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2.2 17 Reviews

Balboa Capital Complaints Summary

5 Resolved
12 Unresolved
Our verdict: When using services from Balboa Capital with a poor resolution rate, be vigilant. Understand the common pitfalls other customers have faced. Prepare thoroughly for any interactions with their customer service, and consider alternative solutions if your issues are not addressed satisfactorily.
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Balboa Capital reviews & complaints 17

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11:11 am EDT

Balboa Capital sales call

I am writing to complain about a extremely rude and disrespectful sales call we received today. The girl that called was pushy and hung up on me. She asked for the person in charge and I explained to her that she was not available right now and who she needed to talk to and she said to me I need to talk to someone else. I told her again that the person she needed to speak with was not here and offered to take her name and number and have her call her when she returned and she said to me..."So your telling me your the only person there?" Once AGAIN i told her that the person she needed to speak with was gone. She then hung up on me. I thought this was rude and disrespectful.

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10:25 am EST

Balboa Capital conmen

I barely escaped the clutches of this con job,
They signed me up to recive 30k then send me dociments for 8 k afterbibwas put through everything and signed the agreement for thirty k, the needed my commitmemt fee amd the aigned document along with id and a voided check, all sent amd they said ibwill get the loan docs the next day and fund the day after for the 30 k, i made commitments based on the 30k and the bery next day the dics came to me for 8 k, , and a 150 percent payback with daily payments, wow so i ran to bank stopped oaymemt on my check for commitemt fee and they were alteady trying to presemt the check, bait and switch, , , DONT GO HERE FOR penny, , then the sales guy actually had the nerve to be rude when i spoke to him anout what they did, ,

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9:58 am EDT

Balboa Capital lease

Problem after problem... want return phone calls. Tried to get out of a lease that they want let end. Hired an attorney to make sure I took proper steps.. they want respond to me or the attorney. They think their buy out price at the end of the lease is a new truck. Biggest mistake we have ever made was using this company.. all you have to do is look at the negative reviews all over the web.

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Is Balboa Capital legit?

Our verdict: Complaints Board's thorough examination reveals Balboa Capital as a legitimate entity with notable strengths. Despite a 29% resolution rate on customer complaints, which invites a closer look, Balboa Capital stands out for its commitment to quality and security. Clients considering Balboa Capital should delve into its customer service record to gauge compatibility with their expectations.

Balboa Capital earns 94% level of Trustworthiness

Perfect Trust Endorsement: Balboa Capital achives 94% ligitmacy per Complaints Board. Highly recommended, yet always stay vigilant.

We found clear and detailed contact information for Balboa Capital. The company provides a physical address, 5 phone numbers, and 2 emails, as well as 4 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.

Balboa Capital has registered the domain name for balboacapital.com for more than one year, which may indicate stability and longevity.

Balboacapital.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.

Balboacapital.com you are considering visiting, which is associated with Balboa Capital, is very old. Longevity often suggests that a website has consistently provided valuable content, products, or services over the years and has maintained a stable user base and a sustained online presence. This could be an indication of a very positive reputation.

Several positive reviews for Balboa Capital have been found on various review sites. While this may be a good sign, it is important to approach these reviews with caution and consider the possibility of fake or biased reviews.

Balboa Capital website is deemed to be popular and indicating that it receives a high volume of traffic. It is important to be cautious when using a highly trafficked website, as it may be a target for cybercriminals looking to exploit vulnerabilities or steal personal information.

