Best way for college student to pay for car repairs?

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3 posts
romaire
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Best way for college student to pay for car repairs?

Postby romaire » Sun Aug 12, 2012 11:02 am

Hey guys, recently my care began giving me trouble (transmission) so I took the car to a local mechanic. He had a look at it and basically told me that the total cost of repair would be $2600+tax. To make a long story short I only have about $900 in my savings.

As a college student, having transportation is extremely important so I had no other option but to get it fixed. I had to apply for a Napa AutoCare card through them and luckily I was approved for $1500. I had to use that whole balance of course, plus the $900 I already have brings me to $2400. I planned on using my Discover more card ($1000 CL) to cover the remaining $400 (after tax included).

I do have a part time job and I'm sure I can make the payments on the $1500 Napa. I know my credit score will take a ding initially but if I manage this properly is it possible to make this situation beneficial in the long run? And also, what do you guys think about the Napa Credit Card?


kcarter609
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Postby kcarter609 » Sun Aug 12, 2012 1:10 pm

Your credit score will go back to a good number as you pay down the debt. There really isn't a "bad situation" here that you can turn into something beneficial. You'll pay interest, yes, but you paid for your car to be fixed which is necessary. Just don't miss any payments, pay much more than the minimums, and you'll just keep adding to your credit history.

No experience with the NAPA card, so I can't offer any input there.

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romaire
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Location: New Orleans

Postby romaire » Sun Aug 12, 2012 1:56 pm

Thanks for the insight!



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