Consumer Car Buying Advice Blog

If you have bad credit you may be wondering if you can do a sign and drive for a bad credit car loan. Here is the answer.

Doing a sign and drive with bad credit

So here is the scenario: You’ve gone to a legitimate bad credit auto loan web site such as Auto Credit Express. By filling out the online bad credit auto loan application and avoiding a tote the note dealer, you’ve set yourself up to begin a new chapter in your life by getting approved at one of our affiliate dealers for a second chance auto loan. By doing this, you will be able to raise your FICO scores and reestablish your auto credit. But you’re not looking for just any loan, you’re interested in a “sign and drive” loan.

In our customer service department here at Auto Credit Express, one of the questions we regularly need to answer is whether or not people with bad credit can do a sign and drive loan. And since we are in the business of helping people with damaged credit, we thought that it was about time we posted an explanation about sign and drive loans.

What sign and drive really means

The term “sign and drive” is actually a reference to a particular type of lease program. Under a sign and drive program, a buyer is able to enter into a lease by paying only the state taxes, title and license fees up front when taking delivery of the leased vehicle. Under normal circumstances, lease terms require that the first monthly payment, plus a security deposit, be paid in addition to these fees as part of what is known in the leasing business as upfront fees or “up fronts.”

Sign and drive with bad credit

The majority of auto loans for bad credit are for purchasing, not leasing, a vehicle. But in addition to the fact that the leasing option is rarely available to bad credit consumers, it should also be noted that the “sign and drive” lease option, itself, is usually reserved only for the best leasing customers. Because of this double whammy, most bad credit auto loan customers will not qualify for any type of sign and drive program.

The alternative

While a sign and drive is almost certainly not an option for most credit-challenged consumers, there is an alternative out there that can help you rebuild your credit so that eventually you may very well qualify for a sign and drive lease, and it’s something that we offer at Auto Credit Express.

As we see it

Don’t be discouraged if you can’t qualify for a sign and drive lease right now. Although you may have made some mistakes in the past, the bad credit auto loan process should be looked upon as a stepping stone to better credit. By financing a car and making your payments on time, you can use this type of loan as to reestablish your auto credit and raise your credit scores.

Auto Credit Express has helped thousands of people with bad credit buy a car and reestablish their auto credit at the same time. Our nationwide network of affiliate dealers specializes in bad credit car loans. Since our inception, we have processed over 2 million online applications and our dealers have closed over $1 billion in auto loans.

So if you are serious about getting your credit back on track, you can begin the process right now by filling out our secure online bad credit car loan application.

Tags: auto credit, bad credit, credit, credit score, credit scores, fico, FICO score, sign and drive, sign and drive loan, tote the note

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