Ive got two leases with lease finance group for a credit-debit terminal/pin pads and for a bill paying computer by blackstone company that I purchased back in 2007. My leases will terminate this year one on May 31 and July 5. I called LFC to find out exact dates of termination on leases and to find out the details on termination of lease. I was told that I have three options, 1. Return equipment 2. Rent on a monthly lease 3. Buy out lease. I figure since I already paid so much for equipment i should just buy out lease. I cant believe that they still want $465.00 for one lease and $593.00 for the other lease. This is crazy after all the money i already paid them they still want more. I cant believe how these financing companies rip people off. Ive worked with other financing companies and at the end of my lease I would just pay $1.00 to buy off lease and a written explanation on purchasing lease. I thought LFC worked the same way, eventually not. I need advise on what I should do and what is all this property tax and processing fees they charged me a month. The bad thing is that once you make your purchase on a equipment and you receive your notice from the financing company you then start reading all of the terms and conditions of lease not knowing after you signed. This has really made me open my eyes so that next time I will first ask for a copy of terms on financing company before I sign documents or just buy cash. I will save myself a lot of headaches.
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