Better your valuable working capital elsewhere in your business to finance growth At the end of the contract, a number of options are given to the client. The return of the devices in perfect condition allows the customer to leave the contract or to start a new one (the latter is possible within the last three months of the contract, provided it is equal or higher). Alternatively, the customer can negotiate at the end of the contract to purchase the equipment directly. [6] Please note that a fee may be charged if you use these options. In 2007, the Micah Law Centre, a non-profit law firm, stated in a report[18] that financiers in consumer leases, including flexirent, were attempting to circumvent Australia`s consumer protection laws for credit contracts, citing complex and misleading final ownership clauses. It also raised concerns about the high cost of agreements and their marketing to low-income consumers. [Citation required] If you want to terminate the contract prematurely, there are a number of options. Look at your right to tax deduction, as they can be considered operating expenses Flexirent service is offered by many computer and computer equipment distributors, but the test version of Flexirent, which lasted 12 months in its Brisbane stores in 1995, is strongly linked to australian retailer Harvey Norman. Flexirent and other similar credit products have been criticized for financial over-consolidation and confusion over customer leases and leases. [3] FlexiRent`s newest equipment, without having to pay an installation or annual fee, many have criticized the total operating cost associated with flexirenting. A particular case, highlighted in a press release entitled “Flexirent Deals Require A Long Hard Look” from the ACT Office of Regulatory Services, showed a customer who purchased a laptop with an extended warranty and computer support for AUD 2450. The customer had to pay AUD 4,246.56 over 3 years, which corresponds to an interest rate of about 40%. This is not an unusual case and can be verified by typing the corresponding data into the Flexirent online offer calculator.

Despite the high interest rates, the terms of a consumer lease require the customer to have only the right to use and not to own the leased devices. Under the terms and conditions of flexirent, a customer must negotiate at the end of the contract with Flexirent a price (described in the contract) that has the right to accept or refuse an offer. [16] [17] Flexirent Capital Pty Ltd. or more often Flexirent is an Australian consumer leasing service for business electronics and consumer electronics and FlexiGroup`s main product. (ASX: FXL) [1] [2] Choose the category that best represents your query and fill out all the fields. Frequent criticisms are supposed similarities with predatory lending practices, misleading pitchings regarding the difference between “rent” and “buy”[7] and sellers, who are highly motivated by large sales incentives to sell flexirent services to customers. [8] [9] [10] [11] Flexirent was established in 1993 as a financial service for digital mobile devices. In 1995, the service was tested in three Harvey Norman stores in Brisbane for a period of 12 months and was introduced shortly thereafter in all stores.