Story in a nutshell..July 5th dealer confirmed the payoff on my 2007 carrera to be 81K and change. Deal done on the same day and car returned to dealer. My next automated payment with porsche financial was on July 11 so naturally i called my bank to stop all future automated payments from my ckg account on the fifth of July. The car, at present time has not been paid off and now receiving letter from porsche stating my payment overdue. Upon calling dealer i am being told they legally have 30 days to pay off my note with porsche. I gave them a certified check towards portion of negative equity of the car which was cashed immediately! When i call porsche financial, of course they tell me i am still responsible at this time. I do not want to damage my credit score , which after aug 11 i go over 30 days past due and will be reported to Credit bureau.
I don't think i should have to lay out more cash and make a payment b/c they want to hold cash. I understand thirty days from agreement is Aug 5 but that would be cutting to close for me to wait and possibly getting burned...Suggestions?

 

sorry this hear this shi* happened. i have turned in numerous cars and the dealer has always paid it off within few days. it's ridiculous that they are trying to make a profit from the interest.

i think when you trade the car in, there is always a piece of paper you signed that releases you from all liability. you also signed another document for the dealer to pay the car off. i would assume that based on these two documents, PFS has to let you off. it would appear that legally you are no longer responsible for the car.

hope things work out.

 

Do they not want your return business? Speak to the GSM.

 

wtf? that is totally messed up.

 

I say go down to the dealer and talk to manager... that's extremely unfair and since the car is in their possession you shouldn't legally have to pay for it

 

Ohh man that stinks Billy