Jim Jennings Transmission understands that occasionally we all run low on cash or credit and car repairs can be expensive. We have had many customers over the years trade their car or truck in because they were able to use it as a down payment on another vehicle. If you run the numbers it doesn't take an Einstein to realize spending $15,000, $20,000, or $30,000 to fix a $2,000 to $3,000 problem is probably not the best financial decision one can make.
The advantage of buying another car or truck, besides the new smell, is that you may not have to make a payment for thirty days. That decision gets you out of the most pressing problem but that first payment will be followed up by thirty-five to ninety-five additional payments. If it's a new vehicle, Consumer's Reports predicts you'll lose 47% of its value within the first three years.
Should you decide it makes more sense to repair your current vehicle and make fewer and smaller payments, we can help. We have had a great relationship with two local lenders. They are Lendmark Finance which can be reached at 410-282-4472 and Mariner Finance at 410-686-4711. They have helped many of our customers get past a rough spot over the last decade. Sometimes a ten-minute call to one or the other before you bring it in for a diagnosis takes some of the worries off your mind as to how to pay for it if it is a major repair. They can keep the payments low with a one, two, or three-year term loan.
We at Jim Jennings Transmissions have, on occasion, been able to come to the aid of our customers with alternative ways of financing. If you have been unsuccessful with Lendmark, Mariner, or other financing options, don't give up. Talk to us.