Consumer complaint received 2026-06-10 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: LeasePoint Funding Group, LLC
State: TX

Complaint narrative:
I am submitting this complaint regarding LeasePoint and its affiliate lender, XXXX XXXX, in connection with XXXX Equipment Finance Agreements ( EFAs ) entered into for aesthetic medical devices. Prior to signing the first XXXX, I repeatedly communicated that minimizing financing costs was extremely important to me. To reduce the amount financed, I increased my upfront payment to more than {$42000.00}, believing that this payment would be applied toward principal and reduce the amount on which financing charges were calculated. It appears this payment was not applied as a traditional down payment toward principal. Instead, it appears to have been applied against the total stream of payments after fees and financing charges were already incorporated into the agreement. I repeatedly requested documentation explaining exactly how this payment was applied and how the financed amount was calculated. Despite multiple requests, I have never received a clear explanation or supporting documentation. Approximately XXXX months after signing the first EFA, I requested an early payoff quote from XXXX XXXX and was surprised to learn that early payoff would provide little to no meaningful reduction in the total amount owed. Concerned that we would ultimately pay nearly {$70000.00} more ( approximately 25 % more ) than the purchase price of the equipment, I contacted the LeasePoint representative, XXXX, to discuss my concerns. During multiple conversations before and after execution of the agreement, I specifically expressed that I did not want to pay more interest and fees than necessary and wanted the ability to reduce financing costs through early payoff. XXXX assured me that while we would be committed to an initial 12 months of payments, we would be able to pay off the agreement after approximately 12 months and receive a significant reduction in the remaining payment stream. In XXXX of 2025, he provided an anticipated payoff amount in the range of approximately {$130000.00} to {$140000.00} after 12 months of mandated payments ( XX/XX/year> ). I also have written text communications from XXXX stating that XXXX XXXX would " work with us '' on the payoff amount after the required 12 months of payments. These representations contributed to my understanding that early payoff would result in a meaningful reduction in the remaining payment obligation. I also have email communication that reinforced this understanding. Based on those representations, we proceeded not only with the first agreement but also entered into a second XXXX through LeasePoint. Before signing the second agreement, I again made it clear that I did not want to be locked into excessive financing costs and specifically discussed anticipated early payoff amounts. I have written communications from XXXX confirming his understanding of these concerns and discussing anticipated early payoff flexibility. Had I understood that early payoff would not provide the significant reduction that was discussed during the sales process, I would not have entered into the agreements on the same terms and would not have proceeded with the second XXXX. Approximately XXXX months later, I again requested payoff amounts for both agreements. XXXX XXXX informed us that payoff figures would not be released unless we first signed an XXXX XXXX XXXX. Because we needed the payoff information promptly for accounting and business planning purposes, we signed the addendum believing it was simply required to obtain the discounted payoff terms that had previously been discussed. We later learned that the addendum itself imposed additional fees and costs associated with early payoff, and these fees were not disclosed during the original sales process. The payoff amounts ultimately provided were materially different from what had been represented to us throughout the sales process and subsequent communications. The payoff amounts XXXX quoted us if we paid off in XXXXXXXX XXXX XXXX were substantially lower than the most recent payoff quotes we recd. Each time I raised concerns regarding the prior representations and written assurances, I was unable to obtain a clear explanation reconciling those differences. My concerns are as follows : My $ XXXX upfront payment on the first loan ( and perhaps the second ) does not appear to have been applied in the manner represented or reasonably expected, and despite repeated requests I have never received a clear accounting of how those funds were applied. My understanding was that this payment would be applied toward principal and reduce the amount on which financing charges were calculated. Representations made before and after signing regarding the availability and financial benefit of early payoff appear inconsistent with the terms ultimately enforced. Written communications indicating that XXXX XXXX would " work with us '' on payoff amounts after the required payment period appear inconsistent with the payoff figures ultimately provided. The XXXX XXXX XXXX was presented as a prerequisite to obtaining payoff information, yet it imposed additional financial obligations. The XXXX structure does not provide a clear breakdown of principal, financing charges, fees, and payment allocation, making it difficult to understand the true cost of financing and evaluate payoff calculations. I have retained emails, text messages, payoff quotes, and related documentation supporting the concerns described above and can provide them upon request.

Company response to consumer: Untimely response