Complaints

• Initial Complaint

  01/30/2025

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  In May 2022, I purchased a Red Digital Cinema 1 V-Raptor Pack for my music and film studio, ********************* Although the equipment was financed through *************, they transferred/assigned the agreement to Financial Pacific Leasing. I have been making monthly payments of $1, ****** since 2022. Financial Pacific provided a payoff quote of $30, 322. 68. I considered this amount unreasonable given the cost of equipment (i.e., $ *********) at time of purchase, the total amount of payments made through July 2024, and the equipment's fair market value. I contacted Financial Pacific and they provided a counteroffer of $23,957.77. Again, I considered this amount excessive and unacceptable for the aforementioned reasons. I have been making monthly payments diligently to date. However, I am asking that Financial Pacific offers a fair and reasonable payoff quote. Additionally, the contract terms were misrepresented at the time I entered into the agreement since financing rates were not disclosed and were not included in the contract. I have inquired several times with Financial Pacific about the interest rate and it has never been provided to me. Based on the payments I have made until the date of the last payoff quote offered by Financial Pacific in October, the cost of equipment (i.e., $ *********) at time of purchase, and the payoff amount that they offered, the finance rate appears to be over 24 %. This is an excessive and unfair rate that can be challenged as predatory lending practices/usury. None of this key information was disclosed to me at the time ************* assigned this matter to Financial Pacific and I signed the agreement. Lastly, *********** (Financial Pacifics parent organization) and Financial Pacific deceptive practices are not unknown as multiple customers have posted negative reviews and filed claims.

  

  Business response

  01/31/2025

  Hello - Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. We partner with third party originators and ******* to provide innovative commercial equipment financing solutions for business customers. ********************** provided the equipment financing in accordance with the terms and conditions agreed upon by the third-party originator or lessor, and yourself. While we do not offer standard consumer principal & interest loans, Financial Pacific Leasing does provide commercial equipment financing options, along with commercial equipment leases. Please review our Leasing and Equipment Finance Agreement FAQs. This document provides an overview of the contrasts between these products and is located on our website **************. Management will perform a review of your account and promptly provide a written response. Our desire is to meet the needs of our customers, in a fair manner, and we thank you for your patience as we thoroughly investigate your concerns. 

• Initial Complaint

  01/07/2025

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  This company was supposed to be financing a piece of equipment for my woman owned company and they vetted our first machine and didnt like the seller so they decided that we should find another machine, we did, they vetted and approved the purchase only to find out that the machine was a scam?? During this time they took $1803.46 from our company on November 8/2024 then an additional $100 days later for a installment payment for the first month, so they have received $1903.46 from us, and we have NO machine, and the financial loss, and they have taken so long we have since lost 2 jobs that we were able to get, which would have been over $38000 for our company. They have our funds and we are unable to get another Excavator due to this situation. I would NOT recommend this company for anything, they ignore emails, calls, and continue to say we are working on it? It been 2 months now and they are still working on it? Took 2 days for them to get our money? I am now paying attorney fees and I feel that I will have to sue for the initial refund and now lost money due to their incompetence and negligence.

  

  Business response

  01/07/2025

  Hello,

  Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. Our desire is to meet the needs of our customers,in a fair manner, and to provide each of our customers with the best experience possible. We regret that your experience with our company has not met your expectations and apologize for any frustration or inconvenience. Management will perform a review of your account, including the communication records, and promptly provide a response. An initial review of the account does indicate that we are aware of the situation and working on the request.  We thank you for your patience as we thoroughly investigate your concerns.

• Initial Complaint

  11/04/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  In February 2024, we purchased a mini excavator ** for $28,400. We wanted to refinance with our local bank and called for a payoff and the amount was $56,000. Unbelievable. We make $1215 every month since March 2024 to ***. So...about $75,000 total on a $28,400 agreement!!!! We thought we were purchasing the excavator. There was never mention of a lease. ********************** assured us everything was in proper order the day we signed the "lease". We did it at our home, so there was no video or recording made of the transaction. At no time during any conversations were we informed about those actual numbers. We've been in contact with *** on numerous occasions, to no avail. Or in one case, we just got a "sorry". Impossible. I don't know who to be more angry at. Our indebtedness to *** is huge, so I guess trying to deal with them is our only alternative.

