I too am like many other people out there who was promised great things from this company including the ease of voiding a lease, great customer service, etc.
Approximately 18 months ago, I was contacted by CIT. I had just opened a business and wanted to accept credit cards to increase sales. My bank was offering me a deal to purchase a machine for $900 and for a small transaction fee, all credit card payments would be deposited directly into our account.
When I was contacted by CIT, I was told I could lease one of their machines for $59.95 per month without having to pay anything up front. The gentleman on the phone was very nice and made sure all of my concerns were answered. I only had one concern and that was the fact that it was my first business and I did not want to get stuck in a long term contract incase my business did not work out.
The salesman informed me that it was a four year lease however, in the event the business was closed for any reason, I would only need to return the equipment and provide a letter of explanation as to why the business has closed.
Six months later, my business closed. I packaged up the lease equipment and returned it to CIT. A week later the package was returned to me marked return to sender. I made several calls to CIT with no calls returned. I contacted Lease Finance Group and told them I wanted to return the machine. I was told by the person on the phone that I could return the machine with a check for $4000.
I informed him what I was told by the salesperson and he laughed and said I signed a lease and if I was too stupid to read the fine print, that I was too stupid to run a business. I was furious and asked him what I need to do to void the lease.
His response, pay him the $4000 or file bankruptcy. I have been sending my monthly payment on time ever since. Make sure you are never late otherwise you will get five to ten phone calls every day.
CIT and Lease Finance Group is a total scam and I would recommend that nobody ever gets involved with these companies. It impacts your credit, your financial situation and your life. Stay away from these companies. Do your self a favor and do not sign any lease that you cannot get out of.
0 comments