Here is my experience with Porsche Financial Services: I purchased my car in 2014, paying most down immediately and financing only a small amount after the "Business Manager" talked me into financing at least some of it claiming future positive financial benefits to me for successful auto financing. I could have paid the entire price right away, and should have.
I am here to tell you, that if you are in a position to purchase outright and AVOID using Porsche Financial Services, do yourself a huge favor, and do so. If you sign up for their automatic payment withdrawals from your bank account, be aware that THEY MAY NOT AUTOMATICALLY WITHDRAW your final payment. This happened to me. Before you even know you have missed a payment, you are officially "late".
A late fee is assessed, and you will get a warning letter. When I inquired as to why they would suddenly discontinue automatic withdrawals as of my final payment, I was told I had been signed up for their "Retail" program. ????????? WTF????
I had all the correspondence I ever received from them, and there was never ANY mention of the fact that they would not automatically withdraw my final payment. They acknowledged this when I phoned them, and immediately removed the late fee from my account. Nevertheless, In shock, I immediately mailed in my final payment, and although my check cleared shortly after that, I still received a subsequent letter threatening me with further action including a negative report to the credit bureaus. And when you call "customer service", upset and in shock, they will give you attitude!
You will think you are in the Bizarro World! To me, this whole thing is an obvious scam to assess late fees to unsuspecting customers, and I have contacted a class action lawsuit firm to let them know about my experience. If enough people complain, maybe at some point they will be sued. Meanwhile, avoid them and save yourself a huge hassle.
If you have to finance, use anyone but them. Your local nefarious storefront payday loan guys would be a better option than Porsche Financial Services.
Product or Service Mentioned:
Porsche Customer Care.
Reason of review: Problems with payment.
Preferred solution: Written apology and guarantee my credit rating will not be damaged due to this..