Rent–Try–Buy

Flexible, 12-month rental agreement

Upgrade or buy the equipment at any time

If you buy, get back 60% of your net rental payments

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Get approval for up to $50,000
of equipment funding in under 5 minutes
If you need more than $50K, please contact us | No obligation to use approved finance

A flexible funding solution that allows you to try restaurant equipment before you buy it

WITH SUCH a vast array of restaurant equipment available, making the right choice can be difficult. And what if your business rapidly outgrows the equipment or switches direction and requires different equipment?

Paying a chunk of cash or getting locked into a long-term lease for equipment that turns out to be unsuitable is the last thing you want. 

Rent–Try–Buy takes care of this problem by letting you to test the equipment before deciding whether to buy it.

May suit you if you’re…

  • A new or established business
  • After $1,000 or more of equipment funding
  • Looking to try the equipment before deciding whether to buy it, including items you’re not sure about or think you might quickly outgrow. 

Key features

  • Flexible, 12-month rental agreement
  • Manageable, weekly rental payments
  • Upgrade or buy the equipment at any time
  • If you buy, get back 60% of your net rental payments — to put towards the purchase price
  • Continue renting or return the equipment after 12 months
  • Rental payments are 100% tax deductible.*

How Rent–Try–Buy works

01

We purchase the equipment for you

You choose the restaurant kitchen equipment you want and, after approving your finance application, we buy the equipment on your behalf.

02

You rent it from us

You rent the equipment from us for manageable, weekly payments under a flexible, 12-month Rent–Try–Buy agreement.

03

You choose from several options

You can upgrade or buy the equipment at any time or, after 12 months, continue renting it or return it to us — whichever option is most suitable for you.

01

We purchase the equipment for you

You choose the restaurant kitchen equipment you want and, after approving your finance application, we buy the equipment on your behalf.

02

You rent it from us

You rent the equipment from us for manageable, weekly payments under a flexible, 12-month Rent–Try–Buy agreement.

03

You choose from several options

You can upgrade or buy the equipment at any time or, after 12 months, continue renting it or return it to us — whichever option is most suitable for you.

MID-TERM OPTIONS

At any time during the 12-month rental agreement you can…

Upgrade the equipment

If your business expands or switches direction and the rental equipment is no longer suitable, you can upgrade it.

You can upgrade it to the same or a different type of equipment — provided it’s standard restaurant equipment of equal or higher value than the original equipment. 

You’ll need to return the original equipment to us and sign a new 12-month rental agreement for the upgraded equipment. 

The new agreement will have all the options you had under the original agreement.

Customers are responsible for transporting the original equipment back to us and the cost for us to clean and service the equipment so it can be certified and remarketed.

Enquire now

Buy the equipment

If after renting the equipment you determine it’s perfect for your business, and you have the required funds, you can purchase the equipment at any time.

We’ll reimburse 60% of the net rent you’ve already paid us, and you can put that money towards the purchase price.

We won’t slap you with an early-repayment fee, unlike other lenders.

You’ll just need to inform us four weeks in advance of your intention to buy the equipment.

Enquire now

END-OF-TERM OPTIONS

At the end of 12-month rental agreement you can…

Upgrade the equipment

If your business expands or switches direction and the rental equipment is no longer suitable, you can upgrade it.

You can upgrade it to the same or a different type of equipment — provided it’s standard restaurant equipment of equal or higher value than the original equipment. 

You’ll need to return the original equipment to us and sign a new 12-month rental agreement for the upgraded equipment. 

The new agreement will have all the options you had under the original agreement.

You’ll be responsible for transporting the original equipment back to us and the cost for us to clean and service the equipment so it can be certified and remarketed.

Enquire now

Buy the equipment

If after renting the equipment you determine it’s perfect for your business, and you have the required funds, you can purchase the equipment at any time.

We’ll reimburse 60% of the net rent you’ve already paid us, and you can put that money towards the purchase price.

