The difference between leasing and renting has to do with the length of term – with the length of a lease typically being longer. SilverChef offers a rental product, Rent-Try-Buy; and a finance lease product, Lease-to-Keep. They are different in several important ways.
With Rent-Try-Buy, you rent your new or used bakery equipment and make weekly rental payments for a 12-month term, while retaining the option to purchase your bakery equipment or upgrade it during the term.
At the end of the 12-month rental term, you have the additional options to return, continue renting or work towards ownership of your commercial bakery equipment with our Easy Own® product.
To choose Lease-to-Keep, you must have been trading for a minimum 12 months, and be financing a minimum of $10,000 in bakery equipment. You sign up for a 48-month term, make monthly lease payments, and at the end of the term you own the bakery equipment (providing the last payment has been made and you are not in breach of the agreement).