Should I Buy or Lease?

luxury car salesman giving new car key
You’ve seen the new vehicles, you’ve researched all the features and trims, and you’ve decided that it’s time to get that dream Porsche that you’ve always wanted – but now what? Many Farmington Hills and Rochester Hills drivers visit us in Birmingham unsure of whether a lease vs. buying makes more sense, and the answer may vary for everyone. Both options have their own sets of pros and cons, so let’s walk through the differences to help you make the best decision for your needs!


Benefits of Buying

Buying is the more common financing option. While buying comes with major benefits like total ownership and customization rights, it is also much more of a commitment when compared to leasing. Why should you consider buying your next Porsche?

  • Mileage: If you’re a high-mileage driver, there’s no need to worry about taking the scenic route around Bloomfield Hills. You will not have any mileage restrictions placed on your vehicle.
  • Ownership: The vehicle will be yours and yours alone, so you get total control. Change the appearance, swap out performance parts, add accessories, whatever you want!
  • Selling: Since you own the vehicle, you can sell it whenever you choose.
  • Financing: The financing process is a little more forgiving and a little more straightforward, and you can also refinance down the line if you want.

Benefits of Leasing

Leasing may be a shorter-term solution – but that may work in your favor. The short contract offers more flexibility for those who aren’t sold on a particular model for life.

  • Versatility: Leasing contracts last for around 3 years on average, which means you can regularly upgrade – and you’ll never miss out on the latest Porsche 911 features!
  • Shorter Commitment: Sticking with the same car for decades isn’t the solution for everyone, and when you lease a vehicle instead of buying, you simply hand over the keys at the end of your contract. No need to try to find a buyer or negotiate with strangers.
  • Lower Payments: Leasing involves lower monthly payments, smaller down payments, and less sales tax – lower costs up front when compared to buying a car.
  • Warranty: Your leasing contract typically lasts as long as most bumper-to-bumper warranties, which means you can feel free to drive with total peace of mind.

Should I Buy or Lease?

So, should I buy or lease? There’s no wrong decision, but if you’d like a little personalized assistance, feel free to drop by Fred Lavery Porsche Company to visit us at Fred Lavery Porsche Company! We’d be happy to share our best car buying tips and new vehicle specials. Contact us with any questions about the Porsche lease price or car loan interest rates.

 

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