We won’t slap you with an early-repayment fee, unlike other lenders.

You’ll just need to inform us four weeks in advance of your intention to buy the equipment.

Enquire now

Continue renting the equipment

If after trying the equipment you want to keep your options open or assess your equipment needs at a later date, you can continue renting the equipment month-to-month for as long as you require (the equipment’s purchase price will continue to steadily reduce). 

If you decide to rent the equipment for another 12 months, we’ll recognize your loyalty by giving you a 20% discount on your weekly rental payments (Loyalty agreement).

Your rental payments are 100% tax deductible.*

If you continue to rent, you’ll still be able to:

  • upgrade the equipment at any time
  • buy the equipment at any time
  • return the equipment — at any time if you’re renting month-to-month; or after 12 months if you’ve signed a Loyalty agreement. 

If you purchase the equipment, we’ll reimburse 60% of your first year’s net rental payments and 20% of all subsequent payments — to put towards the purchase price. 

You’ll just need to inform us four weeks in advance of your intention to buy the equipment. 

Enquire now

Work towards owning the equipment

If after trying the equipment you wish to own it, but don’t want to use your working capital, you can opt for Easy Own®.

It enables you to own the equipment over another two or three years for a 15% or 30% discount on your weekly payments respectively. 

These payments are 100% tax deductible.*

It’s crucial you’re sure the equipment is suitable for your business, as you don’t have the option to upgrade or return the equipment (unlike your original rental agreement).

At the end of the term you own the equipment.

Enquire now

Return the equipment

If your situation has changed or the equipment no longer meets your business’s requirements (and you don’t want to upgrade it), you can return it to us once the 12-month rental agreement ends.

You’ll just need to inform us four weeks in advance of your intention to return the equipment. 

When the notice period ends, we’ll send you a letter describing how to return the equipment to us. 

You’ll be responsible for transporting the equipment back to us and the cost for us to clean and service the equipment so it can be certified and remarketed.

We’ll subtract the cost of cleaning and servicing from your security deposit; the remaining amount will be refunded to you.

Enquire now

Don't worry — we’ll remind you closer to the moment!

When your 12-month rental agreement is about a month away from ending — and assuming you haven’t already upgraded or purchased the equipment — we’ll reach out to you.

We’ll check in with you about your equipment’s performance and whether it still satisfies your requirements; and advise you what your end-of-term options are. 

This will provide you with enough time to assess those options and decide which one would be the most suitable for your business.

Watch how it works

Benefits of Rent–Try–Buy

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Unmatched flexibility

Allows your equipment to grow and evolve with your business by letting you to try the equipment before deciding whether to upgrade it, purchase it, continue renting it, or return it.

Flexibility no other financier, cash or credit card can rival.

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60% net rental rebate

If you’re pleased with the rental equipment, you can purchase it at any time.

If you buy it within 12 months, we’ll reimburse 60% of the net rent you’ve already paid us — to put towards the purchase price.

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Improved cash flow

Rent–Try–Buy’s manageable, weekly rental payments enable your business to get the equipment it needs while protecting its cash flow.

Rather than you paying for the equipment up front and depleting your cash reserves, you pay for it in modest instalments out of the revenue it helps generate.

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Income-tax deductions

If your business is profitable, you can reduce your taxable income by claiming your equipment-rental payments as deductible expenses.

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Borrowing capacity unchanged

Your equipment rental payments are not recorded on your balance sheet. 

Consequently, Rent–Try–Buy has no effect on your business’s ability to borrow money from other lenders (or on any existing loan covenants with other lenders).

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No personal guarantees

For funding amounts under $100,000, we usually don’t require director’s guarantees. Instead, the rental equipment serves as collateral for the funding. 

So, if your financial situation changes and/or you no longer require the equipment, you simply give it back to us. 

