The simple answer is yes; you can exploit a payday loan to get your vehicle back on the road on short notice. A payday loan is a convenient and quick solution when you have issues with your car. Though the borrowing range to cover any major car repair is broad, payday loans carry a high APR of nearly 400%. Also, consider the fact that you’ll have to repay the loan with your next paycheck. Missed or late payments might entail additional fees and press you to apply for refinancing.