Evalon / Ladco Leasing — Excessive price gouging
I am pretty pissed off at myself, but more so with Elavon. I leased 2 terminals for my companies. 4 year agreement at $34.00 a month. So that should be $1632 for the lease. With an option to continue the lease or purchase for $400.00 So, that would be about $2000.00 for each terminal at a cost of about $4000.00. FOR A $300.00 MACHINE!
I have read alot of comments on this board about Elavon the parent company of Ladco Leasing. Yes we all were mislead and I cant even get a legible copy of my lease agreement from Ladco about how they calculate charges. But this month, for some reason I received an additional bill of $25.00 per terminal. I can not get an answer from Ladco on what the charges are for. Others on here say it is for taxes. What taxes? Federal? State? Tennesee Leasing Agreement Tax? Not sure.
I too have sent a complaint to the BBB about Ladco and Elavon. No answer or result in helping get out of a contract. I stopped using them last month and went to another company that offered a free terminal, free product support. But I didn't send back the terminal. I am keeping it and just paying the monthly fee so they cant collect and send the terminal to someone else. My fees increased because they wont apply my insurance letter I sent so now I pay $51 a month.
So in my effort to have an investigation of Price Gouging, I sent a formal letter of complaint to my Attorney General office. I suggest you all do the same. As a business owner, I to agree that we have to make some money to survive. But, when you are the company that is charging you a rental fee for the terminal, charging you $50.00 for paper AND collecting the percentage of sales? That is a little price gouging.