  

  Business response

  11/04/2024

  Good Afternoon - Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. We partner with third party originators and ******* to provide innovative commercial equipment financing solutions for business customers. ********************** provided the equipment financing in accordance with the terms and conditions agreed upon by the third-party originator or lessor, and yourself. While we do not offer standard consumer principal & interest loans, Financial Pacific Leasing does provide commercial equipment financing options, along with commercial equipment leases. Management will perform a review of your account, as well as reach out to our partner for information on the origination process, and promptly provide a written response. We thank you for your patience as we thoroughly investigate your concerns.

• Initial Complaint

  09/16/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Upon purchasing a vehicle from ********** located at ***********************************************, Trucks VIN: *****************, I was told that the vehicle price was $39,775.00, and I was approved for financing with Financial Pacific Leasing. This was the amount that I was told would be financed for the vehicle that I purchased from. Upon reaching out to Financial Pacific Leasing for a payoff quote. We were sent a response on Aug 13, 2024 that the payoff quote for the vehicle would be $69,403.01. This value greatly and tremendously exceeds the cost and value of the vehicle. Upon speaking with a representative of Financial pacific Leasing, no one was able to assist me in correcting this manner. I was told that I was given an equipment installment loan, but not an actual vehicle loan. I was also told that the amount of payment that was listed on the contract was 60 payments at $1,270.06 each payment, totaling $76,203.60. I was never made aware of the fact that there was 60 payments on the loan for the vehicle. The representative at Financial Pacific Leasing informed me that there was nothing that she could do because the paperwork stated 60 payments, However it also stated the cost of the vehicle at $39,775.00. It seems very unlawful that I owe Financial Pacific Leasing so much more money that I initially agreed upon with the dealership which was that I would be financed $39,775.00. I am being financed for a vehicle but being required to pay much more than the vehicle is actually worth.

  

  Business response

  09/17/2024

  Hello,

  Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. We partner with third party originators and ******* to provide innovative commercial equipment financing solutions for business customers. ********************** provided the equipment financing in accordance with the terms and conditions agreed upon by the third-party originator or lessor, and yourself. While we do not offer standard consumer principal & interest loans, Financial Pacific Leasing does provide commercial equipment financing options, along with commercial equipment leases. Please review our Leasing and Equipment Finance Agreement FAQs. This document provides an overview of the contrasts between these products and is in the ************************ on our website **************. Management will perform a review of your account and promptly provide a written response. Our desire is to meet the needs of our customers, in a fair manner, and we thank you for your patience as we thoroughly investigate your concerns. 

• Initial Complaint

  08/21/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Use a guy from another company to find a lender for a piece of equipment for our business. We wanted a loan for $30k. They had us sign everything and didnt send documents showing what would be paid with the payments each month. We paid $1600 each month the last year on loan yet still owe $35k! They charge you a tremendous amount of fees and dont tell you. We should have our loan almost paid off yet we dont and are screwed. This company is absolutely horrible. They scam you. They charged almost 100% in fees monthly!!

  

  Business response

  08/22/2024

  Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. We partner with third party originators and lessors to provide innovative commercial equipment financing solutions for business customers. ********************** provided the equipment financing in accordance with the terms and conditions agreed upon by the third-party originator or lessor, and yourself. While we do not offer standard consumer principal & interest loans, Financial Pacific Leasing does provide commercial equipment financing options, along with commercial equipment leases. We have attached a copy of our Leasing and Equipment Finance Agreement FAQs. This document provides an overview of the contrasts between these products and is located the ************************ on our website www.finpac.com. Management will perform a review of your account and promptly provide a written response. Our desire is to meet the needs of our customers, in a fair manner, and we thank you for your patience as we thoroughly investigate your concerns.

