I leased a Gateway computer (V933) in February. I opted for 24 month lease hoping to have it deducted as a business expense.
The price tag on the computer was about $1000.00. The monthly installment came to about $59.00 monthly.
I asked the sales person, Taylor about the buyout price at the end of the lease. He told me that it should be less than a $100.00 but I don't have to keep the computer if the price is not acceptable. (incidentally Dell offer you a buy out option of just one dollar}. I am busy a practioner and my secretary handles the leases and bill payments.
We realized last week that we have paid 33 monthly payments instead of 24 payments. I called the Gateway leasing company, CIT Group, Jacksonville, FL. I was told that there was a clause in the lease that I had the obligation to notify CIT about three months in advance about terminating the lease. Not only they will not refund my overpayment of $531.00 that they won't terminate my lease unless I send a sum of $197.50 by elecrtronic check the same day (11/26). I felt I was left no option and i sent the money.
I have tried every possible way to resolve the issue. Nobody in those two company wants to discuss it even. I was sent an email telling me that I had signed a lease and the matter is closed. I was also told that even if i responded to that email they will acknowlegde it.
I absolutely had no knowlegde of that clause. The sales person did not mention it. Otherwise I have never signed a lease. It appeared to a standard printed lease and I could never could have suspected having such a clause in the morgage. It is as if somebody has put in your mortgage papers that the mortgage company will be allowed to steal your property in the home and you had signed the papers with detecting the clause.
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