| FAQ - Frequently Asked Questions |
| What is the interest
rate? |
Unlike a loan, no interest rate
is charged because you’re paying for the use
of the equipment over a fixed term. You are not
repaying a loan. |
| What if I want
to upgrade to new equipment during the rental term?
|
That’s OK. We simply adjust
the rental agreement to incorporate the cost of
the new equipment and establish a new term. |
| Are the payments tax
deductible? |
Yes – up to 100%, depending
on the portion of usage for the business. |
| What happens
if something goes wrong with the equipment? |
Outside the manufacturers standard
warranty it is the responsibility of the customer
to ensure the equipment is maintained in good working
order at all times (less fair wear and tear). For
maximum convenience, service and maintenance plans
can be ‘built in’ to your rental agreement.
|
| Can I add on equipment to
my existing rental agreement? |
Organising additional equipment
during the rental term is simply a matter of signing
a variation agreement. This allows you to increase
your rental equipment without extending the term,
or to add equipment and extend the term so that
the rental payments are similar to your current
agreement. Just call the Supplier and ask for an
add-on quotation. |
| Do the rental
payments include insurance? |
It is the responsibility of
the customer to ensure the equipment is insured
at all times. Your rental agreement can be structured
with or without an insurance component. Please ask
for a quote. |
| Who owns the equipment? |
The financier does. You are only
paying for the usage of the equipment during the
agreed term. |
| What happens
at the end of the rental term? |
RETURN Return
the goods at no charge or residual responsibility.
UPGRADE Upgrade to new equipment.
RENT Continue to rent at a reduced
rental rate for a fixed term or continue on a month
to month basis.
BUY Make an
offer to buy the goods at their market value. |
| Can I cancel and hand back
the equipment before the end of the term?
|
If you return the equipment before
the end of the term, you must pay for the balance
owing. Most clients prefer to upgrade to new equipment
and take out a new rental agreement. |
