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WhyNotLeaseIt / it is an illegal scam!

1 Glassboro, NJ, United States Review updated:

I visited my local sears appliance store in october 2017 after my refrigerator broke down. I have 3 children and caring for a mother with severe dimentia. Money is tight to say the least. It was columbus day weekend and to my pleasure there was a big sale going on. I proudly puchases a refrigerator on the lease purchase program offered to me. The salesman, louis frantz, never mentioned that there would be an "end of lease buyout offer". He simply assured me that I can pay for my refrigerator in 5 monthly payments, the first that would be paid on that day. I signed up and was very excited. I promised to come back in february after my last payment to purchase another appliance as this was so easy for my tight budget. Now tha ive kept my promise, made all of my payments - I went online today checj everything was paid in full. When I logged into the account it shows future payments to infinity of $268 a month. I called and thought it was some type of mistake. I was then informed (buy a very fresh fiancing company) that I am locked into lease my refrigerator forever! They told me that it is against the law to purchase through a lease program! I marched right back into the sears store where it was puchased. Of course "loius" wasnt working today but the other manager suggested I call to haggle a buyout price. I called again and was quoted $938 with a 29.9% interest rate!!! I am out of my mind. L asked them to come pick the item back up immediately. I will live out of a cooler!! They told me that would take at least 30 days! Sears did nothing to back me up or help me. They are fraudulently advertising their items as "lease it. Love it. Own it". I have to now close out my bank account because all of the complaints I just researched online warned that this company will never stop take ng money from my account! Stay away from sears!!! No wonder they were bought out by k-mart!!! I am calling this into our area news station so they can do a special report on this scam and the public will be aware!!!

Feb 22, 2018
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  • Co
      22nd of Feb, 2018
    +1 Votes

    You are either lying or just plain stupid. You really thought 5 payments and you owned a refrigerator? Did you bother to do the math? And no, they wont take the payments out forever, you just need to call them to buy it out. Its even on your receipt! And of course it is high interest! Its for people with bad credit or no credit!

  • Sh
      23rd of Feb, 2018
    +1 Votes

    It sounds as if there was a little confusion over the lease agreement and what the term "lease" actually referred to. Was the terms placed in writing?

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