However ComplaintsBoard has detected that:

  • Despite a high level of trust, our investigation found issues with Balboa Capital's service, including poor customer service, lack of accountability, and responsibility to resolve complaints. Customers may face long wait times for responses, receive generic or unhelpful answers or no response at all. Only 29% of 0 complaints were resolved.
  • There was some difficulty in evaluating or examining the information or data present on the balboacapital.com. This could be due to technical issues, limited access, or website may be temporarily down for maintenance or experiencing technical difficulties.
  • Balboa Capital protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.
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9:14 pm EDT

Balboa Capital equipment lease

Small Business owners- **** BE CAREFUL WITH THIS UNETHICAL LENDER*****
Balboa capital has a very deceptive business practice.
They will continue to charge the quarterly payments even after the lease is over.
I have asked them to refund the un-authorized payment and security deposit several times but they have not responded nor returned but keep charging/ sending invoices.
They will sneak all kinds of fees. They have very deceptive fine line conditions that allegedly puts you on
Another lease for a year even if you have told them to finish the lease contract.
The customer service people are basically very sneaky and trained to steal and rob small business owners.
They are still practicing predatory lending.
They would not refund the security deposit and unauthorized extra payments taken out from the account.
They will frequently try to add junk charges on their invoices - For Example - they will add charges for insurance even though insurance has been always covered and proofs sent to them. They are very notorious in charging extra fees anytime they can if you don't catch them. All along the term of lease this notorious lender has charged junk fees.
You are dealing with Financial Vultures at Balboa Capital.
They have an amazing [protected]@balboacapital.com. People are trained in that department to extort money from small business owners. There customer service department is really not for customers. They will say you have one payment left or two payments left when I inquired but will keep charging beyond those one or two payments. Very clearly told them that We do not want to keep this equipment after the lease payments are done, customer service rep said no problems - you have 2 more payments left under the lease. After the 2 payments were done, I called them again and the customer service rep says oh, you have one more payment left on the lease. That blew my mind. I asked them to send detailed payment statement. I asked the Rep - I had requested no more payments and I am not using these servers (leased equipment) for the last 7-8 months, you need to pick them up or I can send wherever you need these sent. The rep then says - oh please send a letter by certified mail and will see what we can do to get you out of this. Sent them the letter by certified mail - then they came back - you have four more quarterly payments left as we renewed you forcefully and automatically in an annual contract. But the contract's paragraph 16 has monthly payment provision for after lease rental and there is no quarterly payment provision. But they keep sending quarterly invoice to trick you into the payments. This is a trick used by them so that a small business owner will not find out that the lease term is over. They will never send you any instructions where to return the equipment as they want to forcefully enroll you in a lease for 4 more payments over and over again (This is their internal game).
Tried speaking with the manager of the customer service department and that was pretty much wastage of time. Very rightfully - this lender HAS ZERO customer service. The manager was as worse as it can get. She did not want to check any records. She asked the dates and time I spoke to the customer service department 9-10 months ago? How would one remember the dates when you have talked to their customer service department? Does she remember what she ate 10 days ago? How many people really write and record all the conversation dates they have had with someone during the year. I talked to the customer service people frequently. I sensed they are unethical from day one when they started slapping junk fees with no knowledge. If I were to deal with an ethical company - they will never ask such un-practical questions.
This kind of lenders are a shame in the Finance Industry.

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8:46 am EDT
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Balboa Capital lease contract

We entered into a lease agreement back in 2012 with balboa capital. We paid out the lease early because the equipment is no longer useful as inks and parts will no longer be available.in trying to get a comparison between the buyout price (Fair market value) and the cost of shipping it back, they stalled until the automatic renewal took effect. We did not send a certified letter of intent 180 days out. Although we did not send the letter, nowhere on the lease agreement do the list an address to send such letter to. They knew what our intent was, but the rude lady can only say that they do not know because we didn't send it in a certified letter. This is a very underhanded way of extorting money from small companies who cannot legally afford to fight them.

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12:07 pm EST

Balboa Capital leasing

This company is very deceitful and apparently doesnt care about their clients opinion of them, look at all of the negative reviews. I urge no one to use this company and as a business community we push to put them out of business. I warn everyone about section two in their agreement.in there they have the discretion to pick when the lease starts and require a pro-rated amount to bridge from the date of payment to the actual lease but they never say what that amount is or the actual commitment date they they continually refer to when I call them. Thus you end up paying more than the terms that are posted in the lease terms and conditions. Additionally, they have your bank account info so you have zero recourse. I have spoke with people in their office and this is s. O. P. And the answer is always, read section 2 in your contract. I made the mistake of trusting michael della. This mistake bumped my interest rate from 11.7% to 17.4%. I am leaving complains all of the internet and I hope that everyone that has had the same issues does the same. I have learnt my lesson and I don't want anyone else to be taken advantage of like I was.

