Just got off the phone with PFS and was very disappointed in their service, almost rude. Had asked about negotiating a better residual and possible keeping the car, but they were firm in saying Non-negotiable! Has anyone had better luck.
I like the car and would consider keeping it, but given the poor market, it seems 61% residual after 36Mo is a little steep

 

With PFS it might be tough to reason with them on the first few calls. Wait it out and try another call in a week or two as clearly they are not in touch with the car market.

 

I tried the same thing a while back with Audi and they were completely uninterested in any sort of negotiation. In the past, it was a completely different story and it was easy to renegotiate the purchase price below the residual. It seems like now they would all rather take the loss at auction rather than sell it to the original lessee.

It makes wonder if it is just different cost centers and the "lease cost center" wants their numbers to look good by shifting the loss to the "lease resale cost center." Or maybe everyone just thinks they can CPO the lease returns, slap on an extended warranty, and offer low interest rates to get consumer to pay a premium on an undervalued asset.

You might be able to work something out with the dealer who will be accepting the lease return as they often have the right of first refusal on the car. Maybe they can take the car back, CPO it, and resell it to you at an acceptable price. Regardless, let us know what happens.

 

PFS used to have a program for dealers/customers called MVP ( market value pricing)
where they would offer the cars to dealers at market value to resell the car back to the customer in order to retain customers and avoid auction.
When I had the c4s, they told me the same crap, then once I mentioned the mvp, they offered the car to me at a lower price, but by then I had the turbo bug.

 

Great to know! Thanks Chris.

 

I had no luck negotiating with PFS on the end of my lease. They would not flinch at all.

 

don't they, meaning PFS, have some kind of insurance that guarantees them the residual when you turn the car in? I remember reading this somewhere. If this is the case, it would make sense for them to blow you off from dealing on the car.

 

The dealer told me that most leases have this insurance but I never confirmed for sure.

My lease is through Chase and if they want 61% on my car when I return it after 36 months with approximately 60,000 miles on it (48,000 and counting) then they can keep it.

If they are willing to negotiate then its another story.

I wonder what a 60,000 mile turbo would fetch at auction, lol.

 

wow! at least you got your money's worth!

 

I had the exact same experience last week. I had gotten a letter from them which started "To date, attempts to contact you by phone and mail have been unsuccessful. It is imperative that you contact us.....". They had never tried to contact me. I broached the residual issue and the guy I was talking to was rude. He didn't even want to hear from me only wanted to setup inspection. This was the worst customer relations I have ever experienced. If Porsche is really interested in "Brand" protection they need to take the Porsche name off PFS. I was seriously considering buying this car but now I'm not sure I want anything to do with Porsche period, especially if they support doing business this way.

 

The insurance you speak of would make sense, because there was no interest in negotiating or listening to any suggestion of such. They were just rude, quickly gave me the 3 options and basically told me to f myself.....horrible customer service. Porsche should be ashamed to be associated with whoever is backing this program. Idiots, no wonder they are losing Billions.

 

Does this have anything to do with VW's acqusition?

 

PFS does not negotiate residuals value. Other financial institutions such as Chase have been much easier to deal with in regards to helping you negotiate the residual value at maturity.

 

None at 60K miles, but...

 

Anytime I have to call PFS I feel like its 6 old ladies playing Bunko (spelling?) and I have interrupted them. They dont even have a website or online access. What kind of major auto finance company doesnt have this? BMW, Mercedes, Lexus, Toyota, etc...all got sites. We pay great money for a great car but clearly Porsche missed the boat on customer service in the current tech environment.

Sorry, I know it doesnt have to do with negotiating the residual but it shows how backwards they are. Clearly they could make/save money on their elevated residuals that were created pre the economical flop. So they sell their cars at the factory sale and write off a ton of money or have their residual insurance carrier raise the premiums. Why not up the price slightly and create customer satisfaction by giving us a deal? Throw in a favorable retail APR on refinance and they will have a customer for several more years.