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DRZ911
Barcelona


Joined: 13 Mar 2013
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PostPosted: Wed Mar 13, 2019 8:48 pm    Post subject: Porsche Financial Services Reply with quote

Anyone have any opinions or experience of Porsche Financial Services (trading as VW Financial Services) to fund their vehicle. Question
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1997 Porsche 993 Carrera 2

PostPosted: Wed Mar 13, 2019 8:54 pm    Post subject: Reply with quote

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
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askgeez
Barcelona


Joined: 05 Apr 2015
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PostPosted: Thu Mar 14, 2019 6:36 am    Post subject: Reply with quote

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
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DRZ911
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PostPosted: Thu Mar 14, 2019 7:37 pm    Post subject: Reply with quote

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. Question
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Roro
Long Beach


Joined: 01 Oct 2010
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PostPosted: Thu Mar 14, 2019 9:11 pm    Post subject: Reply with quote

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
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DRZ911
Barcelona


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Location: Belfast


PostPosted: Fri Mar 15, 2019 11:07 am    Post subject: Reply with quote

Roro wrote:
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.
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