The “Welcome to Porsche” Program continues to support your sales efforts on New MY16/17 911, MY16 Panamera, Boxster and Cayman vehicles and now the program has been enhanced to include MY16 Cayenne vehicles.
The Program Includes:
• Up to $1,500 individual payment credit
• Up to $4,500 total credit
• Competitive lease agreement must be within 180 days of maturity date OR proof of competitive lease
payoff must be remitted by Porsche dealer
Contracts dated on or between April 1, 2016 – June 30, 2016.
Customers currently leasing a competitive vehicle (contracted as New or Demo) who lease or finance an eligible new MY16/17 911, MY16 Panamera, Boxster, Cayman or Cayenne model will receive a “Welcome to Porsche” Credit equivalent to the value of up to 3 payments (at a maximum of $1,500/payment) based on their existing competitive lease.
“Welcome to Porsche” Credit Calculation
For the purposes of this program, it is assumed that payments on a customer’s existing lease are paid on their due date (regardless of actual timing). As illustrated in the table below, compare the PFS contract date to the number of days remaining
to maturity of the competitive lease to determine the number of earned payment credits.
*Competitive lease agreements which are 181 days or more from the maturity date are ineligible for the program without proof of Porsche dealer payoff of the competitive lease.
All new, untitled MY16/17 911, MY16 Panamera, Boxster, Cayman and Cayenne vehicles which meet the standard PFS vehicle eligibility requirements as applicable and the specific vehicle eligibility equirements of the finance or lease program utilized.
Customers with a currently active competitive (non-Porsche of any make) lease contracted as a new or demo vehicle (as detailed by their existing lease agreement). To be considered active, the customer must have at least one payment due as of the contract date for the eligible new Porsche model. Active status is determined by the PFS contract date being greater than 30 days from the original maturity date of the competitive lease. Competitive leases that have been extended beyond the original maturity date are not eligible. Payoff, trade-in, or return of the existing competitive lease is not required except if the competitive lease is 181 days or more from the maturity date. However, current PFS credit guidelines apply as applicable to each transaction. Competitive single pay leases are eligible. The amount of the monthly payment credit is calculated by taking the single pay payment amount divided by the term of the competitive lease agreement (maximum of $1,500/payment).
Customer Eligibility Documentation Requirements
- Any of the following: Copy (front) of existing competitive lease agreement, current billing statement, or other documentation
deemed acceptable by PFS; and
- Copy of current (unexpired) vehicle registration; or current (unexpired) vehicle insurance card; and
- If 181 days or more from the maturity date: Copy of Porsche dealer payoff check, wire transfer confirmation, or other proof of
Porsche dealer payoff documentation deemed acceptable by PFS
The above documents must be aligned with respect to the vehicle and customer.
Transferability and Other “Welcome to Porsche” Credit Parameters
The “Welcome to Porsche” Conquest Lease Program benefits are not transferable (i.e. it’s restricted to the party documented on the existing competitive lease). Customers whose existing lease was in a business name (where they are not listed on the lease) who want the Porsche contract to be in an individual’s name (or vice versa) can do so as long as appropriate documentation (as
deemed by PFS) is provided detailing the association.
The Credit cannot be redeemed for cash, split or combined. Each qualifying competitive lease is valid for one Credit (as determined by the program guidelines). Once a competitive lease is used to claim a Welcome to Porsche Credit, the competitive lease is no longer eligible for future claims. Only one Credit allowed per eligible PFS contract.
PFS Program Compatibility
Please refer to the specific Program/Sales Support Bulletin for compatibility details.
The dealer is responsible for communicating the Program to their customer; therefore, please ensure that the Program is communicated in a consistent and non-discriminatory manner.
1) Disclose the Credit (as a Manufacturer’s Rebate) in its entirety on the PFS finance/lease contract and the Bill of Sale.
-Retail Finance contracts: disclose on the Manufacturer’s Rebate line of the Down payment section.
-Lease Agreements: disclose entire amount as part of the “Capitalized Cost Reduction” (7.A.1 and 8.B) with a corresponding amount detailed in “How the Amount Due at Lease Signing will be Paid” under Rebates and Noncash Credits (7.B.2).
2) A program claim form (see attached) signed by the customer and dealer is required.
3) The Customer Eligibility documentation (as detailed in this notice) is required.
For each eligible contract, the dealer must submit the program claim form in this Bulletin, the Customer Eligibility Documentation and Competitive Lease Proof of Porsche Dealer Payoff (if the competitive lease is 181 days or more from the maturity date) with the PFS funding package. Funding packages submitted without this required documentation will not be eligible for reimbursement.
Note: Failure to properly disclose the Credit and/or provide the appropriate documentation will result in the claim not being reimbursed and/or the contract not being funded.
Validated claims will be reimbursed in the subsequent month.
Other Program Parameters
PFS reserves the right to amend or terminate the Program at its sole discretion. PFS’ decision is final in all matters regarding the Program.
Dealer compliance with the terms and conditions of the “Welcome to Porsche” Conquest Lease Program is subject to audit by PFS or its designee. Situations failing to meet the Program Guidelines as determined by such an audit or otherwise will result in a chargeback to the dealer.