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It's just a reap off, customer service has very bad attitude, you end up paying more than triple the value of the item you lease. I did it once and when i tried to buy out the furniture it was as if i was just going to the store and i had to pay almost full price (I had already made all my payments) i end it up paying $1000 for a $500 piece of furniture. Never again! Beware of why not lease it!
The complaint has been investigated and resolved to the customer’s satisfaction.
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Criminals. Org. dryer cost $418.00 with tax. Paid all terms bi weekly for 5 months = $525.00.Our buy out at that time was $226.00. Now the collection co. wants double that for a buy out and say we've missed $655 in payments! Stopped making payments and had to change bank card. Their "contract" is NOT clear and the Sears people have no clue how this company works! Shame on Sears Holding Company. Now this is in collection for $1200.00! You read that right. The collection company finally sent us a real contract, in which we never read or signed. NO INFO ON INTEREST RATES. just fees. They are trying to charge us the full 18months of payments which would have been close to $1200.00, wHO IN THEIR right mind would pay $1200 for a $525 pur.? I've contacting the BBB, but they can't do much. The contract the collection co. sent was totally different then the one we got at Sears. Plus someone needs to look into why Sears in not giving out store credit cards but pushing WhyNotLease it loans! Its a scam. Now i have to deal with Northland group the worst of the worst ran by LVNV Funding! Oh Boy, thanks Sears. CRIMINALS, SCAM
I went to buy cigarettes Friday morning and my card was declined. Turns out wnli hit my account 2 times not once EARLY Friday morning, like 3ish early cause I work at 5am. Its my last check before christmas and they screwed my bank account up so bad and I now have no money for Christmas shopping. I also agree that customer service is totally nasty! I didn't lose my cool at all to get crap but I give what I get...WATCH OUT FOR THESE GUYS...RUN AWAY AND FAST WITHOUT LOOKING BACK!
Retailworker05 makes a great point. Understanding what you are getting into makes a huge difference. I used WNLI after my Plasma TV quit back in April 2014. Needed a TV for the living room, but couldn't afford to just drop $600-$700 right on the spot. I looked at Aarons and Rent-A-Center (RAC) first. Anyone who says you are better off with them is off their rocker. On top of an exorbitant mark-up of the retail price of the item, you are going to pay about a 100% administrative fee. Basically, at Aarons and RAC, a new 50" LED HDTV was going to cost me over $3000 because they were marking the retail value of the merchandise up to at least $1200 and then tacking on an $1800 leasing fee. My monthly payment would have been about $160 through Aarons or RAC. RAC was going to hook me up really good though with a special deal...a $900 USED TV that would have also ended up costing about $2500 when all was said and done.
I remembered seeing something about a leasing program at K-mart when we were doing the 2013 Christmas shopping, so the wife and I went to check it out. Retailworker05 nailed it on the head. Using WNLI I bought a brand new Toshiba 50" LED HDTV that was marked down from $750 to a sale price of $550 ($590 after tax). I opted for the 28 day payments, so my payments came to around $89, the first of which I paid in-store that day to secure the merchandise. Took my brand new TV home with me that day. May, June, July, and August payments were made followed by a buyout in September at $298 which I knew was coming, so I had time to squirrel away $$$. So, all told, I basically paid non-sale price for the TV at about $745. Is this still a bit of a high mark-up? Yeah...probably. But only about $50 more than I would have paid putting it on an 18% credit card (which I can't get) and paying minimum payments for 24 months. Is lay-away better? Maybe. I would have only paid the sale price of $550, but I would have been paying about $275 a month to fulfill a 8 week lay-away pay-off, and I wouldn't have had my TV until it was paid off.
Simple fact of the matter is when you agree to this program, you are going to get a lease agreement with it. READ IT! There is some very important information, but no hidden fees. The lease agreement will tell you exactly when you can opt for the buy-out, and how much it will be. You need to understand that some of the burden rests with you. After the minimum 5 month term, you must call them and schedule the buy-out. If you don't, the monthly payment continues for 18 months, after which you must return the merchandise or buy out the lease. I was treated very courteously when I had to call Customer service because an ID theft issue made it impossible for me to make my scheduled payment until I secured a new Debit Card. They rescheduled my payment no problem, and even extended it out a bit just to make sure nothing would happen that might cause me to get hit with the $25 declined payment fee. Sometimes you reap what you sow, and hostility may be met with hostility. These Customer Service Reps probably deal with 1000's of people yelling at them everyday. Being an a-hole on your call may be the straw that breaks the camel's back.
I've already contacted customer service and gotten approval for my next lease to get my PS4.
This was nothing but a great experience for me.
Some people need to mind their own business. If you are looking for peoples opinions that is what they are giving you. Most people on this post feel the same way, so regardless of the price of the item the overall outcome is that the WNLI program is a fraud. This program lures people in and has hidden fees that are not disclosed, the customer service sucks and your better off going with Rent a canter or Aarons.
