Dell Computer Corporation Complaint - Unreasonable - Fair Market Value
My company purchased a Dell Dimension 4500 for $565. At the time, we had the option of entering into the $1 lease buy out or the Fair Market Value (FMV) buy out. We were told that the FMV buy out would be roughly equivalent to an additional lease payment, which seemed fair and consistent with a lease program. We selected the FMV program.
After the 48 month lease, we contacted Dell to obtain the buyout amount which we were told was $267, a significant difference from the $18.70 monthly lease payment. Dell Financial Services, would not explain how they reached this amount nor could they justify it.
The amount was totally unreasonable. Had this agreement been presented in the terms of what it really is, "a rental agreement", then we would have never entered into the agreement.
We plan to return the equipment and will never do business with Dell or Dell Financial Services again. I will also make it a priority to inform the many companies that routinely ask for guidance on the selection of computer equipment to avoid Dell and its deceptive business practices.
Shame on Dell and DFS.