Lease Pay-off

benami313

Pardon me if this is the wrong spot to ask this, but has anyone ever reached the end of their lease, expecting to pay a token purchase amount (10%) only to be hit by more eyegouging? the lease contract clearly states fair market value not to exceed 10% of original purchase price, which comes to about $1500, and they are asking for $3500??? What do I do? Call a lawyer?

Jaeb

Yes
I bet I can name the lease company. If you go back to the start you most likely also have a 2 -3 payment deposit your owed that you must ask or they will keep. Try to talk with them I know its customer no service but ask for a owner or vp or yes go see a lawyer and pay for a letter. Thanks, Eric

flcc4409

I bet I can name the lease company too. Those guys do not keep their word and are underhanded cheats. Not much you can do. If you call a lawyer they will fight back and you will end up spending more on legal fees than the machine is worth. I saw it happen to a friend in the industry.

madrod

or you can take them to small claims court. they are not allowed a lawyer there and you can represent yourself.

benami313

OMG! Thanks. When I quoted the terms of the original lease to them, they just stopped talking to me.

DASWholesale

You may try this as an option. Send a certified check for 10% by registered mail. Make sure that the check has notation that this is the 10% buy-out per lease #xxx PAID IN FULL. This does not guarantee that they will not try to repo the machine, but it does give you some standing with the court should they try to get a summary judgement. Remember, possession is 9/10th's of the law! Once they cash your check, they make it harder to obtain a judgement.

Gabriel

what is the company you are talking about?

benami313

I just don't want to say who. One of the major ones.

majcne

But, you could be helping others not get waxed by them if you tell who it is.

benami313

Well, I got some help from within the company, and we have a worked out a fair, and satisfactory outcome.