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Report: #1309144

Complaint Review: Why Not Lease It - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Shawn — Temecula California USA
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  • Why Not Lease It Nationwide USA

Why Not Lease It (WhyNotLeaseIt) Why not lease it, lease it some more then buy it again? Nationwide

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I was in need of a new refrigerator as I was losing food at an alarming rate.  I did not qualify for enough credit to finance a new fridge.  I couldnt find a suitable replacement on the used market that would fit the bill.  So I turned to Sears.  I saw an ad for Why Not Lease It and thought that would be a viable option.

Now I knew I would be loosing money doing a lease vs purchase but I had no other options.  What I didnt know is that I could have had a top of the line 4 door dilly deluxe for what I ended up paying!

The original purchase price was $990.  I had to pay $253 to start the lease and pay $85 ever other week for at least 3 months.  At the end of 3 months the optional buy-out amount was $544.  By the end of 3 months I had paid a total of $1103.  Well as time went on, I basically forgot about the lease.  I received no reminders or phone calls from the company.  I realized today that I need to find out what my buy out is for the fridge (by the way, I am now 7 months into the lease).  To date I have paid $1528.  My buy out is still $509!!!! 

All said and done I will have paid nearly $2100 for a $900 fridge!  There is no verbiage in the lease agreement that I could decifer that said I would not be paying toward the buy out amount after the first 3 months.  I gave them almost 4 months of free money! $680...more than the original buy out!

After phone calls and emails to the company, my only options are to keep paying the lease to no end, pay $509 to buy out or return the item to Sears and get a small amount (undetermined) of money back and be left at square one.

This report was posted on Ripoff Report on 06/02/2016 01:48 PM and is a permanent record located here: https://www.ripoffreport.com/reports/why-not-lease-it/nationwide/why-not-lease-it-whynotleaseit-why-not-lease-it-lease-it-some-more-then-buy-it-again-1309144. 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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