Complaint Review: Five Point Capital

Be very careful if you are planning to finance equipment through Five Point Capital.  In my case, they were very deceptive.  If the use the term $1 buy out, run away as fast as you can.

I had two leases with a combined total of $21,000 with Five Point Capital.  The cost to me over 48 months to finance this amount was $33,000.  I had no problem with this amount and was happy that I finally owned the equipment.  This is where my nightmare began.

To my surprise, I started getting invoices from Five Point Capital because they stated "we own the equipment, now you must pay rent"  How much is rent?  It cost me an additional $12,000.

So if you do the math, I will end up paying more than double the original amount.  I refused to pay and they will not let me return the equipment because I did not contact them 4 months prior to the end of our agreement.  

Again, the dollar buyout is a scam!  So be careful before you sign the dotted line.  Personally, I would not do business with Five Point Capital or any other businesses associated with them.