I've read some members have done this and I plan to do it as well. Anyone have any specific details? Dealers seem to be a little in the dark other than time frames.

General details:
- you must do another lease or purchase of a 2014-15 Porsche car
- There must be less than 12 payments remaining on existing lease
- Car must be new and never titled
- If purchasing you must use PFS to do the financing for a certain period of time

Specifically details/questions:
- How long specifically do I have have to financed with PFS (6 months?)? I'd like to use my CU and their 1.79% rate or pay cash at some point not long after the transaction.
- Do you have to 'ground' the existing leased car before or after getting the new one?
- Can you ground the existing car at a different dealership?
- Can I delay or postpone my next months payment until I do the new transaction if the dates don't correspond (payment due on first of month - new car not available until 5th of month)
- I don't suppose they can credit back a lease payment if you are indeed a few days late in getting the new car? Better to postpone payment??

Thanks in advance

 

Specifically details/questions:
- How long specifically do I have have to financed with PFS (6 months?)? I'd like to use my CU and their 1.79% rate or pay cash at some point not long after the transaction.

6 months and then you can switch

- Do you have to 'ground' the existing leased car before or after getting the new one?


Yes, you need to ground the current car and have the dealer fill out a grounding form that they send to PFS as proof for the pull ahead program.

- Can you ground the existing car at a different dealership?

Yes You can. If they give you problems call Porsche NA directly they will help you. I grounded my 13 991 in Dallas and bought my TT in LA and had it shipped to Dallas.

- Can I delay or postpone my next months payment until I do the new transaction if the dates don't correspond (payment due on first of month - new car not available until 5th of month)

Payment starts up to 45 days after purchase. Work with the dealer you are buying from.

- I don't suppose they can credit back a lease payment if you are indeed a few days late in getting the new car? Better to postpone payment??

No. They will pay the balance on the account if within the terms of the pull ahead program. I would still work with the dealer you are buying from, maybe they can show this in additional discount, product etc. They may tell you to pound sand.

 

Thanks for a the details!

One more clarification. I don't suppose I can ground the car locally before doing the new transaction at an out of town dealer? My lease payment is due on the first of March and I (or the new car) may not make to the dealership until the 4th or 5th of March. I guess I should cancel my March lease auto pay and let it float until I take ownership or work it out with the dealer. I just hate going in with an unknown to an out of town dealer, no matter what they promise. I do not want to make the March lease payment if at this point.

 

Do you have an active deal on another car? If so I would make sure you are down the path on an agreed upon deal and that dealer can help you with grounding the current car. If you can show proof of grounding the car in the next two days and buying the new one before march 1st then I would not make the payment.

 

Thanks very much - I have an active deal.

 

Good luck and keep us posted on the new ride

 

Spoke to dealer today. Car arrived via transport last night.

I'm trying to use the pull-ahead program to exit my current lease and pay off the new car as I need to reduce my recurring monthly payment to zero. He said I could finance the purchase of the new car at the best rate 2.49% (72 month) and have PFS hold the loan for one month. He said I could then pay it off after one month with no penalty. He can't find any thing that says otherwise. This would be ideal for me.

Do you have any documentation that shows the lease or purchase must be held by PFS for a min. of six months?

 

I can check my docs tomorrow. I'd call PFS to discuss, they are the ones sponsoring the pull ahead and get it in writing.

 

Thanks. I will give them a call.

 

Called PFS this am. They said no prepayment penalty and I can pay off the loan without waiting.

I do want to get it in writing however.

Thanks

 

Good to know.

 

This seems to make the program more attractive if you are buying - Pull ahead your lease, buy new car thru PFS rate and then refi with your own lender (after one payment) for less than 2% if you can get that rate.

Thanks for assistance info.