What is the name of your state? new jersey
We purchased a log splitter in December 2004 for $8,045.56 from Ludlow, Vermont.
Payment arrangements were as follows: Deposit of $800.00 to company, balance to be financed through Leasing company in Vermont. We agreed to a 3 year term with payments of $328.44. After the first two payments to this Leasing company it was assigned to another Leasing company in Federal Way, Washington.
The $7,200.00 financing will come to $11,808. to finish the term.
The interest rate is around 64% . We have tried to reason with the owner of both leasing companies, but they will not compromise their
rates.
Do we have any legal recourse?What is the name of your state?
We purchased a log splitter in December 2004 for $8,045.56 from Ludlow, Vermont.
Payment arrangements were as follows: Deposit of $800.00 to company, balance to be financed through Leasing company in Vermont. We agreed to a 3 year term with payments of $328.44. After the first two payments to this Leasing company it was assigned to another Leasing company in Federal Way, Washington.
The $7,200.00 financing will come to $11,808. to finish the term.
The interest rate is around 64% . We have tried to reason with the owner of both leasing companies, but they will not compromise their
rates.
Do we have any legal recourse?What is the name of your state?