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1:20 pm EDT

Balboa Capital unauthorized charges and triple purchase amount buyout

This is my second complaint against balboa capital. The first complaint is them charging over $2000 in fees not disclosed at the time of the lease. Account representative, brenden gibbs, told me their would not be an early termination fee. I just got a payoff letter that was three times the amount of the equipment leased. They drafted $75.00 from my account 7/15 with no invoice or reason. Then 16 days later charged a $250 late fee because they said a stop payment was issued 5/5. I did not issue a stop payment, my bank says there was no stop payment and there was no difference between a "manual draft" done on 7/16 and an "automatic draft" done on 8/1- as the customer service representative, anthony espinosa said. I have included the buy out letter they sent me. Beware! Balboa capital is the devil. Never lease from this company.
I want out of this lease. I want a payoff equal to the amount paid on the equipment minus what I already have paid them. I want them to stop preying on small business owners.

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4:23 pm EDT
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Balboa Capital predatory fraudulent loan

Customer No: 161229
Lease No: [protected]

To Whom It May Concern

My Name is Dr. Mehran Tavakoli, and I have two offices in Portland, OR and Vancouver, WA. About 4 months ago, I decided to upgrade one of my medical lasers at my office through a vendor ( Cutera, Inc. Pleasanton, CA) towards the end of March 2016.
Since I knew that gettinga loan for almost $78K would be a lengthy process through my own bank, I decided to explore financing options put forward to me through Cutera Inc. They offered a company to me called Balboa Capital, which i was not familiar with. They assured that this is a good company to work with, and they have favorable terms. The contract I was presented was a copy that had been copied multiple times with illegible very fine print. I ; therefore, relied on the promise and the explanation of Cutera sales rep to explain. Here is what I was presented:
1. The term of the agreement is a 5 year lease with a $1 buy out.
2. The APR is 8%.
3. At the end of one year, it is possible to pay off the balance of the loan without any extra penalty or interest on the balance of the loan. Basically at one year I could make a balloon payment and buy it out with just one year of interest payment on the total principal.
4. The initial 3 months of the loan would be $0 per month, and payments would start from month 4.

About two months into the loan I realaized that this whole thing has been a very deceptive scheme, probably plotted by Cutera to make a fast sale, and with big collaboration form a bunch of dishonest loan sharks called Balboa Capital.
Here is what I found out:
1. Customer service is almost non existent. I called and emailed multiple times. Out of every 3-4 times trying to reach them, they would just answer very briefly to the effect of " no...we can't do that...or some other sort of denial. My biggest concern was that at 2 months, I had enough money to make a big balloon payment. A person that sounded Hispanic on the phone ( after many unsuccessful phone calls) told me that it's not the way they work. They do not accept balloon payments, as this is not a "run of the mill" typical loan! Then, what kind of loan is it?
They do not clarify (even after formally requesting it) to break down how much of the payment is the principal and how much is the interest!
2. They are asking that if I wanted to make a balloon payment, I had to pay the entire 60 months worth of the loan and interest payment AGAINST our initial agreement.
3. They do not even honor paying just one year of interest at the first anniversary of the loan, plus the balance of the principal to buy out. After many phone calls and threats of lawsuit, they are now offering a "discounted interest rate for the balance of the loan plus the remaining principal". This was NOT my agreement with them. They are not supposed to charge ANY interest at the first anniversary buy out on the balance of the principal.
4. Despite many requests to clarify how much of each installment is athe principal and how much of it is the loan, they refuse to clarify. My guess is that they want to interpret the first year of the payment as "ONLY INTEREST".
5. With the current scheme they came up with, I would be paying close to 12% PAR for the first year if I want to buy out at 1 year. This is while my credit score is 800, and I could otherwise get the best types of SBA loans.
6. They have a clause in the contract that would ask me to either provide property insurance on the machine or they charge me insurance on top of the loan payments. Despite multiple contacts with them, forwarding my insurance documents and the endorsement to them, and even having my insurance agent contact them directly, they are making it impossible to use my own insurance. Basically they want me to pay an extra amount of insurance to them regardless of what method I use to prove I have adequate insurance and endorsements on the equipment.
7. After much back and forth with Cutera and Balboa, they sent me an addendum to sign with VERY VAGUE language they could take advantage of WITHOUT ANY SOLID numbers or rates presented. Basically they want to deceive me again with being very vague on purpose.
I am really sick of this company and it's corrupt abusive practices. I realized there are many unsatisfied people that have taken loans from them, and I would like to get a fair closure on this.
I would like to have the option of buying out at the end of the one year loan, with clear numbers ( principal plus interest monthly payments), with the originally agreed 8% APR only for the 1st. year of the loan, and buy out the balance of my principal at no interest ( as originally agreed) at the first anniversary of my loan. I would also like them to provide clear reasons why they keep rejecting my documentation of adequate property insurance coverage with endorsement to them. They will need to stop withdrawing "insurance" fees from my account.

