Report: #564142

Complaint Review: CapNet Leasing Corporation

  • Submitted: Wed, February 03, 2010
  • Updated: Wed, February 03, 2010
  • Reported By: LYLE S — KAUKAUNA Wisconsin United States of America
  • CapNet Leasing Corporation
    2600 West Olive Ave. 7th Floor,Burbank,CA 91505
    Burbank, California
    United States of America

CapNet Leasing Corporation Maxim, AEL Financial, Financial Pacific Leasing, Axis Eric Slegel promised $100,000.00 at low interest. Turned out to be 62%!!! Burbank, California

Show customers why they should trust your business over your competitors...

When our company needed some financial help, CapNet sounded like a really good deal.  All Eric did was farm out the loans to the others mentioned.  One of the loan's interest rate is 62%, another 43%, and another at 37% and 39%.  These loans are all non-cancelable agreements.  This means that we cannot pay them off early.  A $262,000 loan will now cost $680,249 to pay off.  If the loan is a five-year loan, you will be obligated to pay ALL of the taxes and ALL of the interest even if you are able to pay it off in 6 months.

This was an awful tough lesson.  Don't ever be taken in like we were.  They are nothing but crooks!
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This report was posted on Ripoff Report on 02/03/2010 04:24 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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