End of term options
With our range of flexible end of term options, endings can also be beginnings. You can upgrade to new goods, make us an offer to purchase the existing rented goods, continue to rent the goods or, if you don’t want them anymore, simply return them to us in good working order*.
Some products may have different end of term options - see your Credit Guide and Terms & Conditions booklet for specific information relating to your rental agreement.
Here are the common end of term options:
Upgrade and offer to purchase: Upgrade to new goods by entering into a new rental agreement with SmartWay. You can make us an offer to purchase the existing rented goods. You can offer any price for the existing goods, but we have the right to accept or reject your offer*.
Upgrade and double time: Upgrade to new goods by entering into a new rental agreement with us. Double the term of your existing agreement by paying 1 additional monthly rental payment, continue using the goods and enjoy the benefits of the FlexiCare Program for the double time period*.
Upgrade and return: Upgrade to new goods by entering into a new rental agreement with us. Return the existing goods in good working order at the end of term with no more monthly rental payments to pay. Return the goods 2 or more months before the end of term and we will waive up to 2 remaining monthly rental payments*#.
Offer to purchase: If you are not interested in upgrading to new goods, but would like to own the rented goods, you can make us an offer to purchase them. You can offer any price but we have the right to accept or reject your offer*.
Double time: Double the length of the term of your rental agreement by paying 1 additional monthly rental payment. You can continue using the goods and enjoy the benefits of the FlexiCare Program for the double time period*.
Return: You can return the goods if you no longer want them. Goods must be in good working order and returned at your expense. At the end of term, there will be no more monthly rental payments.
Extend: Business use customers may be able to continue renting the same goods on a month to month basis, allowing you to preserve your cash and continue to take advantage of tax benefits^.
Remember: The most important thing is to contact us to nominate an end of term option prior to the end of your rental agreement. If you do not contact us, and you don’t return the goods to us, your agreement will continue on a month-to-month basis and you will continue to be charged a monthly rental payment.
*All end of term options, other than return, are subject to our agreement and terms and conditions, and in the case of upgrade, to our internal credit criteria. All new rental agreements are subject to a minimum invoice value of $100.
#Up to 2 monthly payment waiver offer or acceptance of the double time payment offer, whichever is elected, is available on eligible, approved and settled deals and is subject to credit criteria. Customers are liable for payments for the full term under the original agreement. One offer per customer. SmartWay holds the right to withdraw the offers at any time.
^Tax deductions may apply for business use customers. See your tax advisor for details. SmartWay does not provide legal, tax or accounting advice.