The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Balboa Capitalnot honoring buy out

Balboa Capital said that I owe them the fair market value of lease at end of term. After I still made payment after term was up thinking that I would get a rebate after thet straightened out their paper work. I had a addendem to lease from Balboa that they are not honoring. If I did have a fair market lease why would I have to pay the county taxes? Now they are taking the case to trial. This is bait and switch. There are comments on The leasing news web site for further info. Also this is not only complaint as there are numerous ones.

Responses

  • Tk
    tk5cttg Jul 28, 2017

    I purchased a printer through Balboa five years ago. My lease is almost up and they now tell me i can purchase the printer for the full amount that I just got through paying for the last five years. What a joke. They were so nice while I was filling out my paperwork and after I made that first payment everything changed. Customer service was downright rude and if you questioned them they would hang up on you. They yell and over talk you so you cant say anything. They are double dipping. They want you to pay for everything twice. DO NOT USE THIS COMPANY. If you are a small business they will run you in the ground. They will try to hurt you at every turn. I had a vice president there tell me one thing they fired him and then told me they would not stand behind what he had said. I have never seen anything like them. WORST COMPANY ever

    0 Votes
  • Bo
    Bobbie16 Feb 16, 2017

    Balboa is currently ripping me off as well. I have "leased" a machine for the past 5 years paying 989.00 a month. I was told at the start of my lease my by out after 60 months would be $1.00. I was told 9 months ago my lease matured in December 2016. Now with out notice they took 2 more months our of my account b/c they didn't receive a letter of intent. WHAT???? I was told I could buy my machine for 1.00 or I would have never considered these terms, ever!!! Now I'm being robbed. Why am I paying interest if its a lease and they own it. the women I spoke to was rude . I have paid over 63, 000, now I have to lease another 10 months to be told the FMV(Fair Market Value) . Nobody in their right mind would commit to this. They are robbing myself, my business and my family I'm trying to provide for every day. They should be ashamed of themselves!!!

    0 Votes
  • Mm
    mmrichman66 Oct 01, 2015

    This is the worst dishonest bait switch company I have ever been involved in... They told us that we could buy the equipment at the end of the term for $1 the sales guy was a shark and the people that work there are rude!!!VERY RUDE!!! I don't know how they have stayed in Business so long. They should be shut down. SCAM SCAM SCAM If you go to their website they discuss the bad reviews saying we are all liars and that we are not being truthful and they direct you to the made up good reviews of the company.. Be ashamed of your selves for taking advantage of people and lying.. Here is what it says on the website.. DONT BELIEVE IT THEY ARE LIARS AND SCAMMERS THey blame it on social media.. Such Bull.. I don't know how they look in the mirror everyday.. Very sad that companies like this can go on and on abusing people... Greedy
    Balboa Capital Reviews

    Because of the growth of social networking and websites that focus on customer reviews, small business owners can log online and find the information they need prior to making certain business decisions, such as choosing a commercial financing company. However, a significant number of posts and opinions are biased, misleading or fake. The only way to make sure that you are getting real reviews is to hear them from actual customers. Balboa Capital receives videos, hand-written letters and emails from actual customers all the time, and they give our prospects some great insight into what it’s like to work with us.


    Balboa Capital Complaints: Don’t Fall For This Online Scam

    Do you read customer reviews on the Internet prior to making a purchase or selecting a vendor to work with? If so, keep in mind that numerous reviews are not actually written by real consumers. According to several leading online research companies, roughly one-third of all online consumer reviews are written by marketing professionals and business owners who are trying to influence buying decisions, or enhance a brand’s online reputation. We’ve seen Balboa Capital complaints on a few websites that appeared to be written by individuals who have never had experiences with our company. After contacting these websites, the Balboa Capital complaints in question turned out to be fraudulent. If you see a negative review of Balboa Capital, consider the source, and visit our equipment leasing testimonials page to get real, unbiased reviews of our company, like this one from a tire repair company located in Canton, Ohio:

    0 Votes
  • Vi
    vidsmith108 Jan 13, 2015

    I have continued to have problems with this company. They lied about the original terms of the lease, saying it was 11% apr and have lied about the terms of my lease when I called to ask why they were still debiting my bank account. I now totally agree that they are the most dishonest and unethical company I have ever dealt with. I am returning all of the equipment that I have leased from them after paying 4 times what is is worth and they still want another $5000 for " fair market value" They have refused to respond to my offers to settle this matter and keep trying to debit my bank account. This company is a nightmare that should be avoided at all costs.

    0 Votes
  • Vi
    vidsmith108 Aug 14, 2014

    I am having similar problems with Balboa Capital regarding equipment leasing. I am trying to negotiate the end of two leases.They keep renewing them without notifying me. Thanks for letting me know about the pitfalls of dealing with them.

    0 Votes
  • Ma
    madamfab21 Jun 09, 2014

    Balboa Cap. Is the most deceitful company I have ever encountered.
    We purchased or leased a Semi truck total of $16K... my insurance just paid them off the total value or the truck plus some..
    My insurance valued the truck total value to be $22k..
    And get this paid Balboa $33k..
    That isn't including the down payments and payments from me.. of approx $6000 more... they have been paid $39 actual money received on a 16k lease and they just served me papers to sue me for $23k more plus attorney fees... working with jaclyn munez is like working with the devil himself only worse.. stay far far away... and if you are interested in my class action suit join me...

    0 Votes
  • De
    Derek T. Jun 04, 2013
    This comment was posted by
    a verified customer
    Verified customer

    Balboa Capital has been in business since 1988 and strives to provide the best service possible. We place our customers first and pride ourselves on being recognized as a nationwide leader in the equipment financing industry.

