ComplaintsforQuality Equipment Finance
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
12/31/2023
- Complaint Type:
- Order Issues
- Status:
- Answered
My original loan amount was $67,040.76 executed on December 20, 2023 My Payoff Quote was granted on December 29, 2023 for $95,275.08 In 9 days, they want me to pay $28,234.32 in interest.This is my first time doing an equipment loan. I purchased with Enterprise. I didnt sign my buyers documents yet with Enterprise, I didnt sign my title, I didnt sign a Bill of Sale, I didnt even sign the warranty, but this company says my loan has still been initiated because they sent the funds to Enterprise. I didnt pick up the truck or even drive it off the lot. I asked enterprise to do the 7 day repurchase (even though I didnt sign the papers to purchase), and send the money back to this company. However, Quality Equipment Finance stated that they are not accepting the funds. They said I would have to pay the entire 54 months of interest on the account when ** trying to pay it off in 9 days. There is no payoff disclosure in their original document. You should be able to payoff any loan whenever you want, and any pre-payment penalties should be clear when purchasing the equipment. They are trying to intimidate me into doing BAD business with them long term. Im attaching documents for proof. I would like the bank to settle the account immediately for $67,040.76 that Enterprise will be sending to them.Business response
01/22/2024
Dear *******,
We apologize for any inconvenience this might have caused you. The sincere intent was to get you the equipment you needed and in a timely manner. The equipment finance agreement that you signed does cover a lot of material, which is why we capitalize in bold print the portion that states the contract cannot be canceled and states that all of the payments need to be made. In this case, however, we were able to work with Enterprise, who was extremely helpful and did refund our money. You, in turn, should have also seen money refunded to your account and the agreement has been voided,which we hope has resolved this matter to your satisfaction.
*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
1 total complaints in the last 3 years.
1 complaints closed in the last 12 months.