Complaint Review: Five Point Capital San Diego - San Diego California

Five Point Capital Strikes Again!!!

They are getting smoother and better at ripping people off.   Marco (if that is his real name) the high pressure phone rep. called me every week for months until he finally wore me down and talked me into doing a 100% lease with ZERO dollars buy out at the end.   I have my notes and my accountant also has his notes where I had him on the other phone while Marco was doing job of not disclosing the fine print.  

The disclosure page for me looked just like a disclosure page from a bank.  The disclosure page that he faxed me had 60 months in big letters and a $435.22 montly payment.   He even told me that the $ 435.22 montly payment was a little more than normal but that was needed to make the zero buyout at the end work.  I had talked to this guy 20 times over a few month period and I trusted him to tell me the truth about what he was selling me.

Like a fool,  I trusted this company and set them up and let them draft my business bank account every month for 60 months.   This past October I thought I should have that truck paid off by now so I called my accountant and he said the 60 months was up in May of 2013.   They took 5 more payments out of my account before I realized it. 

I emailed Sandra Otero with Five Point Capital.   She has been there a long time.  She was one of my contacts when setting up this lease.   I called her on the phone and said, Hey, my lease of 60 months should have been up in May.   She said, "Oh we don't do any zero dollar buyouts.   I don't know what you're talking about.   If you want to do your buyout it will be approx. $ 8,000.00 more dollars.   I said that isn't right, please reasearch it and get back to me.   We all know where that request went,  in the trash.

So,  I found the truck to buy for $ 18,000.00.   Spent $ 2000.00 getting it to Kansas City, from North Carolina.   They took 60 months of payments of $ 435.22 from my bank account.   They took 5 more payments from June through October only the slick part was they changed the description on the bank EFT's that said Five Point Rental.  My accountant said that may possibly be bank fraud so put a stop to them at the bank level.  The took $ 2,176.10 after my 60th payment was made in May.     60 payments @ $ 435.22 = 26,113.20

             5  payments @ $ 435.22 =  2,176.10   of fraudulent drafts

So I have already paid $ 28,289.30 for an $ 18,000.00 truck.   and they want another $ 8,000.00 if I want to keep the truck I have already paid dearly for.   I need help from anyone in Missouri that has been successful in dealing with them.   Since I stopped November and Decembers payment, they have already given my email address to a guy that says he has a repo order for this truck.   I'm not sure where to turn or what to do next. 

When I got the truck and had already started paying them in the beginning, they did not have the proper documentation for me to get the tags and title for this truck.  This took several weeks for them to get their act together with the State of MIssouri so I could tag this truck.   I have paid the taxes on it every year because I thought it was my truck.   I had to put a $ 3000.00 transmission in it last year.   Since it is a lease piece of equipment I wonder if they want to pay me back for that.   I had to make a joke.........  

If anyone else in Missouri has dealt with these crooks please leave a rebuttle with a subtle way for me to find you.   Thanks and let's stick together.   There must be a lawyer that does class action work that could take the case with as many as are listed on this web site.