A: There is no interest rate because it is not a loan. Being an operating lease, it is treated as a monthly rental payment for the use of the equipment.

A: It’s very simple – either directly debited from your nominated bank account or credit card.

A: Yes. We will issue you a revised agreement which will either increase the payments (but retain the current term) or extend the term (and adjust the payments).

A: Your options include:

1. Continue Leasing: Allows you to keep using the equipment for as long as you like - a useful option if you are waiting for replacement equipment or yet to finalise your end of term decision. You will continue being billed on your current basis.
2. Renew Your Lease: Available for a minimum of 3 months. Once you advise us, we will recalculate the payments (possibly at a reduced payment compared to if you simply continued your existing contract). We will agree the term and payment with you and forward you documents for signing. The original terms and conditions will apply.
3. Buy the Equipment: You can offer to purchase the equipment at fair market value (FMV) - being a reasonable market price based on a similar used item. We will agree a FMV, and either invoice you or direct debit the amount from your account (your choice).
4. Upgrade the Equipment: You will need to source new equipment and provide us a quote. We will work out the new amount and, if you agree, will forward you new documents for signing. If you would also like to keep some or all of the old equipment, we can include this in our quote. Equipment you don't want must be returned to us.
5. Return the Equipment: If you decide that you no longer want the equipment, you can simply return it to us. Any equipment not returned will be considered as still on lease and charges will apply accordingly.

You also have the choice to combine options. Just let us know what you would like to do.

Please remember it is up to you to let us know in writing what you want to do 30-90 days (depending on your contract) prior to the end of your lease - including terminating the contract. If you don't inform us you will continue to be billed.

A: The agreement is a fixed term contract, therefore if you cancel before the term has concluded you will have to pay the difference of the remaining payments. Often a more preferred option is to upgrade the equipment (and enter a new contract).

A: The monthly payment amount is based on the (ex GST) price of the equipment and the term chosen. GST is added to the rental amount. The longer the term the lower the monthly payments.

A: Your payments are based on the GST exclusive price of the equipment. GST is then added to the monthly payments. Businesses registered for GST should be able to claim the GST amount as an Input Tax Credit. Independent taxation/accounting advice is recommended.