How does volkswagen sign and drive work

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About Us Contact Us Careers. View Facebook View Youtube-play. These offers do not represent all available deposit, investment, loan or credit products. This type of lease seems pretty straightforward: You sign a dotted line and drive away with your dream car. But sign and drive deals are not as easy to qualify for, or nearly as cheap as you might think. A sign and drive deal is a leasing or purchasing option offered by dealerships.

Instead of shelling out thousands of dollars on a car down payment, a sign and drive deal allows you to sign some paperwork and drive off the lot with a new car. Its event lasted from November through early January, allowing customers to drive home in brand new cars, from the Passat to the Tiguan. As one of the best lease deals available, the Sign Then Drive Event draws large crowds looking to get into new cars before the new year. Speak with your local Volkswagen dealership to learn about ongoing specials in your area.

Keep in mind that VW sign and drive qualifications will vary depending on where you live. Sign then drive lease deals can be a good option for people without cash on hand for a new car.

However, while these types of deals might appeal to most drivers, only those with high credit scores will qualify. Although standards vary according to car dealer and manufacturer, you can expect minimum sign then drive credit score requirements around , according to Wantalease.

The lease factor or money factor is the interest rate of your lease. To convert the interest rate of your lease to the money factor, divide the rate by 2, For example, if your interest rate is 4 percent, the money factor will be 0.

You will use the money factor to help calculate your monthly payments. The residual value of a car is its value after the end of your lease. A residual value percentage between 45 and 60 percent is typical for cars on month leases. That means that at the end of your lease, you can expect your car to be worth between 45 and 60 percent less than what it was worth at the start of your lease. Keep in mind your base monthly payment does not include taxes, fees or interest.

Assuming a 4 percent interest rate, the money factor will be 0. Remember that this amount does not account for taxes and other fees. See more offers to help you save money and reach your financial goals in Combined, these fees are known as drive out costs, or the cash due at lease signing.

At the end of your lease, expect to pay a disposition fee, which is a fee charged by the dealership or leasing company. They use this fee to compensate for the cost of selling a lease vehicle. If you drive your leased car a lot and go over your allotted mileage, be prepared to pay a fee for every extra mile.

During your end-of-lease inspection, be prepared to pay fees for any damage that goes beyond typical wear-and-tear. Sometimes, your inspector will measure the size of scratches and other damage and then, using a template, calculate how much you owe. If, for example, you absolutely cannot put money down but you need a car, a sign and drive deal can be a good option for you.

Just be certain you can afford higher monthly payments. You might also want to consider whether a lease is a good idea.

Consider these factors before signing a car lease:.