    We have many Balboa Capital reviews provided by some of our highly satisfied customers, which can be viewed at the link below:

    http://www.youtube.com/user/BalboaCapital

    Please contact our Customer Service Department at [protected] and we will be more than happy to address any questions or concerns.

    1 Votes
  • Ci
    CIndySmith Mar 16, 2013
    This comment was posted by
    a verified customer
    Verified customer

    This happened to my daughter and my Ex husband. Balboa solicited business from them, they gave them the deal (to give them a try; they have A+ credit, mind you); and Balboa intentionally and with malice, defrauded them. They were under the impression and were verbally explained to that their lease was for 3 years, with 12 quarterly payments on a $65, 000 truck. Which, in the end, spelled 8% interest. $73000 paid with interest. Okay, that was doable. Again, my ex has impeccable credit and did not need alternative financing. Anyway, I was going to purchase the truck from him, and when he went to get a payoff quote, they said he owed 6 more payments (okay), but an FMV (fair market value) addition of some $36000!! Which meant, in layman's terms, that he would be paying over $110, 000 on a $65, 000 truck which means--what?--approximately 27% interest for a man who has an 850 credit score! Huh???? Bottom line is they clearly new what they were doing. They took advantage of an honest man for their gain. Predatory lending, is what it is called. And I am going to convince my ex to sue, and thank God my oldest daughter works for four attorneys. These guys don't know who they are dealing with. They told them one thing, and handed them a contract with false information that they did not explain was in there. Not once did they mention FMV! And then, the best part is how "Jackie" spoke to me. She was condescending and rude. They intentionally set out to defraud people and they are not going to get away with it. How did you make out with your case?

    0 Votes
  • Di
    DisgustedBalboaCustomer Feb 11, 2013
    This comment was posted by
    a verified customer
    Verified customer

    Balboa Capital has royally screwed the small biz guy w/o their deceptive leases. I'm a contractor in MA and I leased a used JLG Lift for $14, 500 in March 2009 for 5yrs w/ Balboa via Financial Pacific. I made the final payment last month. I contacted Balboa today to get my buyout I requested at the start of the lease for $101. However, I received a bill from them today for $550 due in 5 days w/ no explanation. I assumed it was the wrong buy out amount, so I contacted them and they claim they own my equipment and are now extending my lease another year @ $550/ mo or we can buy it out for FMV or we can pay to have it shipped back to them ! I already paid over $26K in lease w/ interest and now I'm going to rebuy my equipment?! I was told today they sent a letter to me back in July and I never responded and was my fault if I didn't understand my lease. I NEVER received any letter from them and this is not the lease terms that I agreed to - they baited me with one term and had me sign another. I had multiple problems from the beginning with the lack of communication and disclosure from Balboa and now I see it wasn't just me. If anyone is doing a class action suit, please contact me.

    0 Votes
  • Balboa Capital Sep 08, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Hello Mr. Abrams,

    Balboa Capital is pleased that we were able to successfully resolve the issue that you had with our company. Again, we regret any inconvenience you have experienced. Thank you for giving us the opportunity to assist you, and to be your financing resource.

    Sincerely,
    Balboa Capital

    0 Votes
  • Todd Abrams Sep 01, 2011

    balboa capital is the worst company i have ever had dis-pleasure of doing business with. they new up-front that they had to send a deposit check in and then they caharged me $100 for this. They then inspected my plant and charged me over $650 for this. Matt Nuyen, the rep, was very rude and unprofessional. bad people!!! todd Abrams sonrise metal.

    0 Votes
  • De
    DerekT Dec 28, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hello Balboa Capital customer. Our customer service team couldn’t help but notice the review of your experience with Balboa Capital. We are fully committed to offering customers the best possible experience, and in the event you are unsatisfied with our service we will do everything we can to remedy the situation. Although Balboa Capital strives to provide the best experience, we acknowledge that occasionally we do fall short.

    Balboa Capital has been in business for over two decades and we pride ourselves in conducting the most ethical business practices. As a company, we sincerely value your business and encourage feedback in order to improve our efforts. We are in business to serve you and our commitment is to offer customers the best service every time.

    In order to carry out our efforts, we request you email us at [email protected] or call us at [protected] so we may work towards gaining your approval. We want you to know we are listening, we care, and we are determined to change your experience with our services.

    Warmest Regards,
    Balboa Capital Customer Service

    0 Votes
  • Ba
    BALBOAFRAUD Aug 24, 2010
    This comment was posted by
    a verified customer
    Verified customer

    This company is complete fraud. I leased a truck from them and at the lease end they completely scammed me. We went into negotiations about what it would cost me to purchase the truck at lease end, and they completely scammed me. My contract clearly stated up to 10% residual. UP TO! They charged me 25% residual, and then took an unauthorized payment from my account. I am currently in a fight with them to resolve this issue and they are completely irresponsive. Stay away from Balboa Capital at all costs!

    1 Votes
  • Bo
    Bob Loblaw Aug 17, 2009

    As a business owner, I know how important it is to read the contracts I sign. Leasing is a tricky business, and you gotta be tough and diligent to get a good deal, but they're out there. Did you sign a FMV no residual addendum? Did you give notice to cancel the lease? Does your contract state that you will buy the equipment for fair market value? It's all in there.

    IF the contracts did not state these things, then you are in luck. The contract can be your best friend if you read and understand it... and your worst enemy if you signed blindly.

    0 Votes

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