Frequently Asked Questions

Let’s see if we can answer your question.

When do I get the security deposit back?

Depending on the option you select, we will arrange for the deposit to be returned to you. Should you exercise the purchase option, and upon SilverChef’s receipt of the funds, the security bond will be refunded, usually within seven days. If you choose to return the equipment at the end of the contract, the security deposit will be refunded less any cleaning, transport to local depot, repair costs or replacement of non-returned accessories.


What are the upfront costs of funding?

The upfront costs of funding include a fully refundable security deposit equal to 6 weeks of the rental amount as well as an establishment fee of $200 (plus applicable taxes) that sets up your funding facility. Your flexible funding facility allows you to add further equipment when your needs arise! The security deposit is designed to be held against your piece of equipment until you advise us that you would like to utilize one of the five options available to you.


What are the five flexible options?

Purchase at any time during the 12 month period and your payout is simply the original purchase price less 50% of the rent paid.

Upgrade at any time to equipment better suited for your business.

Return the equipment after the 12 month period if you no longer need it.

Continue to Rent at the end of 12 months with no obligation and continue to enjoy 100% tax deductible rental payments

Extend your contract for another 12 months and receive a 25% discount on the previous rental price, when you sign up.


How quickly can I arrange finance?

If you need finance fast, we’re here to help! Our Approval Centre can help you with fast,  over-the-phone approval. Should an urgent need arise, we can assist you and your dealer by prioritizing the process to achieve same-day delivery. Because we're not lending money, and you are just paying for the use of the equipment, we typically* don't require your last two years of financials or a completed personal assets and liability statement or other documents you might need to provide to the bank. With SilverChef, we make it simple to get what you need, as soon as you need it.

* Subject to approval criteria


What are the options to apply for funding with SilverChef?

You can apply by a variety of methods for funding with SilverChef. There is always an option that works for you!  You may apply by:

Phone

Call the Approvals Hotline on 0800 453 010 to receive instant over-the-phone approval.

Online

Apply online now by completing the short application form.

Dealership

Contact your dealership and complete the form with your SilverChef Accredited Equipment Dealer.


What if I want to purchase within 12 months of starting my contract?

With SilverChef, you can! You can purchase anytime you like. In the first 12 months we will deduct 50% off the rent you’ve paid.


What is my payout amount if I choose to purchase?

As we offer a generous rental rebate where the purchase price simply gets lower and lower, call SilverChef at 0800 453 010 and our friendly team will provide you with your payout figure! From here, once we have received payment, you will receive a letter advising that the ownership of the asset has been transferred to you and the equipment is yours.


What happens with the maintenance?

Each new piece of equipment comes with a manufacturer’s warranty, which is passed on to you from your dealer. Once the warranty has expired, similar to any other finance package, you are responsible for maintenance and repair costs.


How does the payment system work?

Our rental agreement term is 12 months, but you have the option to purchase the equipment at any time and 50% of the rent you have paid, comes off the purchase price.


When does the rental agreement start?

The rental agreement begins on the day of your equipment delivery.  Your first payment will then be automatically deducted from your bank account within seven days.