- Report: #724968
Report - Rebuttal - Arbitrate
Complaint Review: Five Point Capital
Five Point Capital13280 Evening Creek Dr South San Diego, California United States of America
Five Point Capital Bait and Switch Total Rip Off San Diego, California
*Consumer Comment: no satisfaction yet
*REBUTTAL Owner of company: Name of FPC Mike who helped
*Author of original report: Five Point Capital resolves issue
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.
This report was posted on Ripoff Report on 05/03/2011 08:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/Five-Point-Capital/San-Diego-California-92128/Five-Point-Capital-Bait-and-Switch-Total-Rip-Off-San-Diego-California-724968. 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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