1 /5 Anna Petrenko: Please, do not use them. Even as a last resort. They will trick you into a lease instead of a loan, and promise early payoff, but when you ask for a payoff quote 3 months later, they will ask for all of the payments. We put 35k down, financed 50k, and now, to pay it off, they ask 90k, and the down payment we put is irrelevant to that amount. And that is with 11k discount for early payoff
Thats right, 90k for borrowing 50k after 3 months of payments. The only reason we agreed, is because we were promised an early pay off to save on interest. And apparently, the interest isnt even legal, because its above the interest cap. And the worst part, is that this is a legal fraud, and you cant battle it in court, because commercial transaction dont have protections against predators. These are predatory fraudsters, who exist to destroy small businesses in the beginning. Wait, save up more, and get a real loan from a real bank.