Complaint / Review
CIT Lease Finance Group
Total Ripoff. Why lease? Vendors working for CIT are bottom feeders and they know it!

My husband started a small business recently and wanted to accept credit cards as a form of payment. A merchant services "vendor" contacted my husband about a credit card machine.

My husband did sign a CIT 48 month lease at $40 a month. However, my husband explained to the vendor that he did not have any customers yet and didn't have a need for the machine just yet. The vendor assured my husband that he would not submit the signed lease to CIT until he was ready. All my husband needed to do was call, they would submit the lease and bring us the machine.

PS. I found out about all this when CIT started calling our house because a payment was behind because my husband's account was in the red. My husband didn't keep me in the loop and he is in hot water. I could have kept him out of this mess but that is neither here nor there.

You can guess what happened. The vendor submitted the lease and they left the credit card machine on our front porch! They also did not leave a copy of the lease with my husband. He should have asked for a copy but didn't.

I am in the process of taking action against the vendor but I wanted to write to see if anyone has ever been able to get out of this lease and if so, how?

I feel these vendors who work with CIT are scammers and prey on small businesses that don't know any better.

We now have no need for this machine, it was never even used and we still have over 3 years on the lease. CIT suggested a "lease transfer" but who would take over a lease when you can buy these machines for much cheaper apparently.

I really don't know what to do. My major problem with CIT is that they told me the only way I can pay is buy automatic bank withdrawal (even though they were sending me invoices with multiple payment methods listed on the return slip). They will only take 10% off the full lease if we want to pay it off.

We can't stop paying it because it will adversely affect our credit.

I know my husband signed the lease and that is his fault and I am furious with this vendor who completely misled him and was very unprofessional but DOES ANYONE KNOW HOW TO GET OUT OF THIS LEASE?

I told the vendor I might hire an attorney to assist us with getting out of the lease and now the vendor won't talk to us at all because we mentioned "attorney". How convienent! My next report will be about this vendor.