What our customers say

I was starting a new business and SilverChef sounded like a reasonable way to finance the initial costs as it limits out-of-pocket expenses and allows for tax deductions going forward.

We are a small business that’s growing quickly. SilverChef gave us the ability to get professional equipment without breaking the bank! 

Financing our new oven through SilverChef was a key decision to be able to maintain our cash-flow sanity. 

We have a small business, so we don't have a lot of money to spend on equipment. [SilverChef] financing allows us to get what we need without having to worry about paying for everything all at once.

As a new entrepreneur it's hard to find the help needed, especially in the hospitality industry. SilverChef is giving me the ability to start my business!

SilverChef's financing is easy and transparent, and they understand the hospitality industry.

The process is smooth, simple and straightforward. SilverChef obviously thinks about bakery and restaurant owners who are too busy cooking or baking to deal with lots of paperwork.

SilverChef offers one of the best financing options for new businesses. The process was very easy and quick and the service outstanding.

I decided to finance my equipment through SilverChef as they can help business owners turn their plans into reality. They’ve got a great track record…and are a trusted company.

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GET FINANCE BEFORE OR AFTER YOU’VE SELECTED YOUR EQUIPMENT

Our equipment-finance process

Find out what happens from the moment you pick out your equipment or apply for finance to the point the equipment is delivered to your door.

Equipment before finance


Most people like to select their equipment before working out how to pay for it. If your one of them, no sweat!

Show process Hide process

1. Shop for equipment

Visit an accredited dealer’s showroom or website or the SilverChef website (new equipment) or the SilverChef website (‘Certified Used’ equipment)

2. Apply for finance

There are three ways you can apply for finance:

  • in the dealer’s showroom or on their website 
  • on the SilverChef website
  • by calling us at 1–844–283–7844. 

3. Sign agreement

Once your application is approved, we’ll ask you to electronically sign and send back the Rent–Try–Buy agreement and pay the upfront costs (your first week’s rent and a refundable security deposit).

4. Receive delivery

We’ll purchase the equipment you’ve selected and the dealer (new equipment) or SilverChef (‘Certified Used’ and clearance equipment) will deliver it to your business premises. Your weekly rental payments will then begin.

Finance before equipment


We can approve your finance before you go shopping , so you know how much funding you’ve got at your disposal.

Show process Hide process

1. Apply for finance

There are three ways you can apply for finance:

  • in an accredited equipment dealer’s showroom or on their website 
  • on the SilverChef website
  • by calling us at 1–844–283–7844.

2. Sign agreement

Once your application is approved, we’ll ask you to electronically sign and send back the Rent–Try–Buy agreement and pay the upfront costs (your first week’s rent and a refundable security deposit).

3. Shop for equipment

Visit an accredited dealer’s showroom or website (new equipment) or the SilverChef website (‘Certified Used’ equipment)

4. Receive delivery

We’ll purchase the equipment you’ve selected and the dealer (new equipment) or SilverChef (‘Certified Used’ equipment) will deliver it to your business premises. Your weekly rental payments will then begin.

GET CASH OUT OF YOUR EQUIPMENT…AND INTO YOUR BUSINESS

Buy Back

Did you recently purchase restaurant kitchen equipment, but are now struggling with cash flow issues in your business? If that’s the case, Buy Back could be the solution you need.

It can help alleviate your cash-flow problems by allowing you to rapidly access capital from a concealed source: The funds tied up in your equipment.

Enquire now

Frequently asked questions

What is your interest rate?

Since Rent–Try–Buy is a rental agreement, there are no interest rates involved. 

Nonetheless, you can use our online rental calculator to determine your weekly rental payments and what it would cost to own the equipment if you chose to purchase it after 12 months of renting.  

As the calculator shows, the net cost of owning the equipment may be as low as 10% (after factoring in tax deductions* and the rental rebate).

