not grant you automatic approval. Your new lender will conduct their own assessment of your application, and make a decision accordingly.

Have You Had An Unexpected Breakdown?

Even the best of us have those unlucky days. It feels like the bills are piling up and they are all due at once. Then the unexpected happens. The car breaks down and you have no choice but to take it in for repair.

At the best of times, emergency car repairs are never cheap. Maybe the engine has overheated, or the spark plugs need to be replaced or maybe your brakes are failing. Maybe you’ve put off having a service for so long and now you’re really regretting it. The mechanic sees you coming and smiles with glee.

If your bank account has had a serious workout and it doesn’t look like it will survive this fatal blow, why not turn to Monzi. Monzi will try and find you a lender who might suit your circumstance.

With some of Australia’s premium lenders on our side, Monzi may be your new best friend in finding lenders online.

No fuss, no long waiting lines – just car repair short term loans when you need them most.

Car Repair Loans For Bad Credit

Let’s face it – we can’t be good at everything. A poor credit score shouldn’t mean you should face car repair expenses alone.

At Monzi we look with lenders who look deeper.

We can not guarantee our lenders will not conduct a credit check. However, we do know that they will look at more than just that. After all, our network of lenders believes that your credit score is only part of the picture.

So, the lender that Monzi matches you with may take into consideration your current relationship with money and how you plan to pay back the loan.

So, Will You Conduct A Credit Check?

As the lender-finder, Monzi will not conduct a credit check on your application.

The lender we pair you with, however, may conduct one as part of their assessment. In short, we cannot guarantee we’ll find you a lender offering a no credit check loan.

Again, the lenders we work with don’t solely focus on your credit score. They may still be able to offer you a personal loan despite your bad credit.

Therefore, if you need fast auto repair loans don’t let bad credit stand in your way.

What Kind Of Car Repair Loans Can Monzi Find?

Technically, Monzi does not find loans. Instead, we may be able to pair you with a lender who might be able to offer a personal loan.

These lenders may be able to offer car repair loans of $300 to $10,000! Moreover, these loans can be divided up into three broad categories.

Loan TypeAmount ($) AUDRepayment TermSecured
Small personal loan$300 to $2,00012-months
Medium personal loan$2,100 to $4,60013 to 24-months
Large personal loan$5,000 to $10,00013 to 24-months

The repayment terms of your actual loan may vary depending on the lender you’re paired with.

The small personal loans are unsecured, therefore you won’t need to attach any asset as security.

On the other hand, medium and large personal loans are secured. As a result, you will be required to use one of your assets as collateral against the loan.

Lenders can usually accept either your car, motorbike, caravan or boat as security.

So, before you borrow money, consider what loan type is best suited to your individual situation.

Can I Apply For Car Repair Loans If I’m Receiving Centrelink?

Absolutely!

Monzi works with lenders that may be able to regard regular Centrelink payments as a form of income. As a result, you may be eligible for a car repair loan even if you are receiving Centrelink.

It should be noted, Monzi cannot guarantee whether or not your lender will approve your application.

What If I’m Unemployed?

Again, some lenders may be able to regard regular Centrelink payments as a form of income.

Therefore, if you’re unemployed and are receiving Centrelink, you may need to include your myGov details when you lodge your application.

However, because Monzi uses some of the latest in online banking technology, we’ll be able to access everything digitally. In other words, our application is always 100% online and paperwork free.

Need Emergency Money For Car Repairs?

Found yourself in an emergency?

If you need cash in your account quickly, consider using Monzi’s lender-finder service. We’ll do our best to match you with a lender in no time.

Depending on your lender, you may even receive your cash the same day you apply. This is, however, dependent on when you approve your contract, as well as inter-bank transfer times.

Before you know it you could be driving out of the mechanic with your wheels looking as good as new!

In short, Monzi makes finding a lender easy!

How Can I Pay For Car Repairs In Instalments?

Well, that’s easy – through a lender!

You won’t even have to go through the mechanic!

Here’s how:

  1. Find a lender through Monzi.
  2. Be approved for a loan.
  3. Pay your mechanic in full.
  4. Repay your lender in instalments over several months.

What Else Can I Use My Loan For?

The great thing about personal loans, is they can be used to cover almost any personal expense.

Therefore, you can use it to not only fix your car, but also to cover a rental bond, or even to go travelling!

Responsible Lenders

Monzi always works with lenders who take their responsible lending obligations seriously.

In other words, you won’t be approved for a loan you can’t reasonably afford.

You are able to get access a full copy of the responsible lending guide via The Australian Securities And Investments Commission.

What To Do With A Car You Can’t Afford To Fix

If your car is broken down, don’t just give up on it!

Instead, apply to match with a lender through Monzi. You could be back behind the wheel before you know it!

How customers rate Monzi

Need An Instant Car Repair Loan? We Will Do The Hard Work For You! Overall rating: 4.9 out of 5 based on 10 reviews.

Factor In

Costs

Two credit cards
Two credit cards

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

12 months

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate

Loan amount

$2,001 - $4,600

Terms

13 months

24 months

Costs

48% annual percantage rate

67.41% comparison rate p.a.

Example

Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan.

Loan amount

$5,000 - $10,000

Terms

13 months

24 months

Costs

21.24% annual percantage rate

48% comparison rate p.a.

Example

Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan.