Dell Financial Lease Program

Dell Financial Lease Program

My complaints of Dell & Dell Financials out of Round Rock, TX: I’ve been trying to buyout my lease with Dell Financials early. However, Dell Financials is making it difficult for me to do so. Dell Financials insisted on the amount owed on the lease (I see no problem with this), their penalty (ranging from reasonable to unreasonable amount), and the current fair market value of the product (very unreasonable.) For example, a $10,000 lease for 3 years terms. I have paid 2 years off the principal at 15% to 24% interests range.

Dell would insist that I pay $3,400 principal balance (I don’t have a problem with this), $55 to $1,000 or more in penalty (I think it’s a rip off), and whatever the current fair market value of the product determined by Dell (complete rip off.) Dell would not disclose, discuss or negotiate how they determined their buyout price. Dell’s fair market value price for this particular lease is $3,500. So, if I want an early buyout on the lease, the price I would ended up paying would be nearly $20,000, double the original amount. Dell has already made their money through the sale of their product, the high interest charges, and still greedy for more by ripping you off with penalty and equipment charges. The reason why I wanted to buy out Dell early is because of poor customer service and the high interest charges. A good example of poor service would be my request to change the mailing address. It has been nearly 6 months and 24 calls to Dell, and the problem has not been corrected. Each call to Dell cost me from 20 to 60 minutes of my time, mainly for waiting to get through. I am tired of dealing with over priced product and poor service. I gave Dell nearly $1 million of my business within the past 3 years and I am not even being treated like a customer. Leasing a computer is not the same as leasing a car where there is more customer service, care, and concerns from the manufacturer. My recommendation for consumers out there: do not lease your computer equipment, buy them instead. You will come out way ahead financially and there will be less headaches for you to deal with. If you need financing, your local bank can offer you a loan at a much lower interest rate like 7.25% vs. 21% from Dell Financials. In addition, you will receive much better service and there will not be any penalty or current market value charges on equipment for paying it off early. For example, my $10,000 equipment lease mistake, I would be paying roughly $11,000 if I had bought it and financed through my bank. Instead, I will be paying Dell Financials $20,000 for this equipment. Do not insist on a Dell product. I have made this mistake for the past 3 years. Dell’s quality is not any better than their competitors, and their price is usually higher. Srun K

Bellevue, WA &#160 Click this link to e-mail the above consumer: Email User Consumer