What is Quickrent?

A Quickrent Lease, also known as an operating lease or fixed term equipment rental, basically allows you to rent a product for a pre-agreed period.  You do not own the equipment, but you get all the benefits of ownership.  At the end of your agreement you have the option of upgrading to the latest technology, continuing to rent, or simply returning the equipment with no further obligation.

What products can I Quickrent?

Quickrent is available for our internet cafe systems and point of sale systems.  Services can not be paid via Quickrent, and orders which do not include hardware can not be paid via Quickrent.  For example, you cannot Quickrent just software, but you can Quickrent a PC which includes the same software.

Benefits

Leasing is the easiest way to limit capital expenditure on depreciating assets.  Business growth means planning for change.  Technology equipment provides benefits that help you market your business to your customers.  With increasing rates of technology obscelescence, technology based leasing makes more sense than ever!

• Flexibility
  We recognise that you have different equipment and financing needs, and so we offer customised programs, such as appropriate terms and unique payment structures to help meet those individual needs.

• Easy Ability To Upgrade
  A program that keeps you in front of the fastest technology changes by building in the capacity to plan for new add-ons or just change when you need to.

• Options Without The Commitments
  At the end of your agreement you have the option of upgrading to the latest technology, continuing to rent, or simply returning the equipment with no further obligation.

• Opening Another Door
  By establishing another source of funds, clients can preserve existing bank lines which are an essential source for short-term needs.

• Tax Advantages
  Rental payments are usually fully tax deductible, if equipment is for business purposes.

• Personal Account Manager
  Your point of contact is someone who knows how you like things done. Experience within your industry enables us to provide finance options to meet your needs. Should those needs change during
  the term of the Agreement your Personal Account Representative will be there to assist with a range of upgrade options.

• Conservation Of Capital
  Renting means clients can maintain higher cash reserves for emergencies, as we know problems can quickly surface to wipe out those valuable reserves. Renting conserves capital.

• Avoid Equipment Obsolescence
  By possessing the ability to upgrade at the end of the term, you can ensure your business is employing current technology and equipment that best suits your needs at any point in time.

• CIT Provides Options And Flexibility Without Obligation
  Rental provides business customers with flexible end of term options. There is no obligation to purchase the equipment. At the end of the term you can choose to trade your equipment up to the latest technology, or continue to rent the equipment month to month or for a further fixed period at a
  reduced payment, or hand back some of the equipment or simply return all of the assets (subject to the provisions of the Agreement).

Who is eligible for Quickrent?

To be successful, applicants usually require an ABN which has been trading for 2 years or more, and usually applicants are required to make a personal guarantee over the rental agreement.

How long does approval take?

A credit decision is usually available in less than 24 hours.

When can I take delivery of the equipment?

Your order will be deemed as accepted once your Quickrent application has been approved and all relevant paperwork has been provided.  Then the standard delivery time-frames apply.  Typically there are no delays caused by using Quickrent to acquire your equipment compared to any other payment method.

What is the interest rate?

By renting, you are paying for the use of the equipment instead of paying for ownership. Because you are not "paying off" the equipment there is no actual interest rate. It's a fixed term Rental Agreement, similar to renting a car or a house.

Is there a residual on this Agreement?

No, there is no requirement for you to pay a residual at the end of the term and take ownership of the equipment.

What happens if, for example, after 12 months into a 48 month Agreement I need to return
the equipment?

You need to be aware that Quickrent is a fixed term Agreement. If you wish to return the equipment without upgrading to new equipment then CIT will provide you with an early termination figure.

Can I get a copy of the Agreement?

Yes. One of the great features of Quickrent is that both the Application and Agreement sections are set out on the one page. There is also one page of Terms and Conditions that you need to read. Once the Agreement is signed by you and us, you will be provided with a copy of your Agreement.

When do my payments begin?

Your payments will begin after settlement of the transaction. Your rental payments are made in advance by Direct Debit or major Credit Card.

Do I get statements on my account?

You can contact the CIT customer service department on 1800 555 885 to find out information about your account. However, CIT do not offer invoicing on Quickrent transactions.

How do I apply?

First, find the products you are looking for and have us prepare a quote for you.  When you are happy with the quote and ready to proceed, simply complete the Quickrent Application Form.  Click here for the Quickrent Application Form.