Complaint Review: CIT Lease Financing Group - Middletown Ohio
- CIT Lease Financing Group 233 North Michigan Ave, Suite 1800 Middletown, Ohio U.S.A.
- Phone:
- Web:
- Category: Credit Card Processing (ACH) Companies
CIT Lease Financing Group ripoff Middletown Ohio
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I was also burned by this company which seems to be a very frequent complaint. Essentially, this company has a leasing program for credit card swipers, mine was a Trans330.
They called it the lease-to-buy program and they prey on new business owners. They lock you into a 48 month lease for apprx $36/month. If you do the math, that comes out to about $1700. After the lease you can purchase the equipment for a couple hundred dollars more. This is not a deal b/c you can buy a new one for about $300. I found a used one for $40. You cannot get out of the lease for any reason without paying a hefty fine of over $1000.
Their excuse for such a pricey lease comes down to warranty information and how they "stand by their customers".
Ted
Oceanside, California
U.S.A.
This report was posted on Ripoff Report on 08/04/2004 01:54 PM and is a permanent record located here: https://www.ripoffreport.com/reports/cit-lease-financing-group/middletown-ohio/cit-lease-financing-group-ripoff-middletown-ohio-1034814. 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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