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Leasing Products

tricie17
Frequent Contributor

Leasing Products

I am asking if anyone ever heard of or used my lease king for renting products such as computers and other electronics.  They are out of Ventura, VS and claim to have been in business for 13 years.  Their website looks legit but no reviews anywhere.  That is Ventura, CA.  Can not correct the vs

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iv
Valued Contributor

Re: Leasing Products


@tricie17 wrote:

I am asking if anyone ever heard of or used my lease king for renting products such as computers and other electronics.  They are out of Ventura, VS and claim to have been in business for 13 years.  Their website looks legit but no reviews anywhere.  That is Ventura, CA.  Can not correct the vs


Well... they are "legit" if you mean "do they ship the products listed, and charge the prices listed".  As far as that goes, they are a "legit" business.

 

But...

 

They are also an example of one of the worst predatory lending practices out there.

 

Almost ANY payment method is better than using someone like them (even massively-high-APR bottom feeder credit cards!)

 

For example - you could buy an iPad Air 2 (128GB, WiFi-only) for $499 directly from Apple (less if you shop around).  The same iPad at the payments currently listed on their site? Just under $1,250 over two years ($52/month).  Instead, if you put it on a high-APR card of 30% and paid the same $52/month, it would be paid off in less than one year, at a total cost of only $578.

 

Yes, this is actually a case where a "bad" rate on a sub-prime card is actually the far better option.

(Yes, a better card with a 0% offer is an even better option... but the 30% card saves $672 over the "lease" option.  The 0% card would only save an additional $79 over that.)

 

Please don't fall for the "low monthly payment" hook.  It's a (legal, technically) scam, and will cost you far too much.

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Edlopz
New Visitor

Re: Leasing Products

Myleaseking is definitely a scam, their location shows up as a pay day loan place and there is no reviews at all. My friend said that he signed up (without doing any research) and apparently was denied for their service even though he meets their "requirements" and days later he had all kinds of charges on his debit card, somewhere in New York and needed to close his account, plus he receives constantly emails now from places like cash advance and pay day loans. 

Whatever you do, do your research and don't trust any company that has absolutely no reviews especially if you have to provide social security numbers and debit card information. 

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