Updating Equipment
Many EzyWay customers want to update some or all of their electrical goods because their requirements change or their current model becomes outdated or doesn't suit their needs anymore.
With EzySwap updating your goods couldn't be easier!
If you want to upgrade your equipment within the last six months of your agreement return the old goods in good working order and take out a new agreement for goods which have a value equal to or greater than the original cost of your old goods. Flexirent will waive all remaining payments under your old agreement without any charge or penalty.
When you are ready to EzySwap to new equipment, simply call the Customer Contact Centre on
1800 240 102.
* Flexirent Capital will endeavour to contact you coming up to the last six months of your agreement.
Q) What does EzySwap involve?
A) Updating involves selecting new goods from either Harvey Norman or Domayne (preferably the original supplier) and entering into a new Flexirent EzyWay Agreement for another term. You may purchase all or some of the old goods at a price you see fit (which Flexirent are free to accept or reject). GST will apply to this purchase price. Or simply return unwanted goods it to Flexirent.
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Q) Can I update to new equipment before the end of my Rental Agreement?
A) Yes. Whether you choose a 2, 3, 4 or 5 year term, you can update before the end of the Agreement. Flexirent encourages you to take the EzySwap option and update when you are within the last six months of your agreement as we will waive all remaining payments. Your rental payments may increase if you update too early, the longer you leave it, the more economical it becomes.
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Q) What does it cost to update?
A) There is no lump sum payout required and no penalties are charged. In an update, we calculate the amount remaining on the rental term - to which we may apply a discretionary discount, and we then give you credit for the market value of the old equipment if you are returning it.
If there is an amount owing, we can usually add it to the cost of the new equipment and build it into the next agreement. The amount left owing (if the term is more than 75% expired) is usually quite small when spread over the rental term. There is no GST applied at the update point, but GST will apply to the new rental amount.
If you take advantage of the EzySwap option in the last six months of your agreement, there is no charge to you, however, you must take out a new agreement for equipment of equal or greater value than your old goods. Flexirent will waive all remaining payments under your old agreement without any charge or penalty.
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Q) How do I update to new equipment?
A) Updating is fast and easy. You can select to update some or all of your goods before or at the end of the term*.
Call us when you are ready to update to the latest and greatest. We'll update your details and we may do another quick credit check.
We'll then give you an update quote (if updating before reaching the last six months of your contract) and/or a spending limit.
You choose your new goods and decide whether to purchase the old ones or return them to Flexirent.
Sign the paperwork and pay the first monthly rental when you collect your new goods.
* All Updates/EzySwaps are subject to Flexirent approval. Terms and conditions may vary.
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