Regards,

Dr. Mehran Tavakoli

CC: California Chamber of Commerce, BBB, office of California DA

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Knilja
, US
May 12, 2018 8:35 pm EDT

You deserve this in lieu of how you treated me as a patient. Sounds like Karma to me!

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1:51 pm EDT

Balboa Capital equipment lease

My issue is very similar to many who have posted. Our company set up a lease with Balboa for computer equipment. The amounts used were an estimate until the final billing was completed. Because Balboa insisted on paying the vendors direct (vs reimbursing us when the project was complete) we ended up with it costing less than originally planned. Balboa did not pay out all that was expected but kept our lease at the higher amount. I have called repeatedly to get this fixed but no one will return my call or take the effort to get it fixed. They are crooks.. do not use them.

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1:34 pm EDT

Balboa Capital their contracts are comprised in difficult and wrong for the customers' way

Guys, be aware of Balboa Capital Corporation. I have signed the contract with them, but it was comprised in very sophisticated way. The language was too difficult and even attorneys couldn’t find necessary details. Also, they indicated in the contract that all customers must inform them if someone wanted to move out. It should be done within 3 months in advance. And if the customer didn’t do it, they would ask him to pay for other 12 months of the lease. Read the whole contract and be aware of thepitfalls.

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5:48 am EDT

Balboa Capital the company changed the conditions of the contract and started to take larger sum

I have signed the contract with Balboa Capital. I got the credit from them and we agreed that they would take the same sum from me every month. At the beginning they did as we agreed, but 3 months ago they started to take larger sum. I called them and emailed, but the company refused to speak with me or provide any details of the contract. I still don’t understand why they have changed the conditions.

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1:35 pm EDT
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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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7:20 pm EDT
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Balboa Capital lied about $1 buyout and extra charge

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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acci
, US
Sep 30, 2015 6:57 pm EDT
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This company lied to us. We wanted to finance use equipment and were told at end of lease we were going to buy the equipment for $1.
we pay this company over $50, 000.00 and now they are taking the equipment back and telling us if we want the equipment we have to pay fair value.
That woman Jaclyn is the worst person we ever deal with. She is rude, disrespectful and treats people very bad. She won't even return our calls. This is the worst experience ever! if anybody knows about a lawsuit against balboa capital please let us know. We want to joint a lawsuit against this fraudulent company.

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Next Leve lMedia Group
Holbrook, US
Feb 13, 2015 3:38 pm EST

Your stuck, I just made my last payment on a printing press that cost me $55, 000 I called Balboa to ask for a buyout letter or where to send equipment if buyout was too much. They gave me the run around came back to me stating that I didnt notifie them 160 days prior
to lease end so they are trying to make me release for another 12 months @ $1400 pert month or I can buy the press for $22, 000 and still be responsible for the additional 12 months of payments. My lawyer called there office this week and no one return her calls.

