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Five Point Capital San Diego / Deceptive Business Practices

1 San Diego, CA, United States Review updated:
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Beware, business owners, human beings...If you are breathing any air and alive BEWARE OF THIS COMPANY!!! This is the most crooked company in America. I own over 50 commercial vehicles with one of the largest transportation company in California and got tricked into using the company who calls themselves a bank. I don't know how anyone who works for this company even sleeps at night knowing how big of crooks the owners must be. Sent me a $100K pre-approved credit line to go find a vehicle and make a deal on it. Made the deal for a $100K vehicle and paid them $160K dollars in payments over 5 years at a 19% interest rate. Five years later they tell me I was just "renting" the vehicle from them and I need to buy it from them after the appraise it or they'll auto renew me. Stay away these guys are the biggest thieves and crooks in business. I now see on page 3 of their small print contact where they paid some expensive lawyers to write up these rip agreements.. These guys should be shut down. I can't explain what it's like to feel like someone is legally ripping you off and they know it!!!
This company has over 63 complaints filed with the BBB in just 2 years since they've been members. They must know someone there or something because somehow they still have a A+ rating with them which doesn't make any sense. They also have numerous reviews online from clients who got ripped off...it's obvious they have hired some illegal PR firm to get them some positive reviews because they look so fake..

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Comments

  • Ti
      24th of Apr, 2012

    I've recently had the exact same experience. My daughter is an attorney in San Diego. She's researching our legal options. Have you filed a complaint with BBB? I was surprised as you that they have an accredited rating.

    +2 Votes
  • Mi
      16th of May, 2012

    We would very much like to talk to anybody out there that has successfully dealt with this deceptive company. We are at the end of our lease and they have already started taking money out of our account for one more YEAR! Has your daughter come up with any options yet? I checked the BBB and it doesn't show any complaints. Can this be right?

    +1 Votes
  • Js
      30th of May, 2012

    Five Point offered me a "membership" and line of credit. I smelled rip-off right away and passed on it and It doesn't surprise me that the BBB few complaints. My experience as a business owner for most of the last 35 years is that the Better Business Bureau and Chamber of Commerce protect their own and damn the consumer.

    +1 Votes
  • Un
      9th of Nov, 2012

    They did the same thing to me! This is a first class ripoff company!!!

    +1 Votes
  • So
      20th of Sep, 2013

    Our small family business here in Hawaii is going through the same as Brandon, Five Point Capital is literally "taking the food out of my children's mouth!" We are interested in joining any class action lawsuit against this company. Please advise. [protected]@aol.com

    0 Votes
  • St
      4th of Oct, 2013

    I'm going through the same thing right know. I made my 48 payments completing my obligation, so I thought. My $1.00 buyout has become 30k. I'm currently going through the legal system to try and resolve this. If anyone has had any success fighting these criminals I would love to know about it.

    0 Votes

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