Add me to the list of all the other folks here who have complained about Northern Leasing and having to pay thousands for a machine that is only worth hundreds.
I signed up with Card Services International in July 1999. They were the ones who initiated my "48-month" lease for a Linkpoint 3000, at a rate of $29.95 per month.
Little did I know that this machine can be bought new for about $100, but that's beside the point. I also just let it slip by that they were actually charging $36.40/month - not $29.95. I just assumed fees, taxes, whatever.
When the 48 months was up, no one contacted me. My personal life entered a four-year state of turmoil at that point, and it is only today that I realized I paid for ANOTHER 48 months at the same price.
I called the company today and they told me that when the lease was up, I could have exercised one of several options: return the machine, buy it out for close to $200, or upgrade to a new machine. I did not exercise any of these options, so Northern Leasing exercised one for me: continue to charge $36.40 per month.
By my calculations, with a buyout after 48 months, they owe me at least $1500. This is generous, considering that the buyout price, alone, is more than the machine is worth - not to mention over $1700 in extra fees, AFTER the first $1700 in the 48-month leasing period.
I know for sure that I never agreed to continue with this arrangement. In fact, I have very little info about our agreement at all - only what's on my application with Card Services International.
I'm angry and broke, and I am demanding a refund. I am threatening with small claims court. Rest assured, I will print out every complaint if it comes to that.
They clearly counted on the client to be too busy or have too many transactions to notice this small monthly deduction. Well, it sure worked, and I'm a SMALL business.
Cape Cod Design
Yarmouth Port, Massachusetts