ComplaintsforCanon Financial Services, Inc.

• Initial Complaint

  10/27/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I entered into this lease agreement in good faith, believing that I was purchasing a machine from a certified dealer. However, I have since discovered multiple discrepancies and issues:1. The machine has been malfunctioning for the past 10 months. Despite being under a 1-year warranty, the manufacturer has been unwilling to address or fix the issue.2. The machine was sold to me by a dealer who, I later learned, is not certified by the manufacturer, Mutoh. CFS failed to verify the dealer's status before approving the lease.3. The dealer, being uncertified, is unable to provide the necessary training on the machine or offer any technical support.4. I made a hefty down payment to the dealer before purchasing the machine. However, CFS has no record of this payment. I am concerned about the whereabouts of this payment and require an explanation.5. The dealership's salesman assured me that there would be no penalty for paying off the machine early. This information was false and misleading, leading me into a deal under false pretenses.6. The lease document I signed lacks crucial information, including the total finance amount, APR, and other essential details. This omission appears to be a clear violation of the Truth in Lending Act (TILA).Given the above issues, I request the following:- CFS must halt all payments on the machine until a thorough investigation is conducted by the ************************ (FTC) and ********** banking authorities.- No late fees or penalties should be charged during this investigation.- CFS should liaise with the manufacturer, Mutoh, to address the machine's malfunction since it remains their property.- A detailed explanation regarding the missing down payment and the misleading information provided by the dealership salesman.****************************** Creations LLC

  

  Business response

  11/06/2023

  Good Morning,

  I truly apologize for the delay in responding to the complaint. I did reach out to the ***** on 11/01/2023 and we spoke over the phone and he followed up with an email.  It was explained to ***** at that time, Canon Financial Services,Inc. (CFS) is a third-party leasing company in this transaction.  The customer acquired the machine from an equipment dealer and entered into  a lease agreement with CFS to finance the machine. CFS purchased the equipment on behalf of the customer and leased the equipment to the customer for a monthly payment, with the option to purchase the equipment at the end of the lease term. The lease agreement has monthly payments of $436.12 plus applicable taxes for a term of 60 months, with a $1.00 purchase option at the end of the lease term. There were 2 payments totaling $872.24 due in advance at signing, which is set forth on page 1 of the lease agreement.
  

  According to the dealer, the $7328 down payment was applied to the invoice and reduced the amount financed. The amount of $7328 is reflected on the dealer invoice to CFS.
  

  This is a $1.00 purchase option lease. There is no penalty for prepaying or purchasing early, nor is there any discount.. The lease agreement reflects the number of payments and the amount of each payment before tax.
  

  Section 2 of the of the Lease Agreement states:  Payments shall be made without set-off or deduction, even if the Equipment malfunctions.

  This is a $1.00 purchase option lease. There is no penalty for prepaying or purchasing early, nor is there any discount.. The lease agreement reflects the number of payments and the amount of each payment before tax.
  

  Section 2 of the of the Lease Agreement states:  Payments shall be made without set-off or deduction, even if the Equipment malfunctions.
  

  Section 4 of the Lease Agreement states: "CUSTOMER ACKNOWLEDGES THAT CFS IS NOT A MANUFACTURER, DEALER OR SUPPLIER OF THIS EQUIPMENT, AND AGREES THAT THE EQUIPMENT IS LEASED AS IS AND IS OF SIZE, DESIGN, AND CAPACITY SELECTED BY CUSTOMER. CFS HAS MADE NO REPRESENATATION OF WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO THE EQUIPMENT, INCLUDING SPECIFICALLY ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE."
  

  CFS values Deen Creations LLC as a customer and has reached out to the manufacturer on the customers behalf.  I received a response back from Mutoh advising that they are going to the customers location today 11/6/2023. They are going to honor the repair and they will provide him with an authorized dealer where he can buy ink and/or an extended warranty.

