ED Magedson – Founder
Marlin Leasing300 Fellowship Road Mt Laurel, New Jersey United States of America
I entered into a lease with Marlin Leasing in April of 2006. I called recently to find out what my pay off would be as the lease is coming to an end. To my surprise they said I would have to pay $5900.00 for a fair market buyout in addition to another $3715.00 in additonal pay off fees. I will have paid $19,000 already for the copier by lease end and the IRS has already established fair market value on a 48 month lease to be 10% or $1900 in this situation. When I asked how they derived this $5900 amount the customer service person just said this is an amount they determined at the lease inception. I then asked where was this disclosed and she said they didn't disclose this and they didn't have to. What a racket!
I would never do business with this company again. They are arrogant and obviously don't care about ethics.
This report was posted on Ripoff Report on 10/28/2009 06:05 PM and is a permanent record located here: http://www.ripoffreport.com/reports/marlin-leasing/mt-laurel-new-jersey-08054/marlin-leasing-deceptive-practices-mt-laurel-new-jersey-516477. 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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