You've probably seen an abundance of car dealership advertisements about sign and drive lease deals for 2014. But, do you know exactly what a sign and drive deal lease is? A sign and drive lease deal is an alternative form of auto loan. Unlike other auto loans where you have to pay a down payment upfront which is a percentage of the vehicle cost. With sign and drive lease deals consumers can sign a lease agreement for the vehicle and pay almost nothing for the vehicle upfront. As soon as you sign the lease, you can drive the vehicle.
Is a sign and drive lease deal, the best option for you? If you live in a state where the only way to get around is by car then having a car may be your top priority. What happens if your car breaks down and you need a new vehicle. Sign and drive lease deals allow many people to get a car who would not be able to do so otherwise because they may lack the money to make a down payment. In addition, with new car lease deals consumers can benefit greatly because they will have a new car to drive and have lower monthly payments than taking out a traditional auto loan in 2014.
Sign and drive lease deals are ideal for individuals with good credit and who have a steady source of income from employment. Many financial advisers talk against sign and drive lease deals because they feel that new car lease deals only favor those with good credit. However, even with a traditional auto loan you still need to have good credit and a reliable source of income so that you can keep up with the monthly payments.
Keep in mind that every individual's financial situation is different. You have to understand your finances and determine what type of auto loan is best for you in 2014. Again sign and drive lease deals are one of the best kind of new car lease deals because they allow consumers to be able to drive a vehicle without paying a hefty down payment. In addition, a sign and drive lease deal tends to have lower monthly payments than a traditional auto loan.