Are you undecided about whether a Porsche really fits your long-term goals? Many people wonder whether this is something that they could reasonably do.
Can you lease used Porsches?
You can lease Certified Pre-Owned (CPO) Porsches that are less than five years old and have been through the Porsche 111-point inspection. Locate a dealer near you that specializes in these inspections and has a great selection of used Porsches.
Leasing a used Porsche allows you to save some money and test it out for a few years before making a major financial commitment.
How to Lease a Used Porsche
Many people fall in love with the sporty silhouettes and quiet luxury of the Porsche name brand, but they hesitate to spend the cash required for purchase. With a lease, you can have the best of both worlds: a luxury sports car or SUV with minimal cash outlay. Fortunately, leasing a used Porsche is relatively easy once you know the basic steps.
The very first thing you need to do is find a dealership that is authorized by Porsche. You can use their directory (see references below) to find one that is nearby based on your city and state.
These dealers specialize in certified pre-owned Porsches. This fancy term just means that they have undergone rigorous testing and inspections to prove that they are up to par.
You can rest assured that the car you lease will be dependable and ready to work hard for you with this type of inspection.
From here, you simply need to lease the car the same as you would any other type of vehicle.
There are some ways that you can customize the lease so that it fits into your lifestyle. Financial flexibility is one of the hallmarks of leasing a new-to-you Porsche. They offer flexible terms, mileage options, and they do not require a security deposit. Some individuals prefer to pay for the entire lease in full to save a bit more money.
What Exactly is a CPO Car?
A certified pre-owned (CPO) car is a vehicle that has been used but is thoroughly tested to give you peace of mind before purchase or lease. It entails a 111-point inspection that covers everything from the exterior of the vehicle to the engine.
You should keep in mind that not all used Porsches can be considered for the CPO program.
Only current model year vehicles and those of thirteen previous model years from the original in-service date with fewer than 124,000 miles are eligible.
Choosing a CPO Porsche comes with a few perks. The Porsche-approved rating means that you have a two-year unlimited mile warranty coverage after the expiration of the new vehicle limited warranty. It ensures that the car meets Porsche preparation standards and that only genuine Porsche parts have been used in the vehicle.
While you can purchase and lease used Porsches without the CPO title, it pays to have the peace of mind associated with this inspection.
How Much Does it Cost to Lease a Used Porsche?
Leasing a used Porsche is still going to be expensive, even though it does cut back on the amount that you will have to pay out initially. Remember that some people do prefer to pay for their lease in one lump sum to take advantage of dealer discounts.
Expect to pay more than $1,000 per month for your lease.
A 2018 Panamera with a sixty-month lease will set you back roughly $2,000 per month, while something a bit sportier like the 911 Turbo is more likely to cost around $2,700 to $3,000 per month for the same lease terms.
The basic Cayenne may be one of the more affordable models with lease terms coming in around the expected $1,000 rate and increasing for models with luxury add-ons.
The Macan is one of the cheapest Porsches that you can purchase new, so it makes sense that it is also one of the cheapest used Porsches to lease. A 2017 Macan typically comes in just slightly under $1,000 for a sixty-month lease.
What is the Cheapest Porsche Model to Lease?
If you want to understand which Porsche model is the least expensive to lease, it can help to take a look at which ones are the least expensive to purchase when they are new.
As you can see from this list of prices below, the Porsche Macan should be the least expensive for you to lease, as long as you are opting for the base model.
|Macan||$50,900 – $83,600|
|Panamera||$87,200 – $153,000|
|Cayenne||$66,800 – $75,300|
|Taycan||$103,800 – $188,960|
|911||$97,400 – $293,200|
|718||$56,900 – $96,300|
If you choose to lease a more luxurious car, you might find that the Cayenne is pretty close in price to the Macan.
It simply depends on which features you want in your leased vehicle and what the original base price of the car was.
How Much Cheaper is it to Lease a USED Porsche?
Leasing a used Porsche can be a great way to save a few dollars and still get to ride around in luxury. Unfortunately, you might find that the cost savings are not significant between a new Porsche and a Certified Pre-Owned Porsche.
The similarity in price occurs for a couple of reasons. First, most people do not use their Porsches to drive around in day after day.
They put very few miles on them, so many “used” Porsche cars are practically new with less than 10,000 miles on their engines.
Your lease agreement may limit the number of miles you are allowed to drive as well.
Second, the process of making a used Porsche into a CPO car is incredibly rigorous and requires time, skill, and financial investment. This makes them a little bit more expensive than standard used cars who do not undergo this type of testing.
5 Questions to Ask Before You Lease a CPO Porsche Model:
Before you head out to your local dealer, you should be prepared to ask a few questions. It pays to be well-educated and understand every bit of the fine print on your contract. Never sign on the dotted line until you have asked and answered these key questions.
1. How Old is the Porsche?
The dream of driving a brand new Porsche does not have to die just because you want to lease instead of purchase.
However, some people prefer the cost savings of leasing a used model. Inquiring about the age of the car is an important first step before you get swept away in the minor details of arranging the lease.
Keep in mind that Porsche does not allow you to lease a vehicle that is more than five years old.
This ensures that every model available for lease on the dealer’s lot will have relatively new features and functions.
2. How Many Miles Does the Lease Include?
You might be surprised by some of the terms included in your new lease agreement. If you plan to lease a Porsche, they may have smaller mileage amounts included annually.
Most dealers do not plan for their Porsche cars to be driven every day, to and from work or around the town. They are meant to be special occasion cars, so the miles included in your lease may be relatively few.
3. How Much Money is Required Upfront?
Did you recently see a great deal on a lease for a CPO Porsche and thought it sounded too good to be true?
The reality is that it might be just that. Some dealers will charge lower monthly fees to make their cars seem more appealing to potential leasers.
However, they tack on a hefty initial fee to make up for those rock bottom monthly rates.
4. What Payments Are Due at the End of the Lease?
While you may think you have the total cost upfront, you better ask what payments are due at the end of the lease. You might be on the hook for expensive add-ons like excess mileage fees, damage, and more.
Make sure you have everything that you could be responsible for in writing before you decide to finalize your lease.
As you head toward the end of your lease, your dealer will begin to walk you through the process of returning the car and reach out to you regarding your next lease.
5. Do You Have Total Loss Protection?
One of the key benefits of leasing a CPO Porsche is its total loss protection.
If you were to get in a serious accident or the car is stolen, PFS waives the balance between the insurance settlement and the balance owed on the lease, subject to terms and conditions of the lease.
There are a lot of benefits associated with leasing a used Porsche instead of purchasing a new one.
If you have been on the fence about investing in your next car, this is a great way to test out a Porsche to see if it is the right fit for you!