- Report: #646373
Complaint Review: five point capital - San Diego California
Reported By:
Bill from PA -
Scott township, Pennsylvania, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
five point capital
10525 vista sorrento pkwy San Diego, 92121 California, United States of America
Phone:
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five point capital Don't believe the $1.00 buy out San Diego, California
I got a call 5 years ago from David Beckman. He told me of a great lease option for my business. I could lease equipment and at the end of the lease buy it for $1.00.
So I took him up on the offer. Pick out a pickup truck. He sent all the paper work to the dealer and I had to sign it at the dealership. Every thing went good for five years.
Then after five years I called to find out how to make my $1.00 buy out and get the title to the truck.
I was told that since I didn't contact them three months before the anniversary date that it automatically renews for another year. They also said after the year was up I could buy it out at fair market value. I was completely taken back by that. She said to read my contract.
I filed a claim with the BBB. Five point called me to make a deal. The deal was (to make a long story short) pay them another $4,200 and I will get title. So I ended up paying 65 months of lease payments then another $4,200 for the buy out for a grand total of $44,800.00 for a $25,000.00 truck. I would love to build a house for my friend David Beckman and charge his rates.
This is a total scam and would be willing get involved in the class action suit.