I think it is important for people to understand the way something works before they get involved in it. The main problemi see here which is leading to most of the complaints is people not understanding how the program works before they signed up for it. I think that the customer has to take some responsibility for not making sure they understood everything about how the program works before they got involved in it. First off if you sign up for payments every 28 days you make the first one in the store and then Why not lease it will debit your account for the remaining payment. After the fifth payment is debited from your account YOU have to contact Why not lease it and tell them you want to buyout the lease and they will give you the buyout price. YOu have to other options, return the merchandise or continue making the payments if you do not want to buyout the lease. I think some of you just assumed that after five months they will just stop taking payments out of your account which is not true. you have to contact them and let them know you want to buyout the lease or return the merchandise or they are going to keep taking money out of your account. I know that the sales associates probably should do a better job explaining this but the customer should also take the responsibility to make sure they understand how something works before they agree to it. I work for a retailer that uses this programs and try to make sure all the customers i help understands how it works before they agree to it but other co workers don't do a good job explaining it. A good example of how it works is if you lease merchandise that comes to $300 after taxes and you choose payments every 28 days, your payments will probably be around 50 of which you would make the first payment in store and the remaining four payments will be taken out of your account every 28 days. After the last payment is taken out you would have paid $250 with a balance of $50. I you want to buyout the lease you have to contact them after the last or fifth payment has been made and they will give you the buyout price which will be the $50 balance plus their lease premium fee which is about 40% of the total lease price, in case that would be 40% of $300 which is $120 so the total buyout amount should be $170 and the total amount you would have paid the merchandise after you make the buy payment will be $420 which is 40% more than the price of the merchandise.
Obviously, you work for the company. Thank you for your explanation AFTER THE FACT! All that you have written needs to be explained BEFORE signing the agreement not written on the receipt once you have paid for your purchase. The retail stores that use this leasing company know they rip people off. This is why they have a disclaimer that resolves them of any culpability in this SCAM!
That is not what is being said at time of purchase, and it would be in the best interest of the company when selling merchandise such as lease option to buy to explain. I as a professional immediately would think there is poor training skills and management, and your customers should not have to pay that prices of confusion. I think all of who have been misinformed and have dealt with the same issues through Wynot Leasing are intelligent individuals and should be respected as so. If you are employed through Wynot Leasing you should be asking your self if it's worth the lies to scam another individual based on misinformed information one employee may be saying and another employee may recognized it's incorrect. That is when you as a person with Knowledge on your organization should jump in. Clearly with all these negative and bad experiences you should see there is a big problem with the contractual explanation and it's not being appropriately explain. Bad service is scammed service.
My husband and I bought 2 flat screen tvs in November 2013 through the why not lease it program. We made our first payment at kmart then agreed to make payments of 111.00 for 4 months. So we called today as I noticed they took another payment out and have been for 6 extra months. We contacted them, they were very rude on the phone. I told them that they over charged our account by 777.00. Her response was in order to close the account we need to pay a buy out of 218.00. I told her great, *PHP Spellcheck Trial* can keep the 218.00 out of the 777.00 *PHP Spellcheck Trial* owe me, she said sorry it doesn't work like that, we don't owe *PHP Spellcheck Trial* any money and we will continue to take the 111.00 until the 218.00 is paid. This is a huge scam! Do not use why not lease it.
I don't understand how this company is allowed to rip people off, and get by with it. They are charging over 100% and getting by with it.
WHY CAN THEY AND A LIMIT IS SIT ON CREDIT CARDS, AND LOANS.
I bought furniture that was $600-$700 through wnli in December 2012 and I am still paying for it. I've paid almost triple the amount with a buyout of $253. I really didn't check my account because on the contract it states the last payment which would have been February 2014 but I'm still being charged. My advice... stay away.
Personally I just wanted to buy a tv for $320 at Sears and I had the cash for it, but they let me know about the lease and it made me think "oh I can use this opportunity to build my credit!" So the guy explained to me that there were 5 payments and one last bigger one. Well I kept paying and that last one came and they just kept on charging and charging my account after that. I've now payed $946.91 pretty much TRIPLE the amount of the original price. They called me and told me that I had one last payment just last month after I complained and they JUST charged it AGAIN today. Please do not use Why Not Lease It! I know you probably won't listen to me but they are still charging my account today.. I'm starting to think about sueing the damn company. I found out that theyre new also, just established in 2009. They're going to end pretty early. Beware guys!