  Thank you,

  ***********************

• Initial Complaint

  10/19/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  We have been a customer of ******************** for over 10 years now. We leased over 10 machines from them. In the last year or so, our leases have been expiring and one by one we have returned some of the equipment. Upon return of the equipment, following all their written instructions, we have received multiple invoices for thousands of dollars in charges. Some of the charges include maintenance and past due amounts. Since our lease agreements already include maintenance and other related matters, we have questioned why we are being charged extra. We also provided billing information showing that we have never been late on anything and we shouldnt be charged late fees, etc. These disputes have been going on for several months now. We were visited by a Canon rep, and when we questioned the charges, she couldnt explain them and said she will get back to us. Since then, she has cancelled three meetings with us, and has avoided answering the questions and explaining the charges we questioned. Last week, she had a person from their office in ** contact us, so he could answer our questions. We emailed our questions and requested explanation on the charges on the already expired leases, together with the late charges. He, as well, did not answer our questions and simply stated that equipment has been returned. We already knew that since we returned the equipment and again asked him to explain the thousands in charges for already returned equipment. He has not answered our questions, nor has pointed out where in our already expired contracts, we owe them money for the various charges. Still no answer. Meanwhile, they keep charging us late fees, every month.We have been going in circles for months now, and for some reason or another, Canon refuses to explain why, and under what contractual agreement, they want extra money from us.

  

  Business response

  10/25/2022

  Good afternoon,

   

  Thank you for your recent inquiry.  I contacted the customer on 10/20/2022 with a list of outstanding invoices that we have in our system that is driving the open late fees.  The customer responded on 10/20/2022 and wanted a break down on additional charges. On 10/21/2022 I replied to the customer and advised him that I need payment information on the open invoices in order to solve the root cause of the late fee issue and then can go from there to break down the additional charges.  On 10/21/2022 the customer replied and requested copies of the invoices.  On 10/25/2022 the invoices were provided to the customer.  This issues are still outstanding, however I have advised the customer that we are committed to resolving all of the issues that he presented.

   

  Thank you

  ***********************

  Customer response

  10/26/2022

  
  Complaint: 18245790
  
  I am rejecting this response because: the Canon representative provided the detailed invoices yesterday. Today, i returned proof of payments for the invoices. In addition, three of the invoices ******* sent, clearly state on the invoices not to pay them, as these charges are included with our monthly statements, which i provided to ******* to show all have been paid timely and in full, minus the late fees. I also provided copies of the emails from Canon representative, clearly stating NOT to pay the late charges because it was Canon's fault to cancel our ACH payments, and a second email from her to us, stating the late charges are resolved and removed from our account. The current Canon representative states that the past due charges originate from the late fees, which i provided copies of the email stating these were removed and cancelled over a year ago, but they keep charging late fees on the late fees.

  
  
  
  
  Regards,
  
  ***************************

  

  Business response

  10/28/2022

  Good afternoon,

  I advised the customer that the documentation was sent on 10/25. I was able to show him a time stamp.  However there was an issue discovered on Wednesday morning that all of my emails from Tuesday did not get delivered. I reviewed all of the invoices with the customer. The late fees have all been removed and the customer is in the process of remitting payment for the open invoices that are not in dispute.  The customer and I are still reviewing two of the return invoices.  The customer has been advised that his account will be monitored for the next couple of months. 

   

  Thank you,

  ***********************

  Customer response

  11/01/2022

  
  Complaint: 18245790
  
  I am rejecting this response because: we have reached a consensus on the open invoices. We are submitting payments today on the invoices that we agree to be valid, and upon Canon receipt of these payments, we will wait for a written confirmation that all accounts are current with Canon and there are no other open and past due invoices on their side.
  
  
  
  Regards,
  
  ***************************

  

  Business response

  11/04/2022

  Good morning,

  The customer and CFS have agreed on the amounts due.  CFS is awaiting payment in order to advise the customer that all accounts are current.  There is a follow up scheduled for next week.

