And it must be true if the names HAVE NOT BEEN changed, to protect the innocent.
This article from a paper in Philly, written by John F. McKenna an attorney with MacElree Harvey of West Chester, goes on to describe a bad experience with DLL.
Based in the Netherlands, DLL is a global provider of leasing, business and consumer finance solutions. They are listed as a Michigan corporation with United States headquarters in Wayne.
DLL never guarantees the performance of the equipment; it merely provides the financing. You are responsible for the payments regardless of the performance of the equipment, even if it never works."
I have a copy of their contract, and it is "standard" but is very one sided - as the article states :
"The standard contract states that you cannot have a jury trial. You further agree, that in the event of default, DLL can declare the entire balance of the unpaid lease payments for the full term immediately due and payable."
"payments for the full term immediately due and payable" - you gotta love that too.
His last two sentences sum up nicely,
"Sometimes you just have to take a risk when you lease equipment. Clarifying upfront what your duties and obligations are is always a good course of action."
I notice in the comments this guy takes some pretty good hits, but the overall information is valid.
Leasing is tough all over.
Click to email me.