In a recent blog post, we told you all about the Porsche brand’s certified pre-owned vehicle program. When you get a CPO Porsche car, a “regular” pre-owned automobile, or a new Porsche vehicle from our Nashua, NH Porsche dealership, you may hear us using terms you don’t know the meaning of. If that happens, we encourage you to ask us to explain whatever term you’re unfamiliar with.
When you apply for a car loan or lease package through our Porsche finance center near Manchester, NH, we want you to be comfortable with the contract you choose to accept. For that to happen, you have to understand the language that we use.
Here are some of the terms you’ll hear our finance experts use often:
- Lease: When you take advantage of one of our Porsche lease offers, you’ll enter into an agreement that’s basically the equivalent of you renting a Porsche car for a set number of months. At the end of your contract, you’ll return your vehicle to our Porsche dealership or another approved location.
- Auto Loan: To get an auto loan, you’ll need to apply for financing. Once you’re approved, the money your lender provides will be used to cover the cost of your Porsche car. After you pay off your car loan, you’ll own your automobile.
- Title: Whether you lease or buy a Porsche car, your vehicle will have a title that identifies the person or entity that owns the car. Lessees will not possess their car’s title because they don’t own their vehicle. When you pay off your auto loan, your lender will send you the title to your vehicle.
To learn what some other common finance terms mean, contact or visit Porsche Nashua on Main Dunstable Road today.