I used WNLI to purchase a new riding mower in June 2013. The original lease amount was $1100. Although I couldn't pay the buyout amount at the time I contacted them and told them I wanted to return the mower as per the lease language so that I wouldn't end up paying $3300 over 18 months. They very quickly offered me a buyout of $397.30 in two payments, February and March, which I accepted. I contacted WNLI after the final payment March 10, 2014 via email and received a response stating the contract had been satisfied and I would receive a confirmation letter of payoff within 30 days. Unless they attempt any further account debits, I had a very good experience with them. I ended up paying about $1600 total which is high but no higher than using one of the rent to own places to purchase tv's, furniture, etc. This is the actual email response I received from WNLI; You are correct. The payment set for 3/10 will be your final payment. Once that payment clears the account will be satisfied and no further payments will run. You will receive a letter stating you have completed your lease within 30 days from the final payment. If you have any further questions please let us know.
Thank you,
Customer Service
WhyNotLeaseIt, operating Under The Sears Name is a FRAUD. SHAME ON SEARS FOR TAKING ADVANTAGE OF YOUNG CONSUMERS WITH NO CREDIT. MISLEADING INFO. AND MISLEADING SALES REP'S.
I am reading the complaints and I am like, how can I take some of them seriously when I see statements like, THEY
"REAP" PEOPLE OFF!" REALLY, people? The word you are looking for is "RIP", but the minute you say something, people get offended and shout, "WELL, I KNOW WHAT I MEANT!" That being said, I am VERY LEERY of your complaint! I am currently researching all I can about this program before I decide to engage in it.
They really do rip you off. I am a school teacher and my spelling is excellent! DO NOT LEASE FROM THEM!
I found out about Why Not Lease It because someone used my personal information to lease furniture in A different state than my home address and Why Not Lease It opened account with them without being suspicious about the person and after I sent in Affidavits and police reports the collections department acted like I was responsible for the account because it was in my name even though I wasn't the one that opened the account and then they sold account to another company instead of closing it out and charging it off and I had to send affidavits and police reports to new company I didn't even know of Why Not Lease It until this happened
I understand by using a company such as Why Not Lease It, I was going to pay more for the merchandise than when I could purchase it for if I bought it outright...That being said, I made all of my payments on time and made final "buy-out" payment. Four weeks later, Why Not Lease It debited my bank account three different times within two days for a total amount of $320.81. After calling Why Not Lease It numerous times and being on hold a minimum of 30 minutes each time to speak with someone, I was then transferred from Customer Service to Billing back to Customer Service and back to Billing. No one could tell me why my bank account was debited. The only explanation I was given was that I must have missed payments somewhere. I attempted to explain that no payments had ever been missed and that the final amount paid was the buy-out amount. The Billing Supervisor by the name of Bill, was rude and kept talking over me. I patiently waited for him to quit speaking and requested that he allow me to fully explain my sitation and Bill told me he was not required to listen to me and that I did not know what I was talking about. Bill then disconnected the call. I immediately went to my bank, filled out dispute forms for the most recent debits and had my card cancelled and a new one issued. Please be weary of Why Not Lease It...STAY AWAY. Find alternative options or save your money and wait.
This is the same thing that happened to me...I was told that I didn't have enough in the bank to cover my bill... So they charged me the current bill due. I was charged for a bill that I had already payed the week prior. I was them charged a late fee and when I desputed insufficient funds idea with actual documentation, they hung up on me and charged my card the late fee anyway...In a matter of 3 weeks, I had four separate charges and I was only suppose to make payments once every two weeks. I suggest people save their money if possible and buy it cash...
The first person was right I made my payments on time every month for 5 months and my purchase price was a little over $500.00 and end up paying triple for it. At end of the of my 5 months I buyout was $330.00.So I ending paying over 800.00 for a $500 purchase. And I'm like you never again will I purchase any thing from them again I would go 90 days same as cash first.A little more down, but it you know when it will be paid off and not paying triple.
I agree that the customer service could't be better but as far as value... if you pay your scheduled payments on time (like I did) there is NO WAY a $500 lease will cost you $1000.00, I think I paid $760 and owned the product in 6 months. Sure I paid $260 above the %$500 but hey... I was in a pinch and they had the BEST program! And by the way $1000 on $500 would be double NOT triple the cost.
terrible, rude customer service, they misrepresent their company to lure customer, make sure read the contract, scratch that, would advice anyone to stay away from this company, you would end up paying triple the price of item
I am completely with you on this! Kmart completely deceived people by not explaining their terms on the lease it program, after sitting here for hours trying to figure out how the hell I am still making payments on a 500.00 purchase and then seeing the remaining payments owed, they are getting away with charging people over thousands of dollars on an initial purchase of 500.00! This is ridiculous, and further more I believe they are doing this for their own personal gain due to their bankruptcy [censored]! We could have paid alot less at a rent to own company... They were completely deceiving and I truly do believe we should all file a Lawsuit against them! Taking advantage of people that cannot out right afford the things we need in the first place. Paying over $1000.00 more than the actual cost of the items... :(