LeaseOne20,000 SCAM

1 Review updated:

LeaseOne franchisee is a scam and after reading other folks complaints I fell compelled to spread the word. LeaseOne makes approximately $2, 400, 000 per year that comes from signing up 10 potential brokers. Over the past year, President Joe Angelo has spent approximately $100, 000 developing a cool website to sucker you into thinking it’s a professional organization, its not!! LeaseOne has no capital of their own; repeat they have no capital of their own!!! LeaseOne puts the majority of their leases through another leasing company, First Financial Brokerage in Princeton, NJ. The owner of First Financial is Robert Searcy who is Joe Angelo's. Robert will take LeaseOne' deals that LeaseOne Brokers submit and try to get them approved by a leasing company he does business with, often times it will be Leaf Financial. If under rare occasion you deal is approved, Leaf Financial will tack on a fee, First Financial will tack on a fee and finally LeaseOne will tack on a fee and you'll be left with a 24% interest of which you'll have to add to make your profit. I say rare occasion because 9 out of 10 times your deals will NOT be approved, repeat the majority of your deals will NOT be approved!!! The person taking your calls for approval at LeaseOne is Rick Lopez. The only deals Rick will be able to get approved are for business in existence for 10 years with a 900 credit score. If its approved you'll have to try and sell to these people at 12% - 15% interest; they’ll laugh at you and call you a crook. Leas One’s business is not to write leases, it’s to sign up brokers/suckers like me who tried to put a few deals through, got rejected and walked away. LeaseOne is I n the businesses of selling the Broker program and they'll leave you high and dry once you finish the training in Boston. I worked directly in marketing for Leaseone in the Boston office for a few years so I know the inside track. All I can say is stay away from the scam.

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  • Mi
      Jun 30, 2009

    Wow, thanks for the tip off. I saw a similar complaint on [redacted] by another employss so I'll stay far away.

    0 Votes
  • Jo
      Jul 03, 2009

    King, I commend you on your honesty and willingness to step forward and warn others to stay away or this horrible scam. These folks should be ashamed of themselves.

    0 Votes
  • Co
      Oct 20, 2009

    I was told that all complaints are from the same person who is being prosecuted. Is this true?

    0 Votes

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