NH 132 runs from Concord north to Ashland in the Lakes Region, parallel to Interstate 93.

This is a role usually held by US 3, however in the Lakes Region, US 3 takes a more easterly route and deviates some distance from I-93.

The route's southern terminus is at NH 9 in Concord and is known locally as East Side Drive.

NH 132 passes under I-93 twice more before leaving New Hampton and entering Ashland, just south of the main village of that town.

In Ashland, the route follows Depot Street before reaching its northern terminus at US 3/NH 25 (Daniel Webster Highway) at the center of the village.