This figure is in keeping with:

  • the exceptional flexibility our customers enjoy and which is not offered by any other financier, cash or credit card. 
  • the risks we absorb by, for example, enabling customers to:
    • get the equipment they want without committing to the full purchase price
    • obtain up to $100,000 of equipment finance — usually without providing a director’s guarantee / personal guarantee 
    • upgrade the equipment at any time without having to figure out how to offload the original item
    • return the equipment to us after only 12 months without penalty.

Are there any other fees or charges?

Apart from the weekly rental payments (including one week’s rent paid in advance), the only fees and charges are:

  • a refundable security deposit — paid up front and equivalent to six weeks’ rent (funding of less than $200,000) or 12 weeks’ rent (funding of $200,000 or more)
  • the cost of transporting any equipment the customer returns to us during or after the 12-month rental period. The customer pays this cost directly; it varies based on the equipment’s cubic weight and the distance it needs to be transported.
  • the cost of cleaning and servicing any equipment the customer returns to us during or after the 12-month rental period, so it can be certified and remarketed. We pass this cost on to the customer; it varies based on the type of equipment and its condition. 

When will I begin paying rent?

Your rental payments will start once we’ve verified the equipment has been delivered to your business premises. 

If you anticipate any delays due to refurbishment or construction issues, it’s recommended you hold off on ordering the equipment until closer to the date your business is ready to begin operating. 

(Delivery times for equipment in stock typically range from 1 to 8 business days, depending on your location. If the equipment’s out of stock, you’ll need to order it further in advance; your equipment dealer will be able to advise you.)

If your rental payments start before you open your business, please notify us promptly.

When the Rent–Try–Buy agreement expires, will I automatically own the equipment?

No — although your rental payments will gradually lower the equipment's purchase price, there will still be an outstanding balance at the end of the 12-month agreement. 

To confirm how much the balance is, please call us at 1-844-283-7844 to ask for a payout quote.

You can purchase the equipment at any point during the term (not just at the end of it). 

What is the process for buying the equipment?

If you decide you want to buy the rental equipment after trying it out, you’ll need to let us know four weeks in advance of your plan to purchase it. 

Following the notice period, we’ll send you a:

  • payout quote (which explains precisely how the payout amount has been calculated)
  • payment authorization form to fill out. 

If you buy the equipment, we’ll reimburse 60% of your first year’s net rental payments for the first year and 20% of any subsequent net rental payments. You can put these rebates towards the purchase price.

What distinguishes Rent–Try–Buy from Rent-to-Own?

While they have similarities, there’s a key difference between rent try buy restaurant equipment and rent to own restaurant equipment. 

Rent-Try-Buy and Rent-to-Own are both rental agreements that involve building equity in the rented equipment through rental payments. 

With a Rent-to-Own agreement (offered by other companies), the renter automatically owns the equipment at the end of the rental term, which typically ranges from one to five years. 

However, with a Rent–Try–Buy agreement (exclusive to SilverChef), the renter does not automatically own the equipment at the end of the 12-month term (i.e. there is still money owing on the equipment). 

Instead, they have the option to purchase the equipment at any point during the agreement. If they buy it, they get back 60% of their first year's net rental payments (and 20% of any subsequent net rental payments) — to put towards the purchase price. 

Still have unanswered questions? See all our FAQs


* The Canada Revenue Agency (CRA) allows most expenses involved in running a business to be claimed as a tax deduction. These expenses must relate directly to income earned and be used for a commercial (not personal) purpose. They include operating expenses (e.g. rental payments) and capital expenses (e.g. depreciating equipment). This advice is general in nature and does not consider your particular circumstances. You should seek professional advice tailored to your personal situation.

Not what you’re after?

If you’re certain about the type of restaurant equipment you require or if it’s a significant investment and you’d prefer to make smaller payments over a longer period, Lease-to-Keep may be the ideal solution for you.

 

It enables you to use the equipment and pay for it in low, monthly amounts over four or five years. After you make your final equipment payment, you own it. 

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