An investment advisor disappointed by his lease-end negotiation process with Porsche Financial Services has created a web site to help consumers in similar situations.
Michael Corcelli launched GetYourCarBack.com to offer auction and pricing information to consumers whose leases are expiring.
Here’s how it works: You return your car at lease-end. For $100, you can use the site to track down the location and time your car will be auctioned. For another $1,000, you can hire an auction rep to buy the car back for you.
The rationale is that consumers will pay less for their vehicles at auction than they would if they paid the pre-set residual value.
