What different types of leasing do you offer?

We offer Finance Lease. Finance Lease gives you the use of Apple technology for a pre-agreed cost and period of time, with 100% of the capital cost spread over the lease period. You would be responsible for maintaining and insuring the equipment, and capitalising the leased equipment on your balance sheet.

Can I finance my complete Apple package?

Yes, all our leasing products contain the flexibility to allow you to finance Apple supplied hardware, software, installation costs, peripherals and warranty.

How frequently must I make payments on the lease?

The normal payment frequency for a lease is quarterly by direct debit. However, if you would prefer to pay monthly, termly, annually or bi-annually, this can also be arranged.

What are my options during the lease?

We offer a number of flexible options to you during the lease term. They include:

• Upgrade option — This option enables you to improve the configuration of some, or all, of your existing computers during the lease term. This would be financed by extending the leasing period or by increasing your regular payments for the remainder of your lease.
• Exchange option — This option enables you to have a planned replacement when we create your initial lease. Alternatively, we can exchange your leased equipment retrospectively. The exchange can be financed by extending the leasing period.
• Add-on option — This option lets you add additional equipment to your existing agreement. This is also referred to as a Co-Terminus agreement. The Apple Financial Services team will provide you with an add-on figure. For documentation purposes an Add-On Schedule will be completed.
• Technology Refresh — At any time during the life of the agreement you will be able to take advantage of the Technology Refresh option to upgrade or enhance your equipment. This means that your customers will be able to exchange a pre-determined amount of equipment, without an increase in their rental. This amount is called the Technology Refresh Allowance.

What are my options at the end of the lease?

We understand that you need a number of solutions to help you make the best decisions at the end of the lease term. As such, we have developed a number of options:

• Purchase option — Apple Financial Services may sell back to the customer’s designated party for 2% of the original cost.
• Extend the lease — Yes, an extend option is available.
• Return the equipment — Yes, you can return the equipment.
• Refresh option — You can lease new equipment and return the old equipment.
• Ownership — The equipment belongs to Apple Financial Services. However, you may be able purchase it at the end of the lease term.

Am I personally liable if I sign on behalf of my institution?

No, we make the credit decision based on the institution itself.

What if I need my computer equipment before I have funds available?

You can defer your first payment up to 6 months after the start of the lease term.

Do I need to insure the equipment?

Yes, responsibility for insuring the equipment lies with the institution.