ComplaintsforPorsche Financial Services
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
03/12/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
On Jan. 31, 2024 I *****************************, went to Porsche Perimeter *** location to obtain a lease buyout for a 2021 Porsche Taycan 4s I purchased in December 23, 2020 from the same dealership new. My lease was set to end in March 2024 so I decided to just purchase the vehicle. Since I had been with Porsche Financial for 3 years I wanted to just stay with the company. While doing paperwork with Porsche Perimeter financial advisor I was given an 8.6% interest which was pretty high for my credit score range. I continued paperwork, but went to shop around that same day for a better rate. The financial advisor at Porsche advised me that the payoff wouldn't be instantly, so I went to Navy Federal the following day to do a loan with them instead, and they offered me a lower rate. I instantly received a $******.00 check from the bank to pay off the vehicle. I called Porsche Financial and they advised me to mail the check directly to them and not to take it to the ATL location. I mailed the check on Feb 3. to Porsche Fin. and found out on Mar. 8th that they didn't cancel out the *** loan. So I currently have two loans that are expecting payment on March 18th from *** (which is the bank Porsche used to finance my car) and Navy Federal who I obtained the check from to bank with instead. On March 8th while trying to obtain tags the lien holder is *** not Navy Federal so I contacted ***. ***, stated my loan was still active with them. On this same day I contacted Porsche Fin. to see who paid my car off & they told me Dealer Track on Feb. 6, 2024. So my question to the advisor was where is my ****** check if someone else paid them off already. I have been getting the run around and no solutions to this issue. Porsche Financial has allowed *** to pay off my $57,721.04 loan on Feb. 6 and has also cashed my check for ****** on Feb 14 per Navy Federal and hasn't returned the money. I found this out Mar. 12th while trying to get Navy to stop payment on the check. No one contacted me!Business response
03/22/2024
Porsche Financial Services has communicated with the consumer and has resolved the issue.Initial Complaint
02/02/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
PORSCHE FINANCIAL SERVICES Amount:$208862 DateOpened:1/19/2024 Acct#********** Please DELETE the fraud Account from my credit Report does not relate to any transactions that I have made.The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .According to 15 USC 168i(15) the credit bureaus have to modify or Delete fraud Account that are not reporting accurately. According to 15 USC ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 168s- 2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate .(B) Reporting information after notice and confirmation of errors According to 15 USC **** I have the right to privacy According to 15 USC ****s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.(B) Reporting Information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.Business response
02/09/2024
Porsche Financial Services is investigating this issue.Initial Complaint
11/01/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
Acct Name: ********************************************* SRVC Amount: $51781 Date Opened: 6/10/2023Acct# ********** Please DELETE the fraud fraud Account from my credit Report does not relate to any transactions that I have made.The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .According to 15 USC 168i(15) the credit bureaus have to modify or Delete fraud Account that are not reporting accurately. According to 15 USC ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 168s-2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate .(B) Reporting information after notice and confirmation of errors According to 15 USC **** I have the right to privacy According to 15 USC ****s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.(B) Reporting Information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.Business response
11/16/2023
Porsche Financial Services has communicated with the consumer and considers this complaint closed, although the consumer is welcome to contact us to discuss the issue in further detail.Initial Complaint
10/05/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
Acct Name: ********************************************* SRVCS Amount:$26931 Date Opened:9/9/2023Account Number: ********** The credit bureaus keep disrespecting the law . I have showed them multiple times how they are violating the FAIR CREDIT REPORTING ACT .According to 15 USC 168i(15) the credit bureaus have to modify or delete account that are not reporting accurately. According to 15 USC ****b(1) the credit bureaus dont have no written permission According to 15 USC **** have the right to privacy According to 15 USC 168s-2 A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate .(B) Reporting information after notice and confirmation of errors According to 15 USC **** I have the right to privacy According to 15 USC ****s-2 A person shall not furnish any information relating to a consumer to any any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.(B) Reporting Information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency (i) The person has been notified by the consumer, at the address specified by the person for such Notices, that specifies information inaccurate, and (ii) the information is, in, fact, inaccurate. The credit bureaus have no respect for the laws.Someone needs to hold them accountable for this.Business response
10/17/2023
Porsche Financial Services has communicated with the consumer and considers this complaint closed, although the consumer is welcome to contact us to discuss the issue in further detail.Initial Complaint
07/28/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I began paying my account with Porsche Financial Services, in August 2022, after picking up the vehicle from ******************* on July 23, 2022. The *** representative argued with me, stating I began paying for my Cayenne on July 23, 2022. I kept informing her this was the delivery date of the vehicle. I decided to pay over my monthly lease payment in January 2023, which the *** app reflected that I did not have a payment in **** 2023. I received an email today stating my account is delinquent and to contact *** immediately. I went on the Porsche app to review my account, and it reflected two payments due by August 23, 2023. However, the *** representative informed me that I was past due for **** and July 2023, and my account is 35 days past due. I was devastated. She told me I would be reported to the credit bureaus and left on the call for one hour and 13 minutes, taking me away from patient care. A portion of this time was spent reviewing my account with an "upper department" to calculate my overpayments, who conveniently reported fault in me. I am a doctor trying to treat my patients and disputing nonsense. I requested to speak to a conveniently unavailable supervisor. At this point, I want to return the car and end the lease. I can pay cash for a Lexus and be just as happy since Porsche wants to ruin my credit. I practically begged *** not to report me as 30 days past due to the credit bureaus. The *** representative told me to file a dispute with a supervisor I could not speak to today.Business response
