Porsche Lease Purchase is perfect if you want to own the vehicle at the end of your agreement, whilst controlling the level of monthly repayments by choosing to defer the payment of an agreed lump sum (known as the ‘balloon payment’) until the end of the contract. Your deposit can be as little as one monthly payment.
How does it work?
It’s really quite simple. Once you have chosen your vehicle and decided on your deposit, you need to make two decisions that will affect your monthly repayments:
Your repayment period
Choose any repayment period between 18 and 49 months.
Mileage per year
Choose how many miles you expect to drive each year between 10,000 and 60,000. This will affect both your monthly repayments and your final balloon repayment.
Once you have made these decisions, Porsche Financial Services will then calculate a monthly repayment amount and the final balloon payment.
Ending my agreement early and vehicle ownership
What happens if I want to end my agreement early?
If you wish to end your agreement early you can request a settlement quote. How far into your agreement you are will affect the amount left to pay.
Will I own the vehicle?
Ownership of the vehicle will remain with Porsche Financial Services+ until you have paid your final balloon payment and option to purchase fee.
What happens at the end of my agreement?
At the end of your agreement you have three options:
You can pay a one-off option to purchase fee of £10 as well as the final balloon payment and become the proud owner of your Porsche.
You can trade your vehicle for a new Porsche. Your old vehicle is sold back to the Porsche Centre and is used to pay off your final balloon payment. If the vehicle is worth less than final balloon payment, you must cover the shortfall. Any money left over can be used as a deposit on your new Porsche (subject to application and approval).
If you would like to keep your Porsche, without settling the final balloon payment, you may be able to refinance the outstanding amount. Just ask your Centre for more information.
Important information to consider
You are responsible for the final ‘balloon’ repayment – even if the vehicle is worth less than the ‘balloon’ repayment at the end of the agreement.
It is really important that you keep up to date with your monthly repayments, so please contact us if you are having any difficulties as the vehicle may be at risk if you don’t.
An offer of finance depends on certain conditions. Finance subject to status. Available to 18s and over. Terms and conditions apply. Porsche Financial Services+.
+ Porsche Financial Services is a trading name of Volkswagen Financial Services (UK) Limited (‘”VWFS”). Finance is provided by VWFS.
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