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.