08/10/2023
Porsche Financial Services has communicated with the consumer and has resolved the issue.Initial Complaint
07/19/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have no knowledge of this account appearing on my credit report, this tradeline is in charge off status, I spoke to said company and asked for a ****-C because of the charge off status. In an attempt to remedy this inaccurate, falsely reported account on my credit report I asked for a ****-C proving that they have been paid by insurance and this item needed to be deleted from my credit report in which said company refused both the removal of this erroneous, inaccurate tradeline and refused to provide me with the ****-C which is required to be provided by law.Business response
07/27/2023
Porsche Financial Services has communicated with the consumer and considers this complaint closed, although the consumer is welcome to contact us to discuss the issue in further detail.Initial Complaint
07/13/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
Porsche Financial utilizes an automated software that allows for autopay. I had set up my account and the system said it was accepted. I then had to leave on a business trip to Korea where I had no phone and no mail. The payment system had an error in which it told me it worked but hadnt. The payment was missed and porsche reported this to my credit. My score dropped by nearly 100 points because of this. I have never had a miss payment in my entire credit history. I of course called and immediately made the account current and asked for a one time exception to remove the mistake from my credit. Of course they refused and denied any issues with their system. However I then called and spoke to a supervisor and was able to walk her thru the setup and videoed it showing an accepted then minutes later a failure again. ( I have photo proof of this) she apologized for the system and manually reset my account to do auto pay. Since then it has worked again with no missed payments. However they refuse to correct my account due to their error. This is now making it difficult for me to make a home purchase as my score is still over 100 points lower. I have submitted the error photos as well as they can pull the recorded voice call from Fri Nov 11 2022 at 4:58 pm. Please make note of the time in the photo with the car. As it also reflect this exact moment on the phone with their supervisor.Business response
07/24/2023
Porsche Financial Services has communicated with the consumer and considers this complaint closed, although the consumer is welcome to contact us to discuss the issue in further detail.Customer response
07/24/2023
Complaint: 20319294
I am rejecting this response because: Porsche Financial refuses to admit fault on their part of their systems. Porsche feels no obligation to take responsibility for their computer systems and the faulty api call. If this matter is not corrected; my next steps will be to move to legal actions against. Porsche Financial for damages not only to my credit but losses for the increase in costs of financing as well as lost opportunities for investments.
Sincerely,
*****************Initial Complaint
02/20/2023
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
In November of 2022 my wife and I purchased a new Porsche from Porsche South ****** and obtained financing through Porsche Financial to take delivery of the vehicle. The terms of the loan were not as favorable as I had hoped so I refinanced the loan through another financial institution in early December. The other financial institutions sent two cashiers checks to Porsche totaling the entire payoff of the loan. At that point I stoped the ach payments I had set up on Porsche financials web site. On December 22nd porsche financial withdrew a payment from my checking account even though the loan had been paid in full. After doing some investigation I discovered that both cashiers check had been cashed on December 12th but only one had been credited to my account. I contacted Porsche financial on January 3rd and notified them of the error and provided copies of the cashed cashiers checks as proof of the full payoff amount. After two additional phone calls of the the next two weeks I was told that they had applied the missing payment to my account and would be releasing the title and sending me a refund. After some time and not receiving the refund I called Porsche financial the week of January 6th and was told the check went out on January 6th. I called this morning and asked to speak to a supervisor and was denied and told that no one was available and someone would get back to me. They have had possession of my $3,310.77 for nearly 2 months and being unable to speak with anyone in authority to resolve the issue. I expect at this point to receive my money by overnight courier with interest and compensation for my time trouble.Business response
03/01/2023
Porsche Financial Services has communicated with the consumer and has resolved the issue.Initial Complaint
02/10/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I made a payment in October that was never reflected on my account with them. My bank confirmed the payment and so did the financial portal they use to process payments. The money still has not been returned/applied to my account or even been accounted for and I have reached out multiple times and have been told something will contact me and every week I contact them and nothing has been resolved and no efforts have been made on their end.Business response
02/24/2023
Porsche Financial Services has communicated with the consumer and has resolved the issue.Initial Complaint
12/29/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
Porsche Financial Services has owed my $350.00 since Nov. 16 2022 when they were overpaid $350.00 on a loan payoff. I contacted them by email 6 weeks later & received no response. Today on Dec. 29 I spoke by phone with one of their customer service representatives & was told they would mail me a check sometime after Jan. 13, 2023 when their employees return to work. They feel it is totally acceptable to sit on my hard earned money for 2 months. I asked to speak with a manager & was told one was not available.Business response
01/05/2023
Porsche Financial Services has communicated with the consumer and has resolved the issue.Customer response
01/06/2023
Complaint: 18659018
I am rejecting this response because: I have received a phone call only stating someone will reach out to the proper department & try to rush the process so I receive my check at an earlier date. She was very nice but until I receive a check the issue is not resolved. It's been 2 months.
Sincerely,
***************************Business response
01/25/2023
Porsche Financial Services has communicated with the consumer and has resolved the issue.Customer response
01/25/2023
Complaint: 18659018
I am rejecting this response because: It took them over 2 months to refund the money which they acknowledged they owed me a month earlier. They sat on my money & had use of it without paying me any type of interest. I will never do business again with Porsche Financial.
Sincerely,
***************************
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Customer Complaints Summary
23 total complaints in the last 3 years.
7 complaints closed in the last 12 months.