Porsche UK reneging on finance deals
Discussion
I currently own a 992 Carrera S.
I decided to order as my next car a Carrera 4 GTS I configured the car, agreed & signed a finance deal at 6.9% apr & paid my deposit in April 2022.
The build slot was for December 2022. After a one month delay my car was delivered to UK this week, the dealership called to inform me that the deal I had signed would not be honoured & I would now have to pay 10.9% apr if I wanted the car or I could have my deposit back.
Porsche UK I have lost all respect. If I had reneged on the deal I would have lost my deposit.
Porsche renege on a deal & think there are no consequences.
My dealership informed me they have had 10 canceled orders this week. this is not the way to treat customers.
I decided to order as my next car a Carrera 4 GTS I configured the car, agreed & signed a finance deal at 6.9% apr & paid my deposit in April 2022.
The build slot was for December 2022. After a one month delay my car was delivered to UK this week, the dealership called to inform me that the deal I had signed would not be honoured & I would now have to pay 10.9% apr if I wanted the car or I could have my deposit back.
Porsche UK I have lost all respect. If I had reneged on the deal I would have lost my deposit.
Porsche renege on a deal & think there are no consequences.
My dealership informed me they have had 10 canceled orders this week. this is not the way to treat customers.
I ordered a GR86 in April '22 and the finance deal was 4.9% at the time, which I opted for. Car was delivered in December, and I had to be reproposed for the finance as since six months has lapsed, but Toyota honoured the orignal rate despite all other new car rates increasing well above 4.9%.
David-kf8i2 said:
I currently own a 992 Carrera S.
I decided to order as my next car a Carrera 4 GTS I configured the car, agreed & signed a finance deal at 6.9% apr & paid my deposit in April 2022.
The build slot was for December 2022. After a one month delay my car was delivered to UK this week, the dealership called to inform me that the deal I had signed would not be honoured & I would now have to pay 10.9% apr if I wanted the car or I could have my deposit back.
Porsche UK I have lost all respect. If I had reneged on the deal I would have lost my deposit.
Porsche renege on a deal & think there are no consequences.
My dealership informed me they have had 10 canceled orders this week. this is not the way to treat customers.
It’s just not feasible to expect firms to guarantee finance terms 9+ months into the future.I decided to order as my next car a Carrera 4 GTS I configured the car, agreed & signed a finance deal at 6.9% apr & paid my deposit in April 2022.
The build slot was for December 2022. After a one month delay my car was delivered to UK this week, the dealership called to inform me that the deal I had signed would not be honoured & I would now have to pay 10.9% apr if I wanted the car or I could have my deposit back.
Porsche UK I have lost all respect. If I had reneged on the deal I would have lost my deposit.
Porsche renege on a deal & think there are no consequences.
My dealership informed me they have had 10 canceled orders this week. this is not the way to treat customers.
Porsche Financial Services is actually VW Financial Services. I would have thought the dealership have the finance rates dictated to them by VWFS who are the money lenders, I can’t imagine there’s much they can do.
Although you placed an order and a deposit back in April, you only pay for and take ownership upon delivery/collection so your finance rates are only ever going to be the rate at the point you buy the car. It’s just unfortunate for you of what’s happened with interest since then.
There will be a lot of people no longer wanting their cars at these rates so perhaps there could be a few cars on the forecourts and a discount to be had again soon!
Although you placed an order and a deposit back in April, you only pay for and take ownership upon delivery/collection so your finance rates are only ever going to be the rate at the point you buy the car. It’s just unfortunate for you of what’s happened with interest since then.
There will be a lot of people no longer wanting their cars at these rates so perhaps there could be a few cars on the forecourts and a discount to be had again soon!
t. Given that a new car is never going to arrive next week.Sport_Turismo_GTS said:
David-kf8i2 said:
I currently own a 992 Carrera S.
I decided to order as my next car a Carrera 4 GTS I configured the car, agreed & signed a finance deal at 6.9% apr & paid my deposit in April 2022.
The build slot was for December 2022. After a one month delay my car was delivered to UK this week, the dealership called to inform me that the deal I had signed would not be honoured & I would now have to pay 10.9% apr if I wanted the car or I could have my deposit back.
Porsche UK I have lost all respect. If I had reneged on the deal I would have lost my deposit.
Porsche renege on a deal & think there are no consequences.
My dealership informed me they have had 10 canceled orders this week. this is not the way to treat customers.
It’s just not feasible to expect firms to guarantee finance terms 9+ months into the future.I decided to order as my next car a Carrera 4 GTS I configured the car, agreed & signed a finance deal at 6.9% apr & paid my deposit in April 2022.
The build slot was for December 2022. After a one month delay my car was delivered to UK this week, the dealership called to inform me that the deal I had signed would not be honoured & I would now have to pay 10.9% apr if I wanted the car or I could have my deposit back.
Porsche UK I have lost all respect. If I had reneged on the deal I would have lost my deposit.
Porsche renege on a deal & think there are no consequences.
My dealership informed me they have had 10 canceled orders this week. this is not the way to treat customers.
If they did we would just go elsewhere for finance. You have the same option for your Porsche.
10.9% on (I’m guessing) a 130k car, blimey.
Pretty poor form from Porsche on that. There’s no way in my mind that this won’t cause a hefty correction with everything else going on. Prices are currently being supported by supply issues but that’s improving.
I’d base my decision to walk away on that, more than the change in monthlies/poor behaviour from Porsche.
Pretty poor form from Porsche on that. There’s no way in my mind that this won’t cause a hefty correction with everything else going on. Prices are currently being supported by supply issues but that’s improving.
I’d base my decision to walk away on that, more than the change in monthlies/poor behaviour from Porsche.
Porsche is a huge global brand/company and like any other company or financial institution they could have mitigated the risk . They knew how much exposure they would have lending at those rate its hardly an unknown. Even if the OP and others never actually took that finance they could sell it to other customers or doing what they re doing here and making another 4%
MB140 said:
Why not my wife ordered a Toyota Hilux invincible x on 0% about 14 months ago. Picks it up in two weeks. Spoke to the salesman last week, the deal is being honoured. Although I admit it’s not been collected yet but the dealership are adamant Toyota will honour the deal and I haven’t heard of them reneging on any pre approved finance deals yet.
If they did we would just go elsewhere for finance. You have the same option for your Porsche.
Same situation exactly for my Ford Ranger Wildtrack 0% deal approved over a year ago. My Ford sales guy told my last August that VW were reneging on all pre-approved low rate finance deals so it seems to be a corporate decision which Porsche have no control over.If they did we would just go elsewhere for finance. You have the same option for your Porsche.
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