Wanted to see if anyone had any experience or knew about a very odd leasing experience with Porsche that my friend dealt with.
He returned a 2 year old Cayenne lease early to lease a Macan. They willing took the Cayenne early to put him into a Macan. They were somewhat embarrassed to share the price being it was more than his Cayenne payment. So this is were the weirdness starts. They sold him the car, had him return it, and then leased it back to him as a used car. He signed the docs, had a lease agreement, and left the dealership. He had the car for 3 days, drove it some, then the Porsche dealership called and said they needed to come pick the car up. Their excuse, it was a 39 month lease and their only option was to lease it at 36 months. AND at 36 months it would cost them 15K upfront. They took the car AND returned the Cayenne that they traded in/took back. What the hell just happened???
Is it just me or has this ever happened to anyone before. He’s both furious and confused to how this happened. He had a SIGNED lease agreement and they violated it by taken the car back without a valid reason per the agreement. Does he have any recourse? Maybe get Porsche USA involved? Thanks for any info.
It means that the finance company approved the loan on the new car… if it funds its all good if it doesn’t fund then you have to start all over again… basically getting the deal approved.
I would be surprised if the lease agreement was missing that stipulation. If Porsche Financial denies the lease, the dealer must take the car back and unwind the deal. They also returned his cayenne since it was tied to the deal.
Am I reading this right? They sold him a NEW Macan as a purchase, immediately “bought it back” from him, and then leased it to him as used?
If that is the story, it is no wonder they took it back. Someone higher up got wind of that transaction and put a stop to it. May want to even check if that F&I person still works there.
There’s always some sort of clause that allows the dealer to weasel out of the deal, I’m not sure why people think otherwise. Now if the consumer wants to weasel out, you’re hosed
'm looking for any terms in the lease contract with similar verbiage and found nothing. There is a statement that says the lease will be transferred to Porsche Leasing LTD, and all the ways that the lessor can take the car away if the lessee is in “default.” Default meaning a whole plethora of things the Lessee can do wrong. But this is one the dealer, and from what I read I can’t see them having any excuse to break the contract. I do understand it does need to be ultimately financed by Porsche, just cant seem to find an explanation on this contract that allows them to void it.
In CA, its stated there is not a 3 day cooling period on the contract. And I’m not sure if the 15K was an actual figure, just one they spewed off so they would give up the car.
Hahaha, thanks. But it really isn’t me. I’ve been dealing with Porsche Financial these days on a different accord (buying out a lease to sell privately).
It’s actually my friend and his wife. They’re from the millennial generation (hopefully I dont offend too many of you) and when they told me this happened I was a bit shocked. I’m a “principle” guy and wanted to step in to help them out cause they were just going to chalk it up to being bad luck.
I’ve had some experience in contracts and a whole lot in leasing cars for myself and why this one was really confusing me.
That’s why I was thinking as well. Some hokey pokey shenanigans that didn’t make sense to me. In the docs he did obtain, it had a Bill of Sale for a Used car to them and a Used car disclosure when the car was brand new. But was ultimately a lease.
