• Report: #612507

Complaint Review: FIVE POINT CAPITAL EQUIPMENT LEASING

  • Submitted: Thu, June 10, 2010
  • Updated: Wed, June 23, 2010

  • Reported By: jlb — Parsonsburg Maryland United States of America
FIVE POINT CAPITAL EQUIPMENT LEASING
10525 Vista Sorrento Parkway 3rd floor San Diego, California United States of America
  • Phone: 888 576 4685
  • Web:
  • Category: Loans

FIVE POINT CAPITAL EQUIPMENT LEASING Fraudulent Sales Practices San Diego, California

*Author of original report: Five Point Capital - Righting a Wrong

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Five Point Capital uses the Bait and Switch tactic.  They are a leasing


company and verbally promises a $ 1.00 buyout at the end of the lease. But in


the contract they actually keep the equipment and in order to get it at the end,


you have to pay fair market value of the equipment. 


 If you choose not to purchase it then you have to pay to have the equipment returned to them.  Talk about a slap in the face.  In the end, you are actually paying


100% markup on the original price of the equipment. 


There was never once a choice of the Fair Market Value buy out or the $ 1.00


 buyout - We questioned several times about the $ 1.00 buy out and it was


always confirmed that it was their policy. 


 


This report was posted on Ripoff Report on 06/10/2010 08:03 AM and is a permanent record located here: http://www.ripoffreport.com/r/FIVE-POINT-CAPITAL-EQUIPMENT-LEASING/San-Diego-California-92121/FIVE-POINT-CAPITAL-EQUIPMENT-LEASING-Fraudulent-Sales-Practices-San-Diego-California-612507. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 0Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Five Point Capital - Righting a Wrong

AUTHOR: jlb - (United States of America)

We have been in contact with the CEO of Five Point Capital and discussed our problem with the company.  He agreed to honor the $ 1.00 buy out that was promised us during our leasing processes.  We received the paperwork today and will return it to him asap.

Mr. Wells is an honorable man and has worked diligently with us to right the wrong.

Any one who feels that they have been duped is advised to call and discuss their individual problem directly with them.

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