You should walk into the dealership knowing what you want and how to negotiate a car price. There are obviously good things about car dealer’s sign & drive leases, and then there is the other side of the coin. When you use a dealer sign and drive lease, you get the car that is available for the program. You may want a car with tinted windows and a better stereo system, but what you will get is a factory standard model. Most sign and drive deals do not allow customers to upgrade their vehicles at all.
“No Money Down”
When you close out the purchase of a car, whether you are leasing or buying, there are always extra charges you have to pay. There are costs due at signing for:
- Also, the title for the automobile
The television commercials may insinuate that you can drive away without spending money, but that is not what the fine print says on the screen as the commercial ends.
In all fairness, these costs usually add up to a few hundred dollars. You still save the thousands of dollars you would normally have to put down on a lease agreement. However, you need to be careful when assuming that a sign and drive lease requires no money down.
No matter how you slice it, the monthly payment for leasing a vehicle is always going to be lower than the monthly payment for buying the car. However, a sign and drive monthly payment will always be higher than a standard lease. It could be as much as 20 percent greater than a standard lease, depending on the agreement you sign.
The car manufacturers have to make up their money somehow, so they raise the sign and drive lease payments to make up for the lack of a down payment.
How to lease a car with bad credit.
You can apply for a lease option with us, or you may want to talk to your dealer about a standard lease contract and see if that is a better deal for you. However, if you need a car and want to repair your credit score within the next year, you will need to look into a car purchase.
Lots Of Lease Terms
One of the truly beneficial things about car leasing is that there are a variety of conditions you can choose. Some manufacturers offer more generous terms than others, but our consumers can accept the agreement they feel most comfortable with for their vehicle payments by the lenders provided.
With a sign and drive lease, you do not have any choice on the terms of your agreement. The dealership will tell you the conditions and they usually are either 27 or 32 months. All of the other standard lease conditions apply, such as mileage limitations, but you do not get to choose from a variety of terms as you would with a regular contract.