Balboa Capital Corporation

robert d. 

on BBB

8 years ago

in October 2015 i entered into an agreement with this company. To this date i get harassed for monthly payments weather its late one day or even if they forget to invoice me which happens often and i feel its being done to tally up late surcharges at 12% Long story short late in 2016 we have to do an aCH for quick payment cause we didnt get an invoice again! (we have dozens of loans and a ton of equipment) so we did an ACH. In December i saw an ACH come out for $400 +/- it was balboa, they took it upon them selves without a... read more

Duane F. 

on BBB

8 years ago

If you are looking for a lending company that does not care about their clients, customer service that does not return your calls, sales manager that does not act interested when he calls after numerous attempts, service manager that cares about servicing their loan only, not the needs of the client, a title department that follows in the same manner as rest of the company, if this is the type of relationship you desire with your lender then Balboa is the company for you! If you like emailing constantly with no reply, callin... read more

Leslie D. 

on BBB

8 years ago

We received our January bill for an existing equipment lease and were surprised to find a new "Non AutoPay Fee" of $10.00 added to the monthly payment total. When I called to inquire about it, the representative told me it was "a new company policy effective 12/30/16". We received no advance notice regarding the additional fee. What a disappointment! I realize they are attempting to automate as much as possible, but tacking on additional fees without advance notice to clients is not a great way to do business. We will be ver... read more

Etta V. 

on BBB

8 years ago

We leased a truck through this company in 2010, the end of our lease was in beginning of 2015 in Sept. & Oct. 2015 we requested the final buy out figures to end the lease. Nov. 2015 we finally received papers of buyout for $48,238.50 including tax etc. When we bought the vehicle in 2010 it was only valued at $40,000.00 now 5 years later it is valued at over $8000.00 more than it was 5 years ago????? When we questioned this amount no one had answers other than if you want the equipment pay this price to keep it. After several... read more

A. J. 

on BBB

9 years ago

DO NOT USE THIS LEASE COMPANY. THEY CHARGE YOU HIDDEN AND UNDISCLOSED FEES. Here's a bit from an email exchange I just had with them. "Iwill find the invoice for your "pro rata" fees so UNCLEARLY disclosed in your contract and send it to you. Yes, I signed that I would pay $1400 starting in May and you drafted $2000 in March.??# And why sign I would pay $1400 if my payment is $1500- so you can charge me interest in taxes you NEVER disclosed to me. You all are pigs!" 

A. J. 

on BBB

9 years ago

I signed on for a 5 year restaurant equipment lease where I agreed to pay $14xx every three months beginning May 1. The representative stated this and the documentation said this as well. To execute the lease I agreed to pay $940 in fees, but on March 1, Balboa drafted over $2000 from my account with no warning. Later they sent me an invoice and cited their contract stated there would be "pro-rated" charges. The wording in their contract is solely intended to defraud customers since they had me sign a statement saying the fi... read more

F. N. 

on BBB

9 years ago

We have had 7 loans with them. They were good for the first time. Then starting the 2nd loan they put in some terms like we have to terminate the leases in writing no earlier than 270 days but no later than 180 days from the lease expiration day. Despite the fact that the equipment only has 6 months warranty, they put in the lease that gives them the right to determine the value of the equipment at the end of the lease. No bargain purchase option was offered in the leases. Also, they charge you 2 months of security deposits ... read more

r. m. 

on BBB

9 years ago

Very deceptive lending practices!! We were quoted a 6% lease on the equipment and decided to go with Balboa instead of our bank. We are now leasing our equipment from Balboa and because of the sketchy contract we will be paying 34% interest on this loan/lease! We were told we could pay this off early with no penalties. Do yourself a favor....TAKE THE CONTRACT TO A LAWYER!!! Very, very fine print and you will need a law degree to figure out exactly what you are signing!! 

East Cooper Lock And Safe 

on BBB

9 years ago

Beware and make sure you read the fine print or better yet stay away.The first thing that got me was a insurance fee for not having insurance on the equipment.I have insurance on all of my equipment and sent many time my insurance coverage for my equipment but it just never met there standards it works for everthing else but not there standards.Here is the good part I called to say that I was having problems with the equipment and wanted to file a insurance claim well I wasn't paying for insurance I was paying because I didn... read more