Let me know how you make out I'm thinking class action suit might not be such a bad idea.

Best Of Luck!

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1:17 am EDT
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Balboa Capital - beware of scam!

Do not lease anything from this company! We bought a business in 2006 and decided to add a piece of equipment which was priced at $12, 000 in january 2009. We had an offer letter from balboa capital and decided to give them a try. Bradford j. Williams was the account executive and everything was relatively easy and sounded great. He told us on multiple...

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12:25 am EDT
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Balboa Capital high fees

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

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Balboa Capital
Balboa Capital
Costa Mesa, CA, US
Sep 08, 2011 10:46 pm EDT
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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

Balboa Capital
Balboa Capital
Costa Mesa, CA, US
Sep 01, 2011 10:18 pm EDT
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Hi Mr. Abrams,
We just came across your post and it is unfortunate that Balboa Capital didn’t meet or exceed your expectations. We’ve been in business since 1988 and have many thousands of satisfied customers. But in the rare event that a customer isn’t fully satisfied, we listen to them and do our best to resolve their issue as soon as possible. And that’s what we want to do with you. Please email us at customerservice@balbloacapital.com, or call us at [protected]. We are confident that we can regain your confidence so we can serve your financing needs again in the future. Warmest regards, Balboa Capital.

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4:59 pm EDT
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Balboa Capital lied about $1 buy out

My husband leased business equipment thru Balboa Capital and this was his first lease for a new business he opened and the sales person told him there was a $1 buyout but the contract stated fair market value the equipment depreciated and was selling for under $3, 000 at the end of the contract Balboa Capital wanted $10, 000 at end of lease my husband was active duty military at the time and was serving in the MiddleEast so he contacted them to return the equipment and could never get anyone to call him back they eneded up filing a judgement on him which is against the Servicemembers Civil Relief Act we are working to get his judgement overturned and hiring a lawyer to sue them for placing the judgement on my husbands credit. I would never use this company they have a huge bait and switch policy

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Randy Ly
, US
May 06, 2014 9:42 am EDT

We are currently going through the same exact experience with Balboa Capital. We were lead to believe we were signing up for a $1 buyout of the equipment we were financing but 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 on extra payment indicating it was interest payment for time they needed to set up our initial payment (which our 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 like the culture of their company. Anyone with any suggestion as to deal with this situation please contact me at "rly4444@gmail.com".

Todd Abrams
Todd Abrams
Paterson, US
Sep 08, 2011 9:41 pm EDT

i worked out an agreement with balboa and i withdraw my negative comments

Todd Abrams
Todd Abrams
Paterson, US
Sep 01, 2011 12:35 am EDT

bad people. i had a similer experience.

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5:33 pm EDT
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Balboa Capital not 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.

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tk5cttg
, US
Jul 28, 2017 4:57 pm EDT

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

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Bobbie16
, US
Feb 16, 2017 12:35 pm EST

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!

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mmrichman66
, US
Oct 01, 2015 6:26 pm EDT

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:

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vidsmith108
Fairfield, US
Jan 13, 2015 11:44 am EST

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.

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vidsmith108
Fairfield, US
Aug 14, 2014 10:41 am EDT

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.

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madamfab21
Duchesne, US
Jun 09, 2014 3:02 pm EDT

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...

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Derek T.
Irvine, US
Jun 04, 2013 12:27 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

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.

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CIndySmith
, US
Mar 16, 2013 2:32 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

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?

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DisgustedBalboaCustomer
Haverhill, US
Feb 11, 2013 6:35 pm EST
Verified customer This comment was posted by a verified customer. Learn more

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.

Balboa Capital
Balboa Capital
Costa Mesa, CA, US
Sep 08, 2011 10:48 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

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

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Contact Balboa Capital customer service

Phone numbers

+1 (888) 225-2621 +1 (949) 756-0800 More phone numbers

Website

www.balboacapital.com

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