Financing Your Porsche: 5 Keys to Financing a Car

Your dream of owning a sleek, new Porsche requires careful planning, especially when it comes to financing. You need to ensure that you secure a loan, and drive away with your dream Porsche without breaking the bank. Here are our top tips on how to finance a car at your Porsche center.

How to Finance a Car: 5 Keys From Your Porsche Center

1. Know Your Credit Score

Before you start shopping for a new Porsche, know your credit score, because it will determine your loan terms. This allows you to set realistic expectations when applying for financing and avoid credit surprises. If your credit score is lower than you expected, you can choose a cheaper Porsche model. You could also take steps to improve your credit before applying for financing.

2. Get Pre-Approved

If you opt to get financing at your Porsche center, you don’t have to get pre-approval. However, we recommend it because it gives you a clear picture of the loan amount, interest rate, and monthly payments you qualify for. This allows you to understand the terms and make informed decisions before shopping for a Porsche.

Pre-approval is especially great for buyers with credit challenges because it allows you to understand your financing options. But even if you have poor credit, we have various program financing programs tailored for you. You can fill out a pre-approval form on our website, and our finance team will reach out to you.

3. Make a Down Payment

You can finance a car with no down payment, especially if you have excellent credit. But this means you have to take on a bigger loan and may pay a higher interest rate. Put down a sizeable down payment to lower the loan amount and interest charges. If you have an existing vehicle, consider trading it in at a Porsche center to supplement your down payment.

4. Choose a Reasonable Loan Term

Just because you can get a loan term of up to 84 months doesn’t mean you should stretch out the loan that far. A longer term means you will pay more interest over the life of the loan, even though the monthly payments may be lower. With a shorter term, you will pay less in interest and build equity in your Porsche faster.

5. Consider a Lease

If you drive around less than 15,000-miles a year, it may be wise to consider leasing a Porsche instead of a traditional loan. Leases may include favorable rates, lower monthly payments and the end of the lease term you can hand the car back and start again with a new Porsche. Check for lease specials.

Financing your Porsche doesn’t have to be a stressful experience. You can apply online for a loan, or visit Porsche West Broward in Davie, FL to discuss car financing options with our team. 

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