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Five Point Capital
Five Point Capital Pokes Fun At Deceived Customers San Diego, California
15th of Nov, 2010 by User354884
I used to work at Five Point Capital as a Funding Coordinator. I left the company once I realized how shady these people were, and haven't looked back. However, I recently stumbled across a photo taken at Five Point Capital's Halloween party last month and wanted to share this with anyone who has been scammed by this company.

This is a pumpkin that their payoff department created for a pumpkin carving contest that Five Point Capital has every year. At first glance, it seems relatively harmless. However, you will notice a few items placed around the pumpkin that speak volumes about how they perceive their customers.

First off, the pumkin is carved to look like a cheeseburger. The flag sticking out of the pumpkin labels it a "$1 Buy-Out Burger". Off to the side, there is a bottle labeled "FMV Secret Sauce"...the FMV stands for "Fair Market Value", which is how they secretly sell most of their $1 Buy-Out leases. In other words, they tell the customer that at the end of the lease they own the equipment for $1.00, when the lease is actually set up as a Fair Market Value buy-out.

In front of the pumpkin sits a bottle of Tums that reads "Renewal Relief". For those of you who have had your lease automatically renewed, you'll know what this is referring to. If not, let me explain: At the end of a "FMV" lease, you are obligated to notify Five Point Capital as to your purchase intentions (i.e. are you going to return the equipment or purchase it for it's "Fair Market Value"). You need to send a letter via certified mail at least 120 days before the lease ends. If you fail to send this letter, they will AUTOMATICALLY RENEW your lease for an additional 12 months.

The joke here is that most of these customers do not even realize that there is a buy-out at the end of the lease! Why would someone submit a letter indicating their purchase intensions when they are under the impression that they signed a $1 Buy-Out lease? The Payoff, or "Portfolio Management" Department was created for the very purpose of fielding these angry calls. All day long they explain to angry customers that they actually signed a FMV lease, and their lease has been automatically renewed for 12 months b/c they failed to send the letter 120 days prior to the lease ending.

Now that little bottle reading "Renewal Relief" doesn't seem to funny huh? These people are laughing in your faces...

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