10 Reasons Why You Need an Emergency Fund for Your Car

Cars may, perhaps, be the most unpredictable and expensive property that you can own at any point in your life. They come with lots of conveniences especially when you live in the Canadian rural towns, cities, or even suburbs. Anywhere really. Worse when you have to deal with an emergency car repair, then getting a loan could be the best option to get emergency cash.

But owning a car also comes with loads of responsibilities and time and money that you have to put into it. And at other times, you may even realize that these inconveniences outweigh the benefits of owning a car, especially when dealing with emergency car repair expenses.

It would be a smart idea to open an emergency fund for your car to deal with all the problems it throws your way. This list explains ten reasons why you need to open an emergency car fund right now.

The time you need to replace your car tires

You can go for the winter tires for your cars especially when you reside in Canada. Car tires are a worthwhile investment which can end up saving your life in all kinds of climatic weather conditions. With a car emergency money fund, getting new tires for your car can’t put much pressure on you.

The “check engine” light turns on

One day you notice your “check-engine” light turns on in the middle of the month when you have almost exhausted all of your monthly income. You will be in “panic mode.” This doesn’t have to be the case when you have your car emergency fund.

Time for your car brakes to be changed

Brakes also rank among the most vital parts of your car and can save you a lot of problems if you maintain them on a regular basis. You can manage this without much stress with a car emergency fund.

When the gas price goes up

Gas prices are ever fluctuating, and you will never know that time when it will shoot up and stay up. Having extra money to cover that extra gas fees will help.

Your windshield begins to crack

You immediately know you need to have your windshield replaced the moment it begins to crack. You just can’t say you can drive through traffic on the highway with a cracked windshield without posing a danger to both yourself and other road users. An emergency fund can help you cover for a new windshield.

Your car just won’t start

Your car has refused to start, and you don’t know what’s wrong with it. Taking it to the mechanic to get checked will cost you some bucks which you can get from an emergency car fund.

The car behind you bumps into you

Let’s face it, accidents happen. But sometimes they can happen at the most unexpected times. That money set aside to deal with these problems can save you a lot of stress.

Your heating or air conditioning breaks

These can always happen during the worst weather seasons. And if you have broken heating or air conditioning, you might end up suffering a lot in your car.

Your timing belt snaps

Replacing a timing belt is quite expensive. And car emergency funds can help a great deal.

You fail to see that pothole soon enough

Potholes can cause a lot of damage to your cars which you didn’t expect. And if you don’t have the cash to repair these broken parts, you may end up having to park your car until you do.