QUESTIONS & ANSWERS
Every day more and more businesses and individuals use Flexirent Finance Solutions by FlexiGroup to keep up-to-date with the latest technology in their businesses or homes. We are delighted to welcome you as one of them.
This application booklet contains a wide range of information about your Operating Lease or Lease to Own agreement that you may find useful, both now, and in the future. Operating Lease is a type of lease available for business customers. Lease to Own is a hire purchase arrangement available to businesses where you take ownership of the equipment after you have completed all monthly payments.
Some of the requirements and conditions in this booklet apply to the Operating Lease or Lease to Own, but not necessarily to both. Please check whether you have the Operating Lease or Lease to Own agreement and take a few moments to read this booklet and agreement. Be sure to keep it in a secure place for future reference. We look forward to helping you enjoy the best technology and
updating it as your needs change.
What if I change my address?
It is important that we have your current address at all times. Please call us on 0800 444 827 to update your address details.
What if I change my bank account?
Simply phone us on 0800 444 827. We will send you a new Payment Method Form to complete and sign.
How is the GST calculated on my Operating Lease agreement?
With your Operating Lease agreement, GST at 15% is included in each instalment. For example, if the monthly payment is $115 this will include GST of $15. GST registered entities should be able to claim the GST amount as an Input Tax Credit. For more information, we suggest you contact your tax advisor.
Can I prepay the agreement at any time?
Yes, but you will need to pay FlexiGroup the termination amount which is calculated by the formula set out in your agreement (shown in clause 12). The prepayment amount varies depending on whether the equipment is returned to us and the condition it is in. You should be aware that the prepayment amount in the early stages of the agreement can in fact exceed the original cost of the leased equipment.
Upgrading the performance of the equipment
If you want to modify the equipment to improve its performance you must receive our consent. Please notify us beforehand by phone or in writing.
Can I add new equipment to my agreement at a later date?
You can easily add items during the term (subject to credit approval). Just call us on 0800 444 827. We can usually approve the extra amount over the phone and fax the forms to your supplier within minutes. We will alter the amount to be paid on your subsequent payments and can combine the payments so they fall on the same day if preferred. There is a minimum requirement of $500 including GST for add-ons. Conditions apply.
Who is responsible if the equipment breaks down?
You will be responsible for the maintenance or repairs of your leased equipment. We strongly recommend that all equipment be covered for the whole of the lease term by an extended warranty which covers you after the manufacturer’s warranty has expired. Check this with your supplier. If the equipment breaks down during the manufacturer’s warranty period, call the manufacturer or
your supplier. After that time, call the extended warranty provider or your supplier.
Who is responsible if the equipment is lost, stolen or damaged?
If you have not taken Flexirent Equipment Protect, you will be responsible if your leased equipment is lost, stolen or damaged. You will have to continue your lease payments and if you have an Operating Lease agreement, return the equipment to us at the end of the lease term. For your protection, we require that all leased equipment be insured.
Flexirent Equipment Protect
No one wants to keep paying for equipment they don’t have the use of anymore. For a small additional amount Flexirent Equipment Protect will protect you in the event that your leased equipment is accidentally lost, stolen, or damaged. Conditions apply.
Flexirent Payment Protect
Flexirent Payment Protect provides additional security in the event of Disablement, Involuntary Unemployment, Death, Terminal Illness and Business Interruption. Conditions apply.
Extra care needed for portable equipment
If you are leasing portable equipment such as a laptop computer, you should always keep it in a safe place, secure from theft. Please do not leave it unattended in a public place, or in an unoccupied motor vehicle. The equipment may not be covered by Flexirent Equipment
Protect or your own insurance policy if you fail to ensure that it is kept safe and secure.
How do I make a claim under Flexirent Protect?
Just call us on 0800 444 827 and ask for an Incident Notification Form. Our Customer Service Centre will help you through the process.
What happens at the end of my Lease to Own agreement?
If you have selected Lease to Own, ownership transfers to you at the end of the agreement, provided all payments have been made and there are no other amounts owing.
What happens at the end of my Operating Lease agreement?
FlexiGroup (New Zealand) Limited will endeavour to contact you before the end of your agreement as a reminder that your agreement is about to end. We encourage you to also note your lease end date.