Benchmark Financial Group llc had contacted me, by a referal from a truck company, to offer a 16% intrest rate on a bucket truck. The loan/lease was quoted $29000 for 5 years at 16% with monthly payments of $1114. I said, it seems high, and they said that I was a new company but would be building credit with this loan/lease. They asked us to overnight a check $2428 along with the paper work and they could process this immediatly. Just to make sure we filled out the paperwork properly, Benchmark had asked us to fax over the paperwork filled out. Thinking 16% was an okay rate we filled out the paperwork and faxed it over. The next day we sent the paper work assuming all was fine but found that they needed more paperwork filled out with another hundred for processing fees. They would pay for the overnight fee. Becoming suspicious of their inconsistancies, I googled their name and found that they have had serveral complaints about quoting an intrest rate and not dissclosing any rate in the paperwork. After signing the paperwork they lock you in to the loan/lease. I was horrified as I computed my rate at over 25%. When I contacted them again asking about the rate, they continued to claim it was 16% and I told them I wanted out because it was not at 16%. A week later another repersentive called and claimed that I had already signed off on the monthly payment and could either continue with the deal or they will hold the money to put toward another loan in the future. When I mention that I was quoted 16% he said there was noway I was qouted such a low rate and then he repeated my two options. I am a growing company in a great position to help stimulate the economy but was preyed upon by Benchmark.
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