- Report: #724968
Complaint Review: Five Point Capital - San Diego California
Reported By:
mike from st louis -
Arnold, Missouri, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Five Point Capital
13280 Evening Creek Dr South San Diego, 92128 California, United States of America
Phone:
888-576-4685
Web:
Categories:
Business Rating:
(0)
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Five Point Capital Bait and Switch Total Rip Off San Diego, California
Our small business got a call a little over 4 years ago from Jason at Five Point Capital. 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. We found the KUV we wanted in Houston Texas and flew there to purchase it. Jason at FPC sent all the paper work to the dealer and I had to sign it at the dealership. Every thing went good for four years.
Then after four years I called to find out how to make my $1.00 buy out and get the title to the truck. We had actually contacted them a few months previously to find out what comes next as we knew we were a the end of our lease and no one ever returned our call. We then get a bill for a 'rental fee' for the month and called again. 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 at fair market value. I was completely taken back by that. She said to read my contract and e-mailed me a copy. The $1.00 buyout was a scam. The actual buy out and to get the title was over $6000.00. We told them to come get it...the keys would be in it and were told we would have to return it to them in California. After consideration I paid them for the truck before they put any more charges on it.
I am filing a claim with the BBB. This is a total scam and I would be willing get involved in the class action suit. Do not do business with this company. We have now paid $23000.00 for a $12000.00 truck. And of course the man who scammed us into the deal is no longer with the company.
If you have had trouble with this company, please report it. They need to be stopped.
3 Updates & Rebuttals
mowmow
Weirton,West Virginia,
United States of America
no satisfaction yet
#2Consumer Comment
Wed, January 25, 2012
I have been trying to find out information on how to handle my buyout,
I have been sending emails and phone calls with out any good results.
I was told FPC is not required to give me the information I am asking.
Wish I knew who Mike is and if your delemia is the same as mine.
SR
Houston,Texas,
Virgin Islands (US)
Name of FPC Mike who helped
#3REBUTTAL Owner of company
Mon, May 23, 2011
Can you refer the rest of us to the employee who did help you resolve your lease issue? I'm not sure if allowed on here or how to email you directly, but I would like to know so I can try and resolve. Thank you very much!
mike from st louis
Arnold,Missouri,
United States of America
Five Point Capital resolves issue
#4Author of original report
Tue, May 03, 2011
I received a call from a man named Mike at Five Point Capital after e-mailing them my complaint and what my intentions were for dealing with the problem that we had with their company. He was very easy to talk to and listened to the truth of what had happened. Within hours he had called back and resolved all of our differences. Five Point Capital has completely stood behind what had been promised in our original agreement with them. Our company is very satisfied with the outcome of our business dealings with Five Point Capital and are thankful to Mike for his concern and prompt reaction to the problem.