• Initial Complaint

  06/01/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On May 24, 2024, RWC International provided an estimate of $57,386.38 for the repair of my trucks engine. They claimed that extensive engine repairs were necessary. However, upon further inspection, it was determined that the only issue was a clogged EGR cooler. Additionally, they proposed charging $4,529.73 to tear the engine down to take pictures to send to the warranty company. The truck's current market value is $47,******, making their estimate exorbitant and unjustifiable.I reached out to Financial Pacific Leasing regarding the issues I have been having with this truck 2015 International 4300 LP VIN ***************** with ******* miles. This truck was purchase from Penske for $47, ****** on June 5, 2023. I informed them of the recent repair estimate which exceeded the value of the truck and request to settle this lending agreement for $4000 to release me from this loan as the truck is evidently a lemon. It is unreasonable to hold me responsible for a vehicle that has proven defective within the first year of purchase having only driven for ****** miles. ***** the purchase the truck has undergone multiple repairs: 20 Marach 2024 Engine; 16 March 2024 Tow; 12 August 2023 engine power plant system; 7 November 2023 loss of power Regen; 15 November 2023 Intake System Intake Manifold; 02 December 2023 service diagnostics; 12 December 2023 Tachometer diagnose.

  

  Business response

  06/13/2024

  Hello, Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. We partner with third party originators and lessors to provide innovative commercial equipment financing solutions for business customers. We regret the negative experience youve had. Our desire is to meet the needs of our customers, in a fair manner, and to provide each of our customers with the best experience possible. Management will perform a review of your account, as well as reach out to our partner, and promptly provide a written response. We thank you for your patience as we thoroughly investigate your concerns.

  Customer response

  06/13/2024

   
  Complaint: 21789699
  
  I am rejecting this response because: I need a response on the settlement offer since I am unable to get the truck repaired. I need replacement since the truck was a lemon when it was  purchased. 
  
  Sincerely,
  
  ***************************

  

  Business response

  06/25/2024

  Hello,

  Please find attached the written response from Financial Pacific Leasing management to your complaint, which was sent out via US Mail. On June 19th, we received communication that you and the vendor had reached an agreement regarding this equipment. Please contact us at ************** and let us know if this is the case and to discuss next steps regarding this contract. 

  Thank you

• Initial Complaint

  03/31/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I financed some equipment from this company in 2019 the term was 60 months I have satisfied the term of payments this company disabled the payment portal told me my payments have been satisfied then switched the payment portal to my other bank account I have on file with another contract I have with them and charged me the same payment for my old contract predatory lending false pretense

  

  Business response

  04/01/2024

  Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. We partner with third party originators and lessors to provide innovative commercial equipment financing solutions for business customers. Financial Pacific Leasing provided the financing of your Lease or Equipment Finance Agreement in accordance with the terms and conditions agreed upon by the third-party originator or lessor, and yourself.  We regret the negative experience youve had with one of our partners. Our desire is to meet the needs of our customers, in a fair manner, and to provide each of our customers with the best experience possible. Management will perform a review of your account, as well as reach out to our partner for information on the transaction in question, and promptly provide a written response. We thank you for your patience as we thoroughly investigate your concerns.

  Customer response

  04/01/2024

   
  Complaint: 21509830
  
  I am rejecting this response because:
  
  Sincerely,
  
  *********************

  

  Business response

  04/03/2024

  Good Morning,

  Please find attached our response regarding this complaint. The debit in question was not initiated by Financial Pacific Leasing **** The customer has been referred to the originating Broker for resolution.

  Thank you

• Initial Complaint

  01/20/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Date of transaction: 9/15/2021 Item: 2 GHZ DSX **** Cable Analyzer I have paid Financial Pacific Leasing $20,339.48 as of 1/15/2024 The nature of the dispute is that they are charging me an extra $23,245.12 for a total of $43,584.60 on a tool that is only worth $20,000. I've called and ask for a copy of my contract for the past 3 years and never received it. Finally on 1/19/2024 I got a copy of my contract but they only sent me 4 pages out of 12, they won't send the other 8 pages of the contract. I have called several times to pay off the item early and I still have to pay the full amount with interest. Per the contract my payment is $720.76. Per my statements and the Financial Pacific Leasing website my payment amount is $726.41. Financial Pacific Leasing has over charged me in monthly payments by $158.20. They are not honoring the contract that we signed however they expect me to keep paying the same incorrect monthly payment for a tool that is paid off. When I confronted them about this on several occasions they had no response or advice, they simply disregarded the issue. Financial Pacific Leasing has demonstrated poor business practices, poor customer service, and inability to explain or resolve the issue of stating how $23,245.12 is still due for the tool I leased that has been paid in full at $20,339.48.

