Many individuals find themselves short on cash at one point in time or another. Getting hit with a vehicle repair can definitely put a damper on your finances. Having to replace an engine or transmission is expensive and something that you cannot exactly plan for in advance. If you are looking for a way to overcome your current financial situation and get your vehicle back on the road quickly and easily, there are a couple of different loan options available to you.

Collateral loans.

If you happen to have a bunch of items around your home that are worth a fairly decent amount of money, you can always turn those items into collateral for a loan. Depending on the overall value of the item, you could end up getting exactly what you need to get out of your financial crisis. Many times you can use things like jewelry, vehicles, furs, and more as collateral for a loan.

You might have to give the lender the item in the meantime to make sure that you uphold your end of the bargain, so that is something to keep in mind as well. If you don't uphold your end of the bargain and default on the payments, the lender has the right to retain possession of your collateral to recoup the money they lost. These loans often work well for those with challenged credit and who cannot get a traditional loan from a credit union or bank. Check out a site like for more information on this kind of loan.

Payday loans.

For those who don't have anything they can use as collateral, they could always turn to a payday loan to get the money they need quickly and easily. You don't need to have perfect credit to secure these loans, which makes them ideal for people who are struggling to rebuild their credit. All you need is proof of residency, proof of income, a bank account and a couple references for the most part. You can literally have the whole process done and over within mere minutes. The money will be in hand within 24 hours for the most part, which is huge when you are working on a limited amount of time and need your money fast.

With the two options above being readily available, there is no reason why you cannot walk away with the money you need to address your current vehicle problem and get things going in the right direction again.