Navigating car repairs can be stressful, and understanding your payment options is crucial. Midas Auto Repair offers various services, and it’s wise to be informed about how you can finance these essential automotive needs. While “leases” aren’t directly applicable to auto repairs, Midas provides financial tools like the Midas Credit Card to help manage repair costs. Let’s delve into what you should know about financing your car repairs at Midas.
Understanding the Midas Credit Card and Financing
Midas, in partnership with Comenity Capital Bank, offers the Midas Credit Card, designed to make auto repairs more accessible. This card comes with specific terms and potential benefits that are important to understand before you apply.
Deferred Interest Payment Plans
One of the key features often associated with the Midas Credit Card is a deferred interest plan. This type of plan can be attractive, but it’s vital to grasp how it works. With a deferred interest plan, interest accrues from the date of purchase. However, if you pay the promotional plan balance in full within the specified promotional period, you won’t be charged the accrued interest.
It’s crucial to recognize that minimum payments are required for each credit plan, but these minimum payments may not be sufficient to pay off the promotional balance within the promotional period. To avoid paying the accumulated interest, you might need to make payments larger than the minimum amount. This plan is typically valid for a single transaction, so each repair might have its own financing plan.
Purchase APR and Account Terms
If the promotional plan balance is not paid in full within the promotional period, the accrued interest will be charged to your account. For new accounts opened as of March 2025, the Purchase Annual Percentage Rate (APR) is 29.99%. Additionally, there’s a minimum interest charge of $2.00 in any billing period where interest is due.
If you are an existing cardholder, it’s essential to refer to your credit card agreement for your specific account terms, as these may differ from the terms for new accounts. Credit card offers are always subject to credit approval, and the Midas Credit Card is exclusively valid at participating Midas locations.
Alt text: Midas logo displayed, representing auto repair and service brand.
Beyond Financing: Midas Guarantees and Promises
Midas also stands out with its guarantees and promises, adding value beyond just financing options. These include:
Limited Lifetime Parts Guarantee™
Midas offers a Limited Lifetime Parts Guarantee™ which is a significant benefit for car owners. This guarantee is valid for as long as you own your car and applies to specific parts including brake pads, shoes, mufflers, shocks, and struts. It’s important to note that shop fees are additional, and you should always check with your local store for complete details and applicability as it can vary by location. The guarantee has no cash value, and charges for additional parts and services may apply if needed. This guarantee is honored at participating Midas locations.
Alt text: Close-up of brake repair service in progress at Midas, highlighting expertise in automotive maintenance.
Midas Tire Care Promise™
For customers purchasing a set of four qualifying tires, Midas provides the Midas Tire Care Promise™. This promise includes free tire rotation and re-balancing every 5,000 miles (or 8,000 kilometers in some locations). Additionally, it covers alignment checks, tire air pressure checks, and inspections for irregular tire wear. Please be aware that a TPMS (Tire Pressure Monitoring System) reset may incur an extra charge, and it’s advisable to check with the store prior to rotation to determine if a reset is required. Similar to the parts guarantee, shop fees are additional, and this promise has no cash value. Charges for extra services or parts, if needed, will apply, and it’s valid at participating locations. This promise typically applies to most vehicles.
Alt text: Midas technician performing tire rotation service, ensuring vehicle tire maintenance and longevity.
Conclusion: Making Informed Decisions About Midas Auto Repair Financing
While Midas doesn’t offer “leases” for auto repairs, understanding the Midas Credit Card and its financing options, like deferred interest plans, is essential for managing your car repair expenses. Coupled with valuable guarantees like the Limited Lifetime Parts Guarantee™ and the Tire Care Promise™, Midas aims to provide comprehensive service and support for your vehicle. Always read the fine print, understand the terms and conditions of financing, and discuss any questions with your Midas service advisor to make informed decisions about your car care.