  

  Business response

  01/22/2024

  Hello, 

  Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. Our desire is to meet the needs of our customers,in a fair manner, and to provide each of our customers with the best experience possible. We regret that your experience with our company has not met your expectations and apologize for any frustration or inconvenience. Management will perform a review of your account, including the communication records, and promptly provide a written response. We thank you for your patience as we thoroughly investigate your concerns.

  Customer response

  01/23/2024

   
  Complaint: 21173896
  
  I am rejecting this response because:
  
  Sincerely,
  
  *******************************

  

  Business response

  01/29/2024

  Good Afternoon,

  Please see attached a copy of our written response to this customer. It will go out this afternoon, along with a copy of the contract. 

  Thank you! 

   

  Customer response

  02/08/2024

   
  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.
  
  Sincerely,
  
  *******************************

• Initial Complaint

  08/27/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I am attaching a letter sent to Financial Pacific Leasing, **** to the attention of ************************* and his Mgr. ************** dated 8/25/2023. First Day Starting, LLC tried in good faith to resolve this matter however, there was no cooperation from Pacific Leasing. Please refer to my email below. Also, First Day Starting, LLC made payments in the amount of $14,525.46, then unfortunately the vehicle was totaled due to an accident. Progressive pd. Pacific Leasing $52,500 to cover the loss of the vehicle. Total of $67,025 was pd. From: ********************* <******************>Date: Thu, May 25, 2023 at 6:55?PM Subject: Contract No. *************** Claim No. 23-9269978 To: <********************>, *************************** <**************************>Hello ****,I'm following up with you regarding our conversation earlier today, requesting your contract/agreement financial breakdown of your contract between **************************************** Day Starting LLC and Financial Pacific Leasing. This would be the financial information including your terms and conditions on the 2014 Freightliner with ******* miles at time of purchase on 8/25/2022. Please note, that this 2014 Freightliner model M2106 was purchased August of 2022, was insured with Progressive for the amount listed on the Bill of Sale dated 8/25/22 for $56,598.00 with a deposit of $1,598.00 financing with Financial Pacific Leasing, **** ***********, ** the total of $55,000. Unfortunately, due to an auto accident, the vehicle was totaled in March 2023. Progressive insurance company made a payment to your company for $52,500 on 3/31/2023 covering the loss of the above listed vehicle. Again, please forward a copy of your financial contract between your establishment and First Day Starting, LLC for review. Thank you for your cooperation on this matter and if you have any questions, please feel free to email me at ******************* or call me on # ************.Sincerely, ********************* Business Manager First Day Starting LLC

  

  Business response

  08/28/2023

  Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. Our desire is to meet the needs of our customers, in a fair manner, and to provide each of our customers with the best experience possible.We regret that your experience with our company has not met your expectations and apologize for any frustration or inconvenience. Management will perform a review of your account, including the communication records, and promptly provide a written response. We thank you for your patience as we thoroughly investigate your concerns.

  Customer response

  08/28/2023

  I've attached additional information for your review on this matter. Bottom line is, Financial Pacific Leasing was paid more than the Freightliner cost for having over ******* miles. They were paid more than the Freightliner is worth. Progressive insurance paid over $50,000 to Financial Pacific Leasing and according to ********************** the value of the vehicle is about $46,000. Pacific Leasing continues to send me monthly invoices for a vehicle that's nonexistent. I would like this company that seems to practice PREDITORY lending to STOP sending me monthly invoices. They were paid more than what the vehicle is worth. Thank you.  I've attached additional substantial documents to prove that they were paid more than what the vehicle is worth.  Thank you.

  Customer response

  08/30/2023

   
  Complaint: 20529188
  
  I am rejecting this response because: I've tried in good faith in the past to resolve this matter. This company is trying to shake me down for around $30,000 more than what they received for this Freightliner. To reiterate, they received payments from me in the amount of approximately $15,000 plus insurance payments of $52,500. AND, they are still sending me monthly bills. I tried to speak with Financial Pacific Leasing representatives, and I was not actively listened to, they always talk over you. They were appropriately compensated for the ****************************************************************** connection with a totaled vehicle. 
  
