Lease-to-Keep

Spread equipment cost over 4 or 5 years

Interest rate fixed for entire term

Own the equipment at end of lease

Apply Now

Get approval for $10,000

or more within 2 business days^

No obligation to use approved finance

A finance solution that enables you to spread your equipment payments over time and protect your cash flow.

COMMERCIAL kitchen equipment can be pricey and, for many hospitality businesses, unaffordable.

Even if you have the ability to purchase the equipment outright, the expense could cause a cash-flow crunch in your business.

Lease-to-Keep makes equipment more accessible and lowers your financial risk by letting you to pay for the equipment in smaller amounts over several years.

May suit you if you’re…

A business that’s traded for more than 12 months
After at least $10,000 of equipment funding
Looking to own the equipment but would prefer to pay for it in smaller instalments over a longer term.

Key features

48 or 60-month hire-purchase agreement
Low, monthly payments
Fixed interest rate
Own the equipment at the end of the agreement
Interest component of the equipment leasing payments and the equipment’s depreciation are tax deductible.

How Lease-to-Keep works

We buy the equipment for you

You select the equipment you want and, after approving your finance application, we buy it for you.

You lease it from us

You lease the commercial kitchen equipment from us for low, monthly payments over four or five years.

You own it

At the end of the lease, you own the equipment.

We buy the equipment for you

You select the equipment you want and, after approving your finance application, we buy it for you.

You lease it from us

You lease the commercial kitchen equipment from us for low, monthly payments over four or five years.

You own it

At the end of the lease, you own the equipment.

Cost of finance

Our Lease-to-Keep interest rate depends on your business circumstances, including how much you borrow, how long you’ve been trading, and your business’s creditworthiness. Your circumstances will also influence the equipment-value amounts and term lengths you qualify for. For more information, please call us on 0800 453 010.

Benefits of Lease-to-Keep

Enhanced cash flow

Instead of paying for the equipment outright, you can pay for it in low, monthly instalments out of the money it helps you make.

This helps safeguard your business’s cash flow, allowing you to meet your other expenses and expand your business with greater ease.

Stable interest rate

The interest rate is fixed for the life of the agreement, so you won’t have to fret about the effect of any cash-rate increases by the Reserve Bank of New Zealand.

Since you pay the same amount each month, your budgeting and cash-flow projections will also be simpler.

Top-quality equipment

You can get high-grade equipment that would otherwise be beyond your means, enhancing your business’s efficiency and productivity.

It means that, rather than you settling for the next-best equipment, you can get the appliances you want.

Tax savings

The interest segment of your commercial kitchen equipment lease payments is a tax-deductible expense.

In addition, you claim a deduction for the equipment’s depreciation over its effective life.

Early-payout option

If you have the money, you can pay off the equipment early.

We’ll reduce the interest owing on your remaining payments (though you’ll be charged a small early-termination fee).

Transfers permitted

If you lease equipment from SilverChef and sell your business, you can request that we assign, or transfer, the lease agreement to the new owner (subject to their approval and our standard credit-assessment criteria).

What our customers say

SilverChef has made it possible for us to expand our business … without the huge stress of having to put all our cash into purchasing brand-new equipment.

Erana Blandford

Puku Ora

Gisborne, Hawkes Bay

[I like the fact] SilverChef is focused on kitchen equipment financing. Their finance terms, options, and flexibility are very competitive compared to other financiers.

Sang Hack Han

The Chicken Korean Fried Chicken

Christchurch Central City, Christchurch

This was so much easier than dealing with the bank. SilverChef has been so helpful and efficient!

Amanda MacLaren

The Doughnut Box

Taupo, Waikato

As this is my first hospitality-industry experience, money was a big problem, but with SilverChef I could get all the equipment I dreamed of without any hassle. It doesn't matter how big you are in hospitality — SilverChef is there for everyone.

Shehan Dissanayakage

Ciao Ceylon

Dinsdale, Hamilton

SilverChef has been a great tool for us. It has allowed our kitchen to upscale equipment to meet growing demand without having to spend time reselling what we don’t need.

Luke Houghton

Cream Eatery

Hamilton Central, Hamilton

Thanks to SilverChef, we replaced three cooking appliances with a MerryChef and can now present much better food. We couldn't have done it without SilverChef.

Paul Seeney

Tarras Country Café

Tarras, Central Otago

It was an easy application process and I prefer usingused equipment instead of buying new. This is not only cheaper, but also more sustainable.

Dominic van den Broek

The White Cedar Café

Rumeura, Auckland

SilverChef has allowed me to access the equipment I needed to scale up my business and increase my supply.

Debbie Stowe

Olive and Ash

Onerahi, Whangarei

SilverChef has provided a seamless financing option to help us create our new retail space.

Michael Isbey

Matakana Smokehouse

Matakana, Warkworth

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Frequently asked questions

How much interest do you charge?

The interest rate for Lease-to-Keep depends on the customer’s business circumstances.

It can vary depending on factors such as the amounted borrowed, how long the customer’s business has been trading, whether it has ample cash to service the lease, and its creditworthiness.

To confirm what rate you’d be charged, please call us on 0800 453 010.

Do I have to provide a personal guarantee / director’s guarantee?

Yes — a director’s guarantee is compulsory for all Lease-to-Keep agreements (regardless of the cost of the lease equipment).

For more information, please contact us.

Are there any other fees or charges?

Other than the interest levied on the financed amount, there are only two fees customer incur:

lease establishment fee of $495 (paid up front)
early-termination fee of $300 (only if you pay out the equipment before the lease term ends).

When will the lease payments start?

Once we confirm the equipment has been delivered to your business premises, your restaurant equipment leasing payments will begin.

We recommend you order your equipment shortly before your venue is ready to start trading and to postpone your order if you anticipate any delays related to, for example, a full store fit-out or refurbishment.

(Depending on your location, equipment in stock takes 1–8 business days to be delivered. Out-of-stock equipment needs to be ordered sooner, due to the longer lead times; your equipment dealer will be able to advise you.)

If you have yet to start trading but are being charged lease payments, please contact us as soon as possible.

Who owns the leased equipment?

Although the equipment is in your possession, SilverChef owns it until you submit your last lease payment, whereupon you become the owner.

We’ll record an interest in it on the Personal Property Security Register (PPSR).

You’re free to use the equipment as you please, but only for business (not personal/domestic) purposes; and provided you don’t sell, give, assign, lend or release the equipment to a third party to use without our okay.

Also, if you shift the equipment from the location you originally provided us, you must let us know straight away.

Can I upgrade the equipment?

No — Lease-to-Keep doesn’t give you the option to upgrade equipment during the finance term.

If you’d prefer a more flexible agreement that allows upgrades at any time, Rent–Try–Buy may be the answer you’re looking for.

Still have unanswered questions? See all our FAQs

^ Two-day timeframe is subject to the applicant providing SilverChef with all the information we require to process their application.

* This advice is general in nature and does not consider your personal circumstances. Professional advice should be sought that is tailored to your personal situation.

Want more flexibility?

If you’d rather not to get locked into a lengthy lease or you’re in two minds about which hospitality equipment you need, Rent–Try–Buy may be the solution you’re looking for.

It’s a 12-month rental agreement that lets you to try out the equipment before deciding whether to purchase it.