Consumer Car Buying Advice Blog

Unlike a recent blog article entitled drive your Ferrari with a bad credit car loan there is no such thing as being able to do a sign and drive with a bad credit auto loan.

Unlike the Ferrari, this question made sense

At Auto Credit Express, we realize that there are a number of ways other web sites try to entice bad credit car loan shoppers into filling out a credit application. One recent article was entitled “Drive Your Ferrari with A Bad Credit Car Loan.”

Not only do we refuse to go this route, we actually try to explain the subprime loan process to our customers so they’ll know what to expect before they step on a dealer’s lot. As part of this approach, we try and answer many of the questions we get daily from customers with bad credit regarding special finance. Recently, we received a question from a customer regarding a Sign and Drive car loan with bad credit. Here is the answer:

The meaning of sign and drive

The phrase “Sign and Drive” actually refers to a type of lease program that enables the buyer to pay only tax, title and license fees up front (while a regular lease requires an additional first payment and security deposit) and then just drive off with the car.

In the context of subprime financing, there is no “sign and drive”. The primary reason for this is that most bad credit car loans are for buying, not leasing, a car. The second reason this doesn’t apply to bad credit car finance is that even in leasing, the sign and drive option is usually reserved for the most qualified leasing customers – those with the best credit. As a result, most bad credit customers don’t qualify for leasing, much less a “sign and drive” program.

The good news

For bad credit auto loan customers, there is good news here. While sign and drive is not an option, the subprime car loan process, if done correctly, will help you reestablish your car credit and raise your FICO score so that eventually you very well could qualify for a “sign and drive” program.

At Auto Credit Express we can help

For nearly 20 years, Auto Credit Express has been helping people with credit problems get approved for new and used car loans. Our dealers work with a broad spectrum of lenders to get you approved. Once you’re approved, each month you make a timely car payment you will improve your credit score and reestablish your financial future.

Unlike many other services, we belong to the Better Business Bureau and our web site is SSL secured, ensuring the privacy of your personal information. Since our inception, we have processed over 1,000,000 online applications and closed over 1 billion dollars in bad credit auto loans.

Isn’t it time you visited www.autocreditexpress.com to see what we can do for you?

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