Chet
Boston,#2Consumer Suggestion
Thu, September 23, 2004
Raymond, I am sorry to hear of your problem, but it is not the leasing company's responsibility to explain the lease contract to you. You should have read the contract and understood the terms and conditions governing the contract. I have been in the lease business for many years and have gone through contracts as both a lessor and a lessee. You must read them (and any contract) before you sign them. The leasing company purchased that equipment with the expectation of getting its monthly payments to recoup its costs. May I suggest that you offer them a "break fee" that will allow you to pay some (but not all) of the remaining obligation so they can have a lower cost basis to try to move the equipment to another user? They are under no obligation to do so but it is a possible solution. Chet