Should I Buy or Lease a Car?

Car dealer giving car key to buyer
 

If you’re dreaming of driving a new Porsche around Stratham, you might be asking yourself, “Should I buy or lease a car?” The answer depends on your financial situation and driving needs. While there are many benefits to leasing a Porsche and many benefits to buying one, the best choice is based on your specific needs and your budget. Let’s look deeper at a lease vs. buying so that you can decide which one is right for you. Then contact Porsche Stratham to find your new Porsche!

Benefits of Buying vs. Leasing a Car

  • No Mileage Restrictions: If you put many miles on your car as you drive around Nashua, you should probably buy vs. lease a new Porsche because a lease comes with strict mileage limits. Going over the mileage limit on your lease can be costly at the end of your lease.
  • Customization Options: Buying a car means that’s when it’s paid for; you own it free and clear. When you buy a vehicle, you can do whatever you want with it. Want to paint it pale pink? You can! There are no restrictions on how you decorate or modify your car once it’s yours.
  • Potential to Refinance: When you purchase your Porsche, you have the option to refinance your loan if interest rates go down or something else changes, but you can’t refinance a lease.
  • Costs Less in the Long Term: Though buying a new Porsche costs more initially, it typically will cost you less over time. With total ownership, the vehicle becomes less expensive to own the longer you have it.
  • Ability to Sell: When you lease a car, you’re locked in until the end of the loan term, meaning you can’t trade it in, even if your situation changes. When you buy a car, you can sell it whenever you want.

Benefits of a Lease vs. Buying

  • Less Down Payment: It’s not unusual to get into a lease with no down payment or very little down. That means even if you haven’t saved up a lot of money for a down payment, you can still probably drive away in a new Porsche!
  • Less Sales Tax: In most U.S states, leasing a car lowers your sales tax burden significantly. In many areas, you only have to pay tax on your down payment.
  • High Approval Rate: Leasing a car is generally easier for drivers in Portsmouth with poor credit or even no credit. Usually, there are more lenient credit requirements for those who choose to lease vs. buying a car.
  • Lower Payments: When you lease a vehicle, your monthly payment will probably be less than if you buy a car.
  • Trade-Ins: When your lease term expires, the process of getting into your next leased Porsche is super simple. All you have to do is bring your leased vehicle back to Porsche Stratham, pay any required fees, and drive away in your next new Porsche!
  • Superb Warranty Coverage: Warranty coverage and routine maintenance are simple when you lease vs. buy. As long as you don’t go over the mileage limit, it’s typically covered and won’t cost you much, if anything.

Lease Your Next Car From Porsche Stratham Today

Explore more ways to help you seal the deal on your next ride with a look at financing at a bank vs. dealership. Regardless of whether you choose a lease vs. buying, Porsche Stratham is happy to help you select your next Porsche. Manchester drivers have high standards for their cars and their dealership, and that’s why they keep coming back to Porsche Stratham. Talk with our finance team, and then let’s go for a test drive! Contact us today!

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