The complaint has been investigated and
resolved to the customer's satisfactionResolved Balboa Capital — lied about $1 buyout and extra charge
resolved to the customer's satisfaction
We had financed a new piece of equipment with Balboa Capital about year and half ago and were lead to believe we were signing up for a $1 buyout of the equipment but realized later the paperwork stated fair market value buyout. The financing person who helped us acknowledge it but was only willing to change to $1 buyout lease if we were to finance another equipment with them. This is a clear "bait-and-switch" situation. For the term of the lease, we would have paid over 130% of the value of the equipment already, but in the end will still have to pay fair market value for it. They charged us for an extra payment indicating it was interest payment for time they needed to set up our initial payment (which the finance agent indicated was not going to happen since it would be short period to set up). Currently we are waiting for the lease to expire and return the equipment to them. We would never do business with Balboa Capital again and suggest others to be extra careful. It seems this is the culture of their company. Anyone with any suggestion as to deal with this situation please contact me at "[protected]@gmail.com".
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