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Porsche Finance will work it all out with him. Basically what you do is write your full cheque to Porsche Finance then and he will sign over the ownership of the car. They will instruct the seller what to do so that you can get the car and a lein release letter from him at the time of the transaction. Likely he will have to pay the difference first then receive the cheque from you and have to send it to PF to have it cleared.
Either way PF will tell you what to do and how to handle it. I'll bet they even have paperwork you could get or buy for this type of thing.
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