Reviews

Review Details

• Review fromTracy P

  Date: 06/02/2024

  1 star
  THIS COMPANY WILL CHEAT YOU OUT OF MONEY AND DOESN'T COMPLY WITH CONTRACT LANGUAGE. We had a lease-to-own contract with Apex Commercial for our laser equipment. Our contract had an early payoff option after 30 consecutive payments were made, no defaults and that the request had to be in writing. We paid a higher monthly payment to have the early payoff option since we new that we would be in a position to pay it off early. The contract also stated that we were liable for not more than $100 in aggregate unpaid finance charges at that time. Apex did not honor this contract. When I requested an early payoff, ******** said that there was no discounted amount and the entire amount was due. I requested for a finance schedule, or anything official to document the finance chargers. *** refused to provide and the amount but sent this definition. "Your documents are structured as an Equipment Finance Agreement not a loan. There is a finance charge based upon a rate factor, not an interest rate, therefore interest and principal are not separated. The payment and the term are fixed so there is not an amortization schedule like there might be with a loan or a mortgage. To arrive at the amount you will pay in finance charges, you would multiply the payment by the term and deduct the equipment cost. This will be the amount you will pay in finance charges for the life of the term."They refused to adjust the payoff amount. The overall cost of the contract was $26,088. The equipment was $18,570, finance charges $7,518. With a 60 month term, the finance charges would be $125.30 per payment. That aggregate finance charges for nine payments would be $1,127.70. The early payoff agreement states that I would be liable for not more than $100 of the unpaid aggregate finance charges. My payoff should reflect that, it should only be $2,885.50 ($2785.50 for the equipment and $100 of the $1,127.70 for the finance charges). The payoff amount you sent me is over $1000 more than that.

• Review fromEvelyn C

  Date: 06/01/2024

  1 star
  A one star is a high number to give this company! I give it a 0!! I was working with this lender for several months, finally, I was told by all parties involved with that the deal was close for an approval. Then after I gave them ***** for appraisal fees, title etc. they pulled out of the deal without even giving me the courtesy of informing me. Now, they are refusing to reimburse me my hard earned ***** and they did nothing for me at all, but put me through stress and misled me completely throughout the process. They did not give me a reason, but they were quick in taking my hard earned money. This company is untrustworthy. I do not understand how Apex continues to do this and get away with it!

• Review fromShannon J

  Date: 04/19/2024

  1 star
  My payment account was subjected to fraudulent activity and per bank procedure, the account was frozen my account to me from further assault. During this brief period, no transaction could proceed. My bank wrote a letter requesting any fees occurring for nonpayment during this time be waived due to circumstances beyond my control and funds were actually in the account. Once that account was closed and a new one open, again per bank procedures, that new information was relayed to Apex. Apex still refuses to waive those fees.

• Review fromCaleb H

  Date: 03/19/2024

  1 star
  Reviewing as a Realtor. Even though the appraisal was significantly higher than purchase price Apex commercial failed to follow through with commitment letter from preapproved buyer. Given reason was issue found in appriasal, however Deborah R*****, an employee of the company stated everything was clear to close multiple days after receiving the apprisal and claimed they just needed the seller's signature to extend closing date slightly. Seller signed and less than five days before closing we were suddenly informed we were not clear to close. Reasons for denial changed upon questioning with representative Roger Plate, however both relied on the appraisal which they had received prior to telling me that everything was clear to close, and they just needed to extend the closing date slightly. Overall an untrustworthy company. Recommend not relying on preapproval letters from this company and accepting offers from a more credible/competant lender.

• Review fromJaved C

  Date: 01/17/2023

  1 star
  This company cost me 4k . One of the worst companies to work with. They fired their employee that was doing shady things. They have incompetent people with them. Poulina Kalushner , Kevin M. Vanic and Shannah Berger, CLFP. I do not like losing my money. If they could not do the loan, they should told me up front.