Should you lease a vehicle or purchase a car and take out a loan? This question crosses the mind of many customers who walk through our dealership doors. Learn the difference between a Porsche lease in Nashua, NH and an auto loan; each has its respective advantages. Find out what’s best for you according to your unique life situation.
First, let’s talk about financing. This is when you take out a loan from the bank or other financial lending institution and make monthly repayments with interest. Once you fully pay off the car, you own it for good. The better your credit score, the better your chances of securing a loan with a low-interest rate and favorable terms and conditions.
The advantages of a loan are as follows:
- No mileage limits
- No penalties for dents or other damages
- You’re free to modify the vehicle as you please
- Use the car as a trade-in once you decide to sell it
Leasing is like renting an apartment. You make monthly payments for a set amount of time to use the car. Upon the end of the lease, you can choose to buy the vehicle, begin a new lease with a new vehicle, or just walk away.
Consider the benefits of a lease:
- Drive a new car every two to three years
- On average, lower monthly payments than a loan
- No worries about depreciation affecting the resale value
- Lower to no down payments
- The vehicle is under warranty for the entire duration of the lease, so few out-of-pocket maintenance costs
At Porsche Nashua, we provide loan and leasing options on the latest models like the Porsche Cayenne and more. We also regularly have limited-time financing and leasing offers.