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FAQ: You ask, we answer.

With our Leasing FAQ's, we would like to give answers to frequently asked questions around the subject lease. More questions are answered personally.

   

What is a full payout lease?

Under a full payout lease, the lessor recovers all costs (purchase, finance and other costs) of the leased item in full from the leasing instalments over the course of the term.

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What is a trade-up option?

All GRENKE leasing agreements include a trade-up option, which allows you to upgrade your leased items during the contract term. So you benefit from state-of-the-art equipment in conjunction with unchanged leasing instalments, provided you fulfil certain minimum criteria for contract value.

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FAQ / Dealer / General

 

What do I need to print out a leasing contract?

You will receive your leasing forms in PDF format. To read and print these files you need the Acrobat Reader program from Adobe Systems Cooperation. You can find this on the Adobe website, and the software is free to use.

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When do I receive payment for the leased items?

GRENKE guarantees to pay your invoice on the same day that we receive all completed contract documents, making leasing a reliable business transaction for our partners.

 

With our express money transfer option, you receive the money to your account often on the same day. So when your customers lease, you can be sure of reliable cash flow.

 

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FAQ / Customer / General

 

How much do I have to spend to be able to lease with GRENKE?

Even small investments can be financed with a GRENKE leasing arrangement, starting from as little as £500

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What kind of items can I lease with GRENKE?

GRENKE operates independently of vendors and banks, meaning you are never tied to a particular brand or manufacturer. Our leasing offering focuses on office and communications equipment, medical devices, security systems and production plant. On request, it may be possible to lease other items – simply talk to your local GRENKE contact.

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How can I apply for a leasing arrangement?

You can submit an application for a leasing arrangement with the dealer or specialist retailer who supplies your equipment. They will then submit your application to GRENKE via the online portal. The request is processed within minutes, and you can sign your contract on the spot. Your dealer or specialist retailer will then supply you with the leased items.

 

Alternatively, you can send an application to GRENKE directly. Simply use our request form.

 

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When does my lease contract begin?

You sign a confirmation of delivery on receipt of the leased item, which includes the delivery date. Your contract term begins at the start of the quarter following this date. During the period between the delivery date and the first full instalment, you pay a daily fee in the amount of 1/30 of the instalment. This period does not count as part of the contract term.

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When are the leasing instalments debited?

For reasons of cost-efficiency, GRENKE debits leasing instalments four times a year (on 1 January, 1 April, 1 July and 1 October). This means instalments are paid in advance for each quarter.

 

It is possible to switch to monthly payments at any time. However, quarterly payment includes a saving of 1.5 percent. This is not possible with monthly payment, increasing the total amount.

 

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Are there any additional costs over and above the leasing instalments?

Insurance is necessary for all leased items. If you do not have the corresponding cover, GRENKE can include the equipment within our own low-cost insurance policy. The fee is debited once a year, and varies depending on the purchase price of the items leased.

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At what point do I own the equipment?

With leasing, you do not pay for the leased item itself, but pay a fee for its use.

 

In essence, leasing is very much like renting, just for a longer period. For example, if you rent an apartment, your rent does not go towards purchasing the apartment; you are only paying for its use. By simply paying the rent, you will never own the apartment. If you stop paying your rent, you have to move out: you have to “give back” the apartment. Exactly the same applies to leasing.

 

For legal reasons, a leasing contract must stipulate that the items will be returned at the end of the term. Only then can you fully tax-deduct the instalments. Plus, once you return the leased item at the end of the agreed term, you can immediately upgrade to the latest equipment.

 

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Can I terminate my leasing contract before the end of the term?

The provisions of the leasing contract specify that both parties agree that the cost of the equipment will be fully recovered through the leasing arrangement, including any additional charges and interest. The contract can be terminated prematurely at any time; however, the full cost must be recovered.

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Is it possible for me to view and manage my contracts?

The GRENKE customer portal allows you to manage all your contracts simply and securely online. Moreover, it gives you access to digital invoices that meet all statutory requirements, e.g. for VAT returns.

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