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Porsche Financial Services

DRZ911

Well-known member
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13 Mar 2013
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Anyone have any opinions or experience of Porsche Financial Services (trading as VW Financial Services) to fund their vehicle. :?:
 
can more expensive but just depends on the deal, and what they are looking to shift

since all car finance deals are at rates of their choosing
 
As far as the APR, not the cheapest around. 5.9% iirc.
Industry standard terms in so much as you can settle early, and you only pay a months interest at most.

Once you sign any agreement , you don't really have anything to do with them :dont know:
 
Thanks for the replies guys.

My experience of PFS has been as follows ......

Wanted to terminate a large HP agreement after a few monthly direct debits by paying a one-off cash settlement figure. Got a settlement figure from PFS and paid it off by cheque (as BACS was not accepted).

This is where things started to go wrong.

No acknowledgment from PFS of receiving my cheque, and no acknowledgement from PFS that my HP agreement was fully paid up.

The weeks rolled by and I asked my OPC what was happening, but received nothing back. This carried on for 10 weeks with zero communication from PFS. Finally, got through to PFS directly. Was then told that even though I had paid the settlement figure which they had calculated, the HP agreement was actually not closed out. Worse still, I owed them additional money because they had miscalculated the final settlement figure by a significant amount. I had to pay this additional money to clear the debt which was registered against me. I had paid what was originally asked 10 weeks previously, but somehow I was in the wrong because of THEIR miscalculation. I was immensely exasperated, disappointed and worried.

The financial problem which PFS created has now been satisfactorily resolved, but not without an official complaint, toing and froing, and severe stress on my part.

This episode has probably irrepairably ruined my experience of the Porsche brand. It leaves a very sour taste in my mouth and I will certainly question my involvement with the marque in the future.

Anyone else ever find themselves in a similar quandary to this when financing a Porsche. :?:
 
Volkswagen Financial Services (UK) Limited trading as Porsche Financial Services is regulated by the Financial Conduct Authority, so you have them and the Financial Ombudsman Service on your side. If VWFS don't resolve your complaint to your satisfaction write a letter to the FOS - some useful info here: https://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

When dealing with the FOS it'll help to have events written down chronologically in date order, with who said / did what and when, tying together with any evidence you may have such as emails will be useful too

Good luck :thumb:
 
Roro said:
Volkswagen Financial Services (UK) Limited trading as Porsche Financial Services is regulated by the Financial Conduct Authority, so you have them and the Financial Ombudsman Service on your side. If VWFS don't resolve your complaint to your satisfaction write a letter to the FOS - some useful info here: https://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

When dealing with the FOS it'll help to have events written down chronologically in date order, with who said / did what and when, tying together with any evidence you may have such as emails will be useful too

Good luck :thumb:
Thanks.

Eventually did get the situation resolved after all sorts of conversations and pushing at both PFS and the OPC. Got refunded the over-payment that I was requested to make and profuse apologies.

Just a very frustrating and sapping experience, and in my mind anyway, has shown a significant weakness in how Porsche UK, under its many different guises and branches, interfaces with the end customer.
 
All finance companies are horrible once you're in an agreement, unless you just play along for the entire term.

My Dad died shortly after buying a Discovery, financed via Close Brothers (not sure if this was through the dealership or did it himself.)

Long story short, they accused my late father of fraud, saying he took the finance knowing he wouldn't be able to complete the contract (he had cancer, so who knew how long he had.....)
I simply requested they move the finance into my Mums name, she was more than good for it credit worthy wise. Refused, said they were going to take the car back. Bearing in mind having paid a large deposit, this would be a massive win for them, and loss for us. I ended up parking it out of sight at my house while it took 3 weeks to resolve. Not fun.

Seperately, I financed a 911 Turbo with Clydesdale Bank after a recommendation on here. Car turned out to be a lemon, so had to reject it. Bank did everything to ignore and deflect, long story short again, after 2 years of battling, the Ombudsman found in my favour, I got almost all monies paid back for it (they seemed to think you could insure a 911 Turbo parked on the drive 'without' a tracker??!!).

Two years of battling, two years of the car being sat on my drive doing nothing because it was dangerous to drive (because of the fault, not its performance that is :grin: ) . I had to trailer it to the OPC to keep it in line with maintenance (Part of the financial contract).

So a very long story short, yes you have Ombudsman protection, but it takes years to get it consdiered, and even then theres no garauntee you'll get everything back.

Finance companies suck....
 
Been with them many times, nothing bad to comment apart from a slightly higher APR.
 

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