   

  Thank you

  ***********************

  Customer response

  11/09/2022

  
  Complaint: 18245790
  
  I am rejecting this response because: we paid thousands of dollars as part of working with Canon to resolve items. We were promised that improperly charged past due fees and late fees would be removed, and today we received another invoice with late fees and charges for over $4,000.
  
  
  
  Regards,
  
  ***************************

  

  Business response

  11/10/2022

  Good afternoon,

  The customer has been advised that this was a timing issue. The past due ******* notice was dated 11/02/2022 and payment was not received until 11/03/2022 to clear the majority of the past due payments.  We are waiting for one more check to be received for the account to be current.

   

  Thank you

  ***********************

  Customer response

  11/16/2022

  
  Complaint: 18245790
  
  I am rejecting this response because:we received additional late notice fees dated 11/7 and 11/11, Company advised me that they are still missing one check from ** and thats why these late fees. Check cleared our account this week, so I emailed company and waiting on a response. 
  
  
  
  Regards,
  
  ***************************

  

  Business response

  11/17/2022

  Good morning,

   

  There is one check that CFS has not received which is why the customer received the late fees. The customer has been advised.

   

  Thank you

  ***********************

  Customer response

  11/18/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Regards,
  
  ***************************

• Initial Complaint

  03/14/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  To whom it may concern,This involves long overdue invoices we have with Canon Financial Services on these two accounts Customer / Contract # ****** Customer / Contract # ****** We were told NOT to pay them until issues were resolved. Now our D&B rating has severely dropped, and we are at a high risk of losing a contract with a new client because of Canon's neglect. We are two weeks shy of this issue being a year old.Canon employees I have been working with on this are:*************************** *********************** *************************** ************************* Probably dozens of emails have been sent regarding the various issues with the old leases (machines being returned), new lease, late fees, confusing invoices etc. Again, we were told to hold off making payments early on, because of machine return issues, then because on invoicing issues, now late fees, and very confusing invoices. The Canon rep. agreed that the invoices were very confusing as well and told me not to pay anything until we heard back. We are still waiting for replies to emails and follow-up emails.We would like ALL of the late fees waived, the two contracts merged as I was told they would do. A clear and concise statement of what charges are due (no late fees). Maybe even an early contract termination and removal, of a machine we no longer need at a client location.Most importantly, a letter from Canon to D&B explaining their neglect and responsibility in this matter causing our D&B rating to be severely affected and requesting it be restored to the rating we were at. Thank you,************************* ********, ****

  

  Business response

  03/16/2022

  Good Morning,

  Thank you for contacting Canon Financial Services, Inc.  I have reached out to ************************* and left a voicemail to discuss the two accounts in question.  I will follow up after we speak with a final resolutions.

   

  Thank you,

  ***********************

• Initial Complaint

  02/18/2022

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  We signed a lease agreement for a copier 5 years ago. Buried in the terms of the agreement was a requirement to notify them of termination between ****** days before lease end. No more than 120 days and not less than 60. There was no followup from either Canon Financial or their representative until after the 60 day window closed. The day we received the letter from them, we replied with a letter. Their response was it was too late, but they would ask their representative dealer if they would waive it. Twice they told me it was up too the dealer and twice the dealer said it wasn't. I finally got a supervisor on the phone who said the dealer has no say in it. Here I am stuck with a device I don't want for another year. This is HORRIBLE business practice. They are relying on the fact that after 5 years, nobody will remember to notify them during the window.

  

  Business response

  02/25/2022

  Good morning,

  Thank you for reaching out to Canon Financial Services, Inc.  We apologize for the conflicting information the customer received. Per the terms of the lease, the customer is responsible to notify ********************** of their intent if they would like to cancel the lease.  The letter that was sent to the customer was sent out as a courtesy and not required by state law or the terms and conditions of the lease.  Since the customer received the notification letter after the required notification period Canon Financial Services, Inc. will honor the customer's cancellation notice and will not hold the customer to the 12 month lock.  The customer has been notified.  Please let me know if you require any additional information.

   

  Thank you,

   

  ***********************

  Customer response

  02/25/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Regards,
  
  *******************

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