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WhyNotLeaseIt / payment lease agreement

Review updated:

Before I contact the BBB. I thought I would try to find some resolution here. I bought some tools and a tool box for a total of 900 and some odd dollars. I've already paid well over 1100 dollars and when I spoke to a representative today he told me i would still have to pay over 500 dollars if i want to buy my tools. He then informed me it is not a rent to own lease. This is the first I heard about this. Your practices are shameful at best. This was not how the agreement was presented to me. I expected it to be paid in full after 20 or so payments. Your ads and web site are misleading. the large number of complaints filed are an indication you may be doing business without taking your integrity into account. I would like to pay off my lease and end our relationship with your company. however i would like you to come up with a buy out that is fair to both you and I please advise as to how you can help this very disgruntled customer.

Ca
Jan 17, 2019
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Comments

  • Km
      Jan 17, 2019

    They already presented you with a buyout that is fair, given the contract you signed. Their prices maybe high, but the second you signed the contract the buyout amount became fair. It's simple mathematics and they don't hide it at all it's all public record. Payments are 9% every 2 weeks or 18% every 4 weeks at the end of 20 weeks you will have paid 90% of the original value. The buyout at the end of 20 weeks is 55% of the original value making the total amount paid after buyout to be 145% of the original value . After 20 weeks you can discontine the lease by turning over the items being leased and you will no longer be responsible for lease payments or you can continue the lease by making the lease payments at 9% every 2 weeks or 18% every 4 weeks and should you choose to buyout the lease later the buyout option will reduce by 1/2% every 2 weeks or 1% every 4 weeks. After having the lease for 148 weeks you buyout option will reduce to the same amount as you lease payments and you will actually own it at 756% of the original value. It's all public information though Why not Lease it actually present this information in spreadsheet form which its probably easier to understand in visual spreadsheet form then it is in written or verbal communication.

    -1 Votes

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