Balboa Capital — no honoring 10% buyout
We negotiated a lease agreement with Balboa's representative that included a 10% buyout of the equipment at the end of the term. When the contract was finally signed, it was with some different contract person that came to the house with the paperwork all ready to be signed. The contract type was so small it could not be read but the conversation was that it included the 10% buyout. Well, it is time to notify them that we intend to purchase the equipment (required 6 months before end of term) and we are being told that it is fair market value buyout... a big monetary difference!!!
Now we are seeing that this company is notorious for this and we want to join any others with the same experience.
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