Getting a car loan doesn't have to be a nightmare, even with bad credit.

Bad Credit Auto Loans Vs. Sign and Drive Auto Loans

Bad credit auto loans and sign & drive loans are completely different. This is made more confusing by sign and drive leases which are also different. Sign and drive leases are when a person pays to borrow a car for a certain amount of time. Sign and drive loans allow people to pay off the cost of the car to eventually have full ownership of it. Bad credit car loans are for those with bad credit needing a car but also wanting to improve their credit rating.

Unfortunately, those with bad credit are rarely able to get sign and drive leases or loans. If your credit score is low, your options are limited. At Car Loan Cash Now, we want to help our customers get their credit on track while driving a safe and reliable car that suits their needs.

Sign and Drive Leases, Loans and Bad Credit Auto Loans Explained

Sign and drive loans are vehicle finance programs designed for new car purchases. The only upfront cost to the buyer is the taxes, title, and licensing fee. There is no down payment required.

Sign and drive leases are completely different. Often, you’ll see commercials like “sign and drive event” plastered next to the highway. These are to cull in new business and sell the most current models. Don’t fall into the marketing trap. These are often for sign and drive leases. They do not allow you to buy the vehicle. Instead, you are paying to borrow the car so make sure you read the small print.

Bad credit auto loans work differently. These often require some form of down payment but have lower interest rates and help improve a person’s credit rating. This is a more realistic type of loan for people with a low credit score.

Why People Try and Get Sign and Drive Leases or Loans

Sign and drive leases and loans seem appealing because you will not need to make a large down payment. Unfortunately, these are not available to people with bad credit. Sign and drive leases, in particular, are only for those with exceptional credit.

For people with bad credit, lenders are almost always going to ask for some form of upfront payment. This will show an incentive towards paying off the rest of the loan. Bad credit auto loans enable people to get a reasonable loan with realistic interest rates. Consequently, you’ll be able to rebuild your credit rating.

High Risk and Bad Credit Car Loans at Car Loan Cash Now

At Car Loan Cash Now we offer an alternative to sign and drive leases and loans. If you want to rebuild your credit rating, high risk or bad credit car loans could be the best option. In addition to this, we work with a network of lenders who offer loans with terms created especially for those in less favorable financial situations.

With our loans, each monthly or weekly payment you make gets you one step closer to a better credit score. By paying in agreement with the loan’s schedule, you will be able to get future loans with even better fees. Our application form takes no more than a couple of minutes to fill in and only 60 seconds to be approved for.

Finally, our lenders work with the credit bureaus meaning your good behaviour will not go unnoticed. As a result, you may even be eligible for sign and drive leases once you get back on your feet! To find out more about bad credit auto loans contact us today.