Porsche Car Payment Relief in Milwaukee, WI
Lenders and Auto Loan Relief Programs
The COVID-19 pandemic has reached Porsche customers in many different ways. The impact on personal well-being can be severe, and the widespread effects extend to personal finances. As many businesses close their doors, slash pay, and initiate mass layoffs, personal finances are increasingly stressed. You may no longer be in a position to make your Porsche loan or lease payments because of the severe effects of the pandemic. Porsche Financial Services has established relief options to help its customers through this unique and challenging time.
Porsche Financial Services
If you leased your car or SUV through Porsche Financial Services, you may request a term extension for up to six months. By extending the term on your lease, you can set up more affordable monthly payments. In addition to this option, you could request a lease payment deferral plan individually. Porsche Financial Services is granting deferments for up to 60 days upon request and to qualified individuals. Financial relief for auto loan payments must be requested directly by contacting the lender.
End of Lease Options
At the end of your Porsche lease, you have a few options under normal conditions. These options are to return your vehicle to the lender, to trade up to a newer model, and to make arrangements to pay off the residual balance so that you can take ownership of your vehicle. At the moment, these options may not be ideal or feasible for some customers. To explore other options that may be available, contact Porsche Financial Services directly.
Loan Deferment FAQs
What is a Porsche Loan or Lease Deferment?
If Porsche Financial Services approves your request for a lease or loan deferment, the lender will provide you with a defined deferment period as well as an extension to your loan’s or lease’s term. All payments that would have been due during the deferment period may be skipped without penalty, and they will be made up during the term extension period.
How Will a Porsche Lease or Loan Deferment Impact My Credit Score?
To avoid damage to your credit scores, you must formally set up a debt relief plan with Porsche Financial Services. If you miss payments without an approved debt relief plan in place, those missed payments can be reported to the credit bureaus and reflected in your credit scores.
How Do I Request a Porsche Loan Deferment?
Regardless of whether you are seeking a loan or lease relief, you must reach out to Porsche Financial Services directly. The best time to do so is before you miss a payment. This contact may be made by calling the lender’s customer service department or via online account services.