So you've decided that your next vehicle is going to be a Porsche. Good for you! While you're daydreaming about taking your new Panamera, 911 or Macan for a drive around Phoenix, you likely still need to decide whether you want to finance or lease your Porsche. If you're not sure which is the best option for you, we've put together this guide to help you decide.

If you're in a profession where you need to entertain clients, a lease may be the right way to go since you're able to get behind the wheel of a more luxurious vehicle for less money -- and there may be tax benefits, depending on your job. Leasing also makes a great deal of sense for our customers who prefer to drive a new vehicle every two or three years.

Pros of Leasing a Vehicle

  • Lower down payment and monthly payments
  • You're responsible for fewer repair costs, since the factory warranty covers most repairs over the lease's terms
  • No need for trade-in discussions at the lease's end
  • You only pay sales tax on the portion of the car that you finance (i.e., the lease's length)
  • You're able to get into the newest, safest model every two or three years, with the lowest initial outlay
  • If the vehicle ends up damaged, or with a bad CarFax® history report, you can still return it

Cons to Leasing a Vehicle

  • You don't own the vehicle when the lease ends
  • Typically, you're restricted to driving between 12,000 and 15,000 miles per year, and pay a penalty in the form of excess mileage fees at the end of the lease
  • If you're not responsible about taking care of your Porsche, wear-and-tear charges may add up and be due at the end of your lease
  • Over the long run, continuing to lease vehicles could cost you more money than if you purchase vehicles and continue to drive them after the loan is paid

Pros of Buying a Vehicle

  • You're free to modify and accessorize your vehicle to your heart's desire
  • Purchasing is the significantly more economical option if you make a habit of keeping your vehicles after your loan is paid off
  • There are no excess mileage penalties
  • you enjoy greater flexibility to sell or trade-in your vehicle when you wish
  • You're entitled to the vehicle's equity when you're ready to sell it or trade it in

Cons of Buying a Vehicle

  • You typically have a higher down-payment and subsequent monthly payments
  • You're responsible for all maintenance and repair costs after the new car warranty expires
  • Trade-in discussions can be an aggravation, especially if your vehicle has a negative CarFax® report

To sum it all up, leasing lets you get behind the wheel of a Porsche for less money, since you're only financing a portion of the vehicle's cost. However, once the lease is up you'll either need to return the vehicle and then lease or purchase another, or purchase the car you've been driving -- meaning yet more payments. When you purchase your car you're typically signing up for higher payments over a longer period of time, but you'll have full ownership of the Porsche once your payments end.

In the end, only you can decide which route is the best one for you to take. However, if you'd like to speak with one of the professionals in our Finance Center to discuss your options in greater detail, contact Porsche Chandler at a time that's most convenient for you.

Categories: Finance, New Inventory