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Porsche Financial Services Leases Overcharge Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

Porsche Financial Services, Inc. is settling a class action alleging it accepted standard-form motor vehicle lease agreements in Florida that overcharged lessees for rent and taxis on their single-payment leases. The complaint alleged the agreements did not use the lessee’s trade-in value as a Capitalized Cost Reduction (similar to a down payment) to reduce the cost of the consumers’ leases, which it claims is a violation of the Florida Unfair and Deceptive Trade Practices Act (FDUTPA).

Docket Number:

1:16-cv-23409-Gayles

Company: Porsche Financial Services, Inc.

Filing Deadline: January 1, 2100

Class Period: August 8, 2012

Objection Deadline: October 14, 2021

Exclusion Deadline: October 14, 2021

Final Approval Hearing: October 28, 2021

Proof of Purchase:

No proof is requested and you do not need to submit a claim form. Presumably company records will be used to identify class members.

Eligibility:

You may be eligible if you entered into a single-payment vehicle lease with a Florida Porsche dealer with the standard form Porsche Financial Services Motor Vehicle Lease Agreement, assigned to Porsche Financial Services, and if you traded in a vehicle with a positive monetary value that was not credited as a Capitalized Cost Reduction. Your lease must either be outstanding or terminated within four years before the filing of this action on August 8, 2016.

Typical Settlement Amount:

Benefit: 100% of your overcharge. Payments will range from $254.29 to $13,465.55, and average $3,985.22, depending on the terms of your lease agreement, including the equity of your trade-in vehicle.

Total Settlement Amount: $298,891.34 for the Class Benefit; additional for attorneys and settlement costs

Class Representative Proposed Incentive Fee:

Unknown

Law Firms:
Cory Watson PC
Weil Snyder & Ravindran, PA

Case Name: Cox v. Porsche Financial Services, Inc.

Settlement Website: Porsche Financial Services Leases Overcharge Settlement Website

Claims Administrator:
Tilghman & Co., PC

Claims Administrator Contact Information:

Tilghman & Co., P.C.
PFS Litigation
P.O. Box 11487
Birmingham, Alabama 35202-1487

Tags: Automobile or Similar Vehicle, Leased Vehicles, Unfair Lease Payments