Five Point Capital Lease Nightmare San Diego, California

Be very careful if you are planning to finance equipment through Five Point Capital.  In my case, they were very deceptive.  If the use the term $1 buy out, run away as fast as you can.

I had two leases with a combined total of $21,000 with Five Point Capital.  The cost to me over 48 months to finance this amount was $33,000.  I had no problem with this amount and was happy that I finally owned the equipment.  This is where my nightmare began.

To my surprise, I started getting invoices from Five Point Capital because they stated "we own the equipment, now you must pay rent"  How much is rent?  It cost me an additional $12,000.

So if you do the math, I will end up paying more than double the original amount.  I refused to pay and they will not let me return the equipment because I did not contact them 4 months prior to the end of our agreement.  

Again, the dollar buyout is a scam!  So be careful before you sign the dotted line.  Personally, I would not do business with Five Point Capital or any other businesses associated with them.