Do you dream of experiencing the speed and exhilaration of driving a Porsche? Does your bank account tremble at the thought of buying one outright? If you answered yes to both of those, don't give up on the dream just yet. There's a solution. A solution that will give you the thrill of slipping behind the wheel of your fantasy Porsche with out breaking the bank in the process. Renting a Porsche is an easy, affordable way of fulfilling your dreams. It's quick, it's simple, and it's almost completely hassle-free. Here's what you need to know about the best way to rent a Porsche.
Renting Via Porsche Preferred Lease
Obviously, if you want to rent a car for a short period - a few days, or even a couple of weeks - rental companies like Hertz are a good option. But what if you want to roll the rental period on for several months? What if you're not prepared to sacrifice the joy of driving a Porsche quite so quickly? In these kinds of cases, the official Porsche Preferred Lease program run directly through Porsche is the best option. As per Porsche.com, the program provides flexible, attractive terms and the option to select from a huge range of new and used models. Better yet, the monthly payment terms are very reasonable, giving you the chance to experience the heritage and innovation of Porsche's range of vehicles without having to take out a second mortgage in the process. Leasing a vehicle via the Porsche Preferred Lease program carries numerous benefits, including:
The Preferred Lease program allows you to customize your plan to suit your needs. Pick between models, mileage options, and even payment terms. If you'd rather pay for the duration of the rental term in one lump sum payment (thereby reducing the overall spend), you can. If you'd prefer to spread the cost over the full lease period, you can do that too.
Peace of Mind
When you buy a new Porsche, you get a great car. What you also get is a car that starts losing value from the very second you drive away from the dealership. With a lease, you don't have to worry about any depreciation in value resulting from outside factors. The vehicle residual value is set in advance, meaning you don't have to lose sleep over any uncertainly in resale value at the end of the lease term. The peace of mind doesn't end there. If your rental car is deemed a total loss because of an accident or a theft, Porsche will waive the difference between the insurance settlement and the remaining balance owed on the lease. As a result, you won't spend the next few months paying for a car you can't use.
If you fall in love with your rental car, you have the option to buy it at the residual value set at the beginning of the lease term. If you don't, you can simply hand it in and move onto the next one.
Renting a Used Porsche
Renting a new Porsche might be a thrill, but don't underestimate the value of the used car segment. Not only does it afford you the same great thrill of driving a Porsche, but by and large, it's also considerably cheaper. As motorandwheels.com explains, it's possible to rent used Porsches through the Certified Pre-Owned (CPO) program. All cars within the program are less than five years old, have limited mileage, and have been through a rigorous inspection to guarantee their condition.
Only current year model vehicles and those of thirteen previous model years are eligible to become CPOs. There is also a mileage limit of 124,000 miles. Combine those two things with the 11 point inspection each car has to undergo prior to achieving CPO status, and you can rest assured that the car you rent will be, if not new, then as close as you're going to get to a new Porsche without forking out half your annual income.
The program is supported directly through Porsche and is available via Porsche dealerships only. Not all dealerships offer the program, and the selection of available models varies by dealership. However, if you're willing to look around, you shouldn't have too many difficulties in sourcing a dealership that offers the model you want. Once you find it, the lease process is the same as it would be for any other vehicle.
The Cost of Renting a CPO Porsche
Whether we're talking new or used, a Porsche is still a Porsche. And Porsches are expensive cars. While going the used route can save you a lot of money compared to renting a new car, you can still expect to hand over a considerable amount in monthly payments. The actual cost will depend on the model you decide on, but as an average, you shouldn't expect to get away with any less than around $1000 per month. One way of reducing the overall cost is to consider paying for the duration of the lease in one lump sum payment. This will generally lower the overall charge by letting you take advantage of any dealer discounts on offer. If your budget is limited, remember that choosing the base model of a vehicle is generally the least expensive way of going about things.
Is Renting a Good Idea?
Whether you rent a new Porsche or a used one, it pays to consider whether it's the most effective solution for your needs. In the short term, renting a Porsche lets you test out a model and decide if it lives up to expectations. If you're planning on ultimately buying a Porsche, the 'try it before you buy it' method of renting is a good choice. Equally, it's a handy option for those who aren't considering buying a Porsche in the long term, but who simply want to experience the perks of driving one for a limited time.
If, on the other hand, you're looking at renting on a long-term basis, there are several things to consider before entering into an agreement. As Cars.com notes, renting in the long term (six years plus) will typically work out more expensive than simply buying a new car and keeping it for a little while after it's been paid off. This applies as much to new cars as to used ones. If you continue to trade in one leased vehicle for another, you'll never have a vehicle you can use as a trade-in for a down payment. Ultimately, you'll be paying for the benefit of driving a Porsche while giving up the benefits that come with ownership.
Written by Benjamin Smith
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