  Sincerely,
  
  ****** / First Day Starting, Llc Farrier

  

  Business response

  09/08/2023

  Dear ******************, 

  Supervisor *********************** called and spoke with *** on 09/07/2023. We are very sorry that there was a miscommunication on the balance owing after the insurance proceeds were applied to your account. **** is working with *** to clear this matter up so that your account can be closed out with Financial Pacific Leasing. A formal response letter will be sent to you early next week as we are awaiting bank approval. Thank you so much for your patience as we work diligently to rectify this issue. 

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

  VP Portfolio Services

  Customer response

  09/14/2023

   
  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.
  
  Sincerely,
  
  ****** / First Day Starting, Llc Farrier

• Initial Complaint

  08/16/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I applied for financing with Penske to purchase a 2015 Freightliner 26 foot box truck. During the application process the sales person told me to use the *** for a business that I had called KenBec Fence Staining because I had the *** number the longest. My intention was to purchase the truck for my moving company KenBec Movers. I told them before everything was finalized that I wanted this truck to be under KenBec Movers not the fence staining busy. They stated they couldn't change it. The finalized the application and told me pick up the truck. I had the truck insured and made two of the ************** on it. A month later I get an email from *********** Vendor Finance aka Financial Pacific Leasing *** requesting a copy of the insurance with the lienholder listed on it which I provided they wrote and email that I needed the insurance to be under KenBec Fence Staining. After speaking with Financial Pacific Leasing I explained the situation how Penske salesperson told me to use the oldest *** business and how the other Penske salesperson told me they couldn't update it when the application was being processed. The Financial Pacific Leasing rep tells me complete an assumption packet for the name change. I also provided all the documentation of the *** business formation, *** number for KenBec Movers. I completed this then on July 19th and then on August 10th I received letter stateing they were unable to extend credit to me at this time. I have the truck in my possession titled, licensed, and registered as KenBec Movers. Financial Pacific Leasing is now trying to say leasing agreement name can't be changed. It's same first name and both own 100% by me. Why are they refusing to update the name? Why would they deny me assumption when I am the same person, same owner of both companies?

  

  Business response

  08/17/2023

  Financial Pacific Leasing takes customer concerns seriously and we appreciate the opportunity to address them. Our desire is to meet the needs of our customers, in a fair manner, and to provide each of our customers with the best experience possible.We regret that your experience with our company has not met your expectations and apologize for any frustration or inconvenience. Management will perform a thorough review of your account, including the communication records, and promptly provide a written response. We may reach out to you by telephone as well. Thank you for your patience as we thoroughly investigate your concerns.

  Customer response

  08/24/2023

  I accept the apology but this issue needs to resolved immediately about the name of business. They also need to accept the insurance. Also they need fix this truck because ****** falsely claimed the truck had passed inspection. Another service center found several things wrong with it. 

  

  Business response

  09/20/2023

  Please find attached our written response to the customer which outlines the steps we have taken. Thanks! 

  

  Business response

  09/20/2023

  Hello, Please find attached our written response to this customer. Thank you.

  Customer response

  09/21/2023

   
  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.
  
  Sincerely,
  
  ***************************

  Customer response

  09/23/2023

  The Financial Pacific Leasing still has not updated the contract from Kenbec Fence Staing to KenBec Movers LLC. 

  

  Business response

  10/18/2023

  Good Afternoon,

  Our records indicate that **************** executed documentation which added the company in question, Kenbec Movers LLC, as a guarantor to the existing contract. This allowed us to accept the insurance provided. We have contacted the group responsible for this account. Management will be reaching out to **************** via telephone to clarify any questions he may have about the process and to ensure that we have addressed his concerns. We will update you once contact has been made.

  Thank you,

  *****

  

  Business response

  10/18/2023

  Thank you for reaching out with your concern. Our records indicate that on August 28, 2023 you executed documentation which added KenBec Movers LLC as a guarantor to the existing contract. Management will be contacting you shortly to review the process and to ensure that your concerns have been addressed.  

  Customer response

  10/23/2023

   
  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.
  
  Sincerely,
  
  ***************************

*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. ↩