Five Point Capital & Pentech Financial DO NOT DO BUSINESS WITH THESE PEOPLE - BAIT & SWITCH!! Ripoff San DIego California

FPC trains there staff to be dishonest, this is planed from the word go,

if you dont have the one dollar buy out, attachment/ademend with your contract your screwed

but not totally,  see this is all pre planed on there behalf .they tell u one dollar buy out, but dont give u the ademden ,page 2 that shows this, call Arron olson attorney in San degio cali

i got my 1 dollar buy out, so can you if you fight them  (((ROR redacted)))

scott    they suck (((ROR redacted)))

this indusitrie is unregulated thats why they do what ever the fudge they what
they still suck   scott

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Looking at this rip-off report, and Shaun's response as an ex-employee, i'd like to clarify a few things about the leasing industry in general.

I work for a leasing company/syndicator/broker and Shaun's comments against the consumer are incorrect and correct.

1.) Yes, people should read their documents
2.) Yes, a FMV/Fair Market Vlue lease is a tax write off
3.) A CAPITAL LEASE/$1-out/Dollar Buy-Out lease IS ALSO A TAX write off. (Shaun is incorrect saying you cannot write this off.)
4.) The customer does have an option to choose a FMV or $1-out/capital lease, however, what Shaun forgets to mention is that the customer has to ask for a $1-out/capital lease. Otherwise, lease docs are always presented in a FMV/Fair Market Value structure. How can one expect the consumer to know this right away? If Nicole Crouse or whoever the sales rep was on this transaction was upfront, this would have been explained to the customer prior to docs being sent out, seeing that the deal was to sell a "line-of-credit" and not a lease.
5.) For someone who worked in the industry; LEASEING is spelled "leasing"

Just my two cents.

-Another leasing broker/syndicator.

Why doesn't they're offer say PRE APPROVED LEASE instead of PRE APPROVED LINE OF CREDIT. Be upfront!

Why doesn't they're offer say PRE APPROVED LEASE instead of PRE APPROVED LINE OF CREDIT. Be upfront!

Why doesn't they're offer say PRE APPROVED LEASE instead of PRE APPROVED LINE OF CREDIT. Be upfront!

Why doesn't they're offer say PRE APPROVED LEASE instead of PRE APPROVED LINE OF CREDIT. Be upfront!

Had plenty of leases that never were screwy like this one. And the lease isn't the point - they offered a LINE OF CREDIT - not a LEASE. They switched the original deal.

This company stinks and everyone I know who has had dealings with them agrees. And we know plenty of people in the equipment business who get this companies PRE-APPOVED LINE OF CREDIT OFFER - and it's crap. I'm trying to save a few people the headache.

** Never had a lease (have had 5) on any of my trucks or equipment where when I went to sell them I owed more than I paid for them.

Had plenty of leases that never were screwy like this one. And the lease isn't the point - they offered a LINE OF CREDIT - not a LEASE. They switched the original deal.

This company stinks and everyone I know who has had dealings with them agrees. And we know plenty of people in the equipment business who get this companies PRE-APPOVED LINE OF CREDIT OFFER - and it's crap. I'm trying to save a few people the headache.

** Never had a lease (have had 5) on any of my trucks or equipment where when I went to sell them I owed more than I paid for them.

Had plenty of leases that never were screwy like this one. And the lease isn't the point - they offered a LINE OF CREDIT - not a LEASE. They switched the original deal.

This company stinks and everyone I know who has had dealings with them agrees. And we know plenty of people in the equipment business who get this companies PRE-APPOVED LINE OF CREDIT OFFER - and it's crap. I'm trying to save a few people the headache.

** Never had a lease (have had 5) on any of my trucks or equipment where when I went to sell them I owed more than I paid for them.

Ok I am tired of reading complaints about Five Point Capital. They are a good company that is in the leaseing industry. If you understand what a lease is, you understand a lease is a rental with the option to purchase. Its a FMV lease where you will owe more then the original value of the equipment if you decide to pay it off very early. I worked there as an account manager. The customer has the option to do it as a dollar buy out option or a FMV lease. The FMV lease gives you a full tax write off where the dollar buyout is a straight finance option with no tax write off. Its the customer that needs to decide what is best for them.

READ YOU LEASE DOCUMENTS!!!!

Its that simple, the lease documents are easy to read and explain exactly what type of finance option you are selecting!