About
Silver Chef Rent-Try-Buy
Silver Chef is Australia’s only dedicated hospitality equipment funder. For 30 years they have helped more than 30,000 customers from start-up businesses to large restaurants, hotels, healthcare and education facilities.
Silver Chef is all about partnering with your business and by helping you grow and develop without having to outlay a large amount of capital to get the equipment you need, we don’t sign you up to a long term contract, use Silver Chef for the 1st year, assess the equipment and that it is right for your business, if you need to upgrade equipment you can, once you know it is right for you and you feel financially comfortable, you can pay any item out at any time with no penalties.
1. Short 12 month contract - With our minimum 12 month contract we take on the risk with you so you are not locked into any long term commitment. Peace of mind at its best.
2. Rental Rebate – You will receive a 75% net rental rebate (ex gst) on each rental payment in the first 12 month – this means while renting you are also working your way to reducing the price to purchase equipment.
3. Tax Benefits – As Silver Chef is a rental contract it makes your payments 100% tax deductable
4. Purchase – At any time throughout your contract you are able to purchase any piece of equipment on your Silver Chef contract – there are no hidden early exit fees simply phone through to customer service to arrange a quote which will include the rebate you have received.
5. Upgrade – if a piece of equipment isn’t keeping up and you need a bigger or better item you are free to upgrade with Silver Chef at any time so you are not stuck with an unsuitable piece of equipment in your business causing you headaches!
6. Loyalty – After renting from Silver Chef for 12 months and you still haven’t decided if you would like to own the equipment or upgrade it you can take advantage of our loyalty offer. This is a 10% discount on your weekly rent for signing up to another 12 months. You are still free to upgrade or purchase at any time like the first 12 months you just can’t outright return the items to Silver Chef.
7. Easy Own (2 year extension) – At 12 months you have the option of moving into a 24 month lease product where you will own the equipment outright after the duration – we will also offer a 15% discount on your weekly payments during this period.
8. Easy Own (3 year extension) – Easy Own 3 Year is just like Easy Own 2 year however it is a 36 month extension, you own the equipment at the end and we provide a 30% discount on your weekly payments
9. Return – After 12 months if you decide there is equipment that you are not utilizing you can return this to Silver Chef and stop paying for it.
10. Off balance sheet funding. This type of finance is “off Balance Sheet” which means that it is a business expense rather than a liability on your balance sheet meaning that it is invisible to other lenders and does not affect your ability to get funding from other sources.
11. Net cost of funding at the end of 12 months when you purchase the equipment after the rebate and tax deduction is just 8.3%
Renting vs leasing
Now you’ve decided to keep your working capital in your business, it’s time to weigh up the option of renting against leasing. You need to take into account the full impact that leasing kitchen equipment will have on your business:
If your business is established and has been trading for over 2 years under the same ABN all we require is one weeks rent in advance to begin your Silver Chef contract.
If your business has been trading less than 2 on the same ABN all we require is the amount of 6 weeks rent as a refundable security deposit as well as 1 weeks rent in advance to begin your Silver Chef contract.
Items Silver Chef will fund
• Coffee Equipment
• All Kitchen Equipment including front of house
• Refrigeration including Cool Room/Freezer Room
• Stainless Steel Benching, Wall Sheeting & Canopies
• Most types of furniture
• Table Top (maximum 20% of the entire contract)
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