Have you begun shopping for your next ride around Ann Arbor, Michigan? There is more than one way to do so, even for drivers without their ideal credit score.
DriveItAway offers a different option for drivers from across the financial spectrum with our rent-to-own vehicle program. Drive a car and decide if you want to purchase it after you’ve been on the road for a while.
What’s the Difference Between a Subprime Auto Loan and Standard Auto Loan?
When shopping for a vehicle, you may be offered a standard or subprime auto loan, depending on your credit score.
Subprime auto loans typically come with higher interest and longer loan terms than traditional ones. Buyers with less-than-ideal credit are considered a higher risk to lenders and, because of this, typically offer higher-interest loans, so they get the money back.
Traditional and subprime auto loans typically require a down payment upfront. A down payment helps remove some of the risks to lenders and reduce monthly payments, which are generally 10%-20% of the vehicle’s cost.
DriveItAway Offers an Alternative to Traditional Vehicle Financing
Traditional vehicle financing isn’t your only option if you want to get behind the wheel. DriveItAway offers a rent-to-own vehicle program where you can find a vehicle you love, drive it, and build your down payment as you drive. We qualify drivers based on their income rather than their credit score.
When you drive with us, you pay for your drives in advance. A portion of your payment goes towards building a down payment, which you can use if you purchase a vehicle with us.
As you drive, you’ll receive financing offers. You can choose to accept one and begin the purchasing process or continue your subscription program. Purchase and drive all on your schedule.
With Our Rent-to-Own Program, It’s All Included
When you drive a vehicle, more goes into it than just the drive. You need insurance and to schedule routine maintenance to ensure your car performs at its best. With this comes additional time spent away from family or work and more money.
The DriveItAway subscription vehicle program covers all of that for you. We’ll keep the car you drive well-maintained with routine maintenance and repairs that it may need. You can focus on driving and enjoying the ride.
Unexpected things can happen when you’re on the road. You may find yourself:
- Low on fuel
- With a flat tire
- Locked out of your ride
Our roadside assistance team can lend a hand. Every vehicle in our program comes with roadside assistance, ensuring that your drive doesn’t have to end with a bump in the road.
Our vehicles also come with insurance, so you can relax knowing that your car is covered while on the road.
Learn More About How DriveItAway Works Today
If you’re a driver around Ann Arbor, MI, interested in trying a modern way to get behind the wheel, the DriveItAway team is happy to help. All you need to get started is a smartphone.
Download our app, select your ride, and create your subscription program from your phone. Our automotive experts are there if you have questions along the way.