To lease or buy my next Porsche
To lease or buy my next Porsche
You’ve made the decision: it’s time to get a new car. Now you’ve got to decide on how to pay for it. You can either pay for the car in full, finance it, or lease it. Let’s assume that you don’t have a pile of cash set aside for that first option. This narrows your choices down to two: leasing and financing. But how do you decide which is the right choice for you? And what about all that financial lingo dealers throw around, what does it all mean? If you are considering the acquisition of a new Porsche vehicle, but you are wondering if you should lease one or buy one, then you have come to the right place at Pfaff Leasing. There are clear benefits to both methods of getting behind the wheel of a Porsche vehicle, but here at Pfaff Leasing, we specialize in pairing our customers with quality vehicle leases. In this blog, we share some information about leasing vs buying your next Porsche.
Leasing your next Porsche
If you like the sound of driving something new every few years and saving money when making a down payment, leasing may be right for you. When you lease a vehicle, there are no loans involved. You establish lease terms based on how many months or kilometers you want to drive that vehicle. You make a down payment and pay a monthly fee, just as you would if you were financing.
When your lease term is up or you’ve reached your mileage cap, you must give the car back to the dealership or leasing agency and pay any excess depreciation or mileage fees (if any). The car also must look as close to what it did when you got it as possible, so accessories you added have to be removed and permanent alteration or customization isn’t allowed. You may have the choice of buying the car at its residual value, but most people typically lease a different vehicle under a fresh term or buy a new or used vehicle.
Your choice depends on how you are planning on driving the vehicle
It’s also good to keep in mind what you want to do with your vehicle. If you’re planning on hauling boats and trailers around on the weekends or consistently heading off the beaten path, it may be unwise to lease your vehicle. If you damage or scuff up a leased vehicle through regular use, you’ll need to either get it fixed before you turn it in or pay excess depreciation fees when you return it to the dealership or leasing agency, all for a car you don’t own. And if you plan to put in some serious mileage in your vehicle through long-distance business travel or frequent road trips, you could easily blow past your lease’s pre-established mileage limit.
Think about your long term goals
Leasing your next Porsche is a great idea if you are planning to drive the vehicle for the next few years. Usually, if you are looking at a high-end vehicle like a Porsche, it stands to reason that you will be planning on driving it for a while. At Pfaff Leasing, we can work with our clients to come to an agreement on useful lease terms for your Porsche. This means that if you think you will be driving the vehicle for 3-5 years, then your lease agreement will reflect that. Additionally, depending on how much or how little you drive, your allotted kilometer limit per year will be reflected as well.
There is no right or wrong answer for deciding to lease or buy your next Porsche vehicle. It all depends on your needs and how you drive. We encourage you to continue browsing through our Pfaff Leasing website to learn more about our inventory and how you can lease a Porsche with us.
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