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Fleetway Leasing Company / Auto Lease RipOff

1 336 W. Street RoadFeasterville, PA, United States Review updated:

I leased a vehicle (2000 Mercedes SLK 230) from Fleetway Leasing in 12/2007. A few months later, I began experiencing severe back and leg pain and was diagnosed with sciatic nerve damage due to a herniated disc. I was no longer able to comfortably drive the vehicle. I contacted Fleetway, explained the situation and asked if I could swap the vehicle for another car that was driveable with my condition, ideally an SUV. Of course, Fleetway did not care. They said the vehicle was worth only $5, 300 and I would have to pay them $6, 000 to get out of the lease. I would then have to pay them another $4, 000 (approx.) to get into another lease for an SUV. Edmunds.com valued the car at $11, 200 dealer retail and $9, 800 third-party retail. Again, Fleetway did not care. The rep at Fleetway told me that I could try to sell the car myself. I then asked for a payoff amount. Fleetway said it was $12, 300 and that the interest rate they charged under my lease was 16%. (The interest is not in the lease - not required by law!). I contacted an expert on auto leasing who did the calculations based on my lease terms and found that I was in fact charged an interest rate of 25%! and the payoff amount should be $10, 100. I found a website that shows you how lease payments are calculated and using their formulas, I got the same amount - about $10, 000. The bottom line: Fleetway is attempting to extort an extra $2, 000 out of me to buyout the lease. Fleetway charged an outrageous interest rate and lied about it when confronted! NEVER DO BUSINESS WITH FLEETWAY LEASING!

Ed
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Comments

  • Tr
      6th of Aug, 2010
    0 Votes

    Fleetway Leasing screwed me three times! They are a bunch of scumb bag liars just looking to scam you in the end for your money! They reossed my car one month before the lease was up. While I only owed them one payment, they were covered and able to do this because after looking at the lease agreement, it said they could repossess without reason and sell your car! That is exactly what they did! Amazing! They knew the car lease was coming to an end and agreed to sell to me for about three grand at the end, but figured they could get more selling it in an auction and therefore...SCREW ME OVER...and land a [censor]ING repossession on my credit! This happened twice! I was a FOOL! Do NOT trust these people!

  • Tr
      6th of Aug, 2010
    0 Votes

    Warning! Crooks! Liars! Scam Artist! Do Not Buy at Fleetway! Warning!
    Unfortunately the above complaints are more than likely true! It's places like this that give small dealerships a BAD name. They woo you than they SCREW you! I was screwed by these people just like the guy true blood above. I had a merceedes lease and was screwed just like that. Took the car while I was asleep and sold it right out from under me! Doesn't sound legal? Well, it is if you don't read their screw the customer leases they give out. Read everything carefully. Do not go by your "relationship" with these people! That is their m-o. ..make you feel like part of the fleetway family and then BAM they get you with the total stab you in the back action! Check the Better Business Bureau! These guys have had bad reviews dating waaaay back!

  • Ed
      18th of Jul, 2011
    0 Votes

    I bought a good looking Audi 1999 with them, because it came with a new engine and a new (rebuilt) transmission, both with guarantee.
    After 2 months, the transmission broke down and informing them of this mishap, they told me to address myself to the company, that issued the guarantee. This company had meantime filed for bankrupcy.
    You might thing, that Fleetway wouldt step in now... But, no !!
    I had to pay $4250 for a new, rebuilt transmission and the Audi 1999 is costing me now $12000..
    Before ordering the rebuilt transmission, I went to some other nearby dealership, trying to trade in my car and they offered me $1000:", as a good neighbor" they told me..
    So if you buy a pre owned car, better look good at the guarantees-in general- and especikally with Fleetway Leasing!!
    Edward van Hulst, Phoenixville.

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