Rent-Try-Buy:

Since Rent–Try–Buy is a rental agreement, there are no interest rates involved. 

Nonetheless, you can use our online rental calculator to determine your weekly rental payments and what it would cost to own the equipment if you chose to purchase it after 12 months of renting.

As the calculator shows, the net cost of owning the equipment may be as low as 10% (after factoring in tax deductions* and the rental rebate).

This figure is in keeping with:

1. the exceptional flexibility our customers enjoy and which is not offered by any other financier, cash or credit card. 
2. the risks we absorb by, for example, enabling customers to:

• get the equipment they want without committing to the full purchase price
• obtain up to $100,000 of equipment finance — usually without providing a director’s guarantee / personal guarantee 
• upgrade the equipment at any time without having to figure out how to offload the original item
• return the equipment to us after only 12 months without penalty.

Lease:

We work with a variety of lenders to secure the best rates in the market based on your profile. Reach out to our team to see what we can do for you.

Renting or leasing your restaurant equipment is a great alternative to buying. There are a lot of costs involved in setting up and running a hospitality business, so choosing to rent or lease your restaurant equipment can leave you more money for running your business and other expenses.

When leasing with EconoLease, we provide 12-60 month term length options and you will own the equipment at the end of your lease, with nominal buyout options available.

With EconoLease's Rent-Try-Buy® you get additional flexibility over typical financing options. You can change, upgrade or purchase your equipment at any time in the first 12 months. At the end of your 12-month contract, you can continue renting your equipment, work towards ownership, or return the equipment if it no longer suits your business.

Rent-Try-Buy is a flexible, 12 month rental agreement that allows you to get the hospitality equipment you need, with the flexibility to change, upgrade or own the equipment at any time. All while keeping your cash flow healthy, with low weekly payments that are 100% tax deductible. At the end of the 12 month rental term, you have the option to return, continue renting or work towards ownership with our Easy Own® product.

Leasing is a great option for financing hospitality equipment, non-standard equipment items, vehicles, digital menu boards, signage and technology. We offer 12-60 month terms. At the end of the lease term, you will own the restaurant equipment (providing the last payment has been made and customer is not in breach of the agreement) with nominal buyout options available.

Servicing is different to warranty. Servicing is an optional maintenance cost, and the responsibility of the customer. For example, in some areas, coffee machines need to have their boilers serviced every 6 -12 months to remove water scale. When you finance through EconoLease you need to make sure you follow the manufacturer's recommended servicing schedule as, if the equipment breaks down, EconoLease is not responsible for repairing or replacing it – this is a matter for the manufacturer and you may be covered by their warranty (but typically not if you haven't followed their recommended service schedule).

When returning equipment after your 12 month term, we require four weeks notice of your intent to return. You are responsible for the cost of shipping the equipment back to one of our warehouses or partner warehouses. Our Certified Used team can help you arrange shipping, or you can arrange your own shipping.

Once we receive the equipment back, we will need to be clean, service, and test the equipment so it can go back on the market. Typically, your deposit should cover these costs, unless the equipment is in disrepair.

If you return your restaurant equipment before the end of your 12 month rental agreement you will be liable for any rent payments up to the full 12 month period.

You can purchase your equipment at any time during or at the end of the 12 month term. As Rent-Try-Buy is a rental agreement, your payments go toward use of the equipment and keeping your flexible options available, not toward ownership of the restaurant equipment. However, we offer a 60% net rental rebate during this timeframe that is put toward the purchase price of the equipment. To calculate your buyout quote, get in touch with our customer success team at 1-888-473-9309 or [email protected].