Porsche Financial Services, Inc. — Local services in Atlanta

I am A title clerk for a Porsche dealership, Grand Prix Motors. We handle a lot of payoffs with Porsche Financial Services, and they have been a nightmare to work with in the PAYOFF department. Getting a title after paying off a vehicle is extremely difficult, and it takes 5 follow ups to finally release a title to our dealership. Many times we had came across many issues, such as the bank finally releasing a title, after 5 months of paying off the vehicle and following up about it regularly. I have called about 5 times to follow up, and each time I would get a different answer from a customer service representative, some even saying that it was already released when it was not. Finally, after providing our FEDEX account number, and asking them to release the title to us via overnight shipping, 5 months after paying the vehicle off and calling, (each call takes about 30 minutes) regularly, they finally released the title to a completely wrong address, that wasn't even the same customer that we purchased the vehicle from. Meanwhile, we sold this vehicle to a customer and we can not register the vehicle from him because Porsche Financial Services will not do their job and release a title to us. Now our customer can not drive his vehicle because his temporary trip permit had expired that we issued him, and his state does not have an extension on trip permits. Not only this, but his state also charges late fees on the registration that we will have to pay, because we are responsible for registering his vehicle. In addition, he also has a lienholder that we cant record without registering the vehicle. We have penalties in every direction because of their mistakes, and our customer is very angry with his late registration that we are responsible even though this mistake is not our fault. It can take another 6-12 weeks to get a duplicate title. I have called and asked to speak to a manager, and they wont even put me on the line with someone that can help me out. These type of errors have been more than less common when working with the payoff department of Porsche Financial Services. It is extremely frustrating, and draining to work with Porsche Financial Services. We are a Porsche dealership, and we cant control who the previous owners finance their car with, but each time we have to submit a payoff to Porsche Financial Services we expect to have a rough process due to previous experiences. We would...

Please do NOT use these people. When I bought my cayenne, I was LAZY and it was a weekend so I went with these crooks. I had previously financed through Toyota in the past and they were so excellent that I thought maybe this will be the same. WRONG WRONG WRONG. They have the worst customer service and they have shady business practices. Each time you overpay (like extra on top of the monthly payment), it goes to a "credit piggy bank" that doesn't actually apply itself to the principal amount. You have to call them for these payments to go to the principal and while you think it is going to the principal - it isn't - it is also going to interest! When I told them to please flag my account and make sure that any and all overpayments were put towards the principal - they told me that they could not and that these extra payments go to a "credit account line" that they use just in case someone doesn't make their monthly payments and they take it out of this account line. I was flabbergasted to say the least. I have never heard of a financial institution do this - not even the most corrupt horrible credit card companies (I'm calling you out bank of America and chase) do this. I am now on hold for my bank so I can finally just get rid of this poor excuse of a...

I agree with all the one star reviews. I have been working at a Porsche car dealership, and we have a lot of payoffs that we send to Porsche Financial Services regularly. Absolutely horrible horrible customer service. Its been like this for years of me working with them and nothing has changed. When you call for an update, after being on hold for a long long time, and then being transferred 5 different times from one person to the next, because nobody wants to do their job, you finally get ahold of someone that cant even figure out what is going on. I have dealt with so many lost titles with this bank, and the worst part is that they don't even help you with the replacement titles, they just leave you in the dark and your stuck figuring out what is happening on their end and solving their problems because they don't do anything. It is a nightmare, if I can rate them id give them a 0.8/5 out of five starts after working with them for so many years. Its sad too see they never improve or correct themselves as a business when so many complains were already filed against them. Nothing has gotten better with this bank. Getting a title to a vehicle after you pay it off is a nightmare. Good luck to you guys that work with this bank, they make me want to rip...