FAQ's

Why should I use Lenovo Financial Services when I can use my own cash or get financing from the bank directly?

  • Lenovo Financial Services subsidises the transaction lowering the total cost of funding for the equipment

  • When you use our services, we manage the assets for you, take care of asset disposal and offer flexible equipment upgrading options with no book losses etc. which traditional banks cannot offer.

How does Lenovo Financing actually work?

  • Should you wish to pursue a rental option; a quote will be provided detailing your specific requirements together with pricing;

  • Quotes are typically quoted for quarterly rental periods;

  • Should you wish to proceed, an application form will be required which will be used for credit vetting purposes;

  • On successful application, Lenovo Financial Services will prepare a rental contract which will be required to be signed by you;

  • On receipt of relevant paperwork, Lenovo will deliver the equipment;

  • Rentals will be collected on a periodic basis for the duration of the rental period.

 

What happens at the end of the rental term?

Lenovo Financial Service’s dedicated End-of-Term team will engage with you months before your rental contract is due to expire, allowing you enough time to decide if you want to:

  • Replace and Return the old assets;

  • Extend the contract;

  • Negotiate a solution that combines the above options.

 

You will also have a dedicated relationship manager who will be involved with you throughout the whole process

Is the rental off balance sheet?

  • Yes it is in terms of IFRS (but subject to your auditor’s financial opinion).

How will I know that my equipment is coming to end of term?

  • Lenovo Financial Services’ dedicated End-of-Term team will engage with you months before the contract is due to expire, allowing you enough time to decide if you want to return the assets, extend the contract or negotiate a solution that combines the two;

  • You will have 24/7 online access to all your contracts where you can track the expiry dates of all your contracts, giving you full control

 

Are the rentals payable to Lenovo Financial Services by me tax deductible?

 

  • Yes, 100% of the rentals payable to Lenovo Financial Services are tax deductible, in the period in which they are due.

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