While selling us on the idea of using his processing company for our business's credit card payment, a Wholesale Payment Solutions slick salesman set us up with a credit card machine to be financed by Lease Finance Group LLC. No opportunity to purchase the machine was offered by the salesman. There was no amoritization schedule furnished to see what would actually be paid for the machine in the end.
The salesman led us to believe that if we were not satisfied with the equipment we would be able to return it. That proved not to be true. Wholesale Payment Solutions says we can pay it off for $1450 by Dec. 2008; Lease Finance Group says the payoff would be $1900 even after paying $48.29 for 4 months. Both of those quotes are 2-3 times for what the machine can actually be purchased elsewhere we have since learned.
The base monthly payment of $39.99 per month plus taxes and other fees was quoted in the supposedly non-cancellable lease without stating the exact amount it would be (which turns out to be $48.29 per month for 4 years.)
Boy, do we feel ripped off!
Bunny
Tecula, Texas
U.S.A.
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