grenke’s Leasing FAQs

A business equipment lease allows a company to spread the cost of acquiring equipment over a specified period, eliminating the need for an upfront payment. This financing option helps businesses manage cash flow and budget more effectively.

Business equipment leasing is for almost any type of business, providing a cost-effective way to preserve cash flow while investing in future growth. Over the past 40 years, grenke has offered leasing solutions to a wide range of businesses and organisations, including sole traders, associations, industrial provident societies, NHS trusts, local education authorities, local government bodies, partnerships, limited companies, and PLCs.

grenke operates independently of equipment manufacturers and resellers, enabling us to offer leasing for a wide range of equipment. Our unique underwriting approach allows us to consider various items, including but not limited to IT hardware, software, copiers, telecoms, medical equipment, vending machines, commercial catering equipment, office furniture, green technology, hospitality equipment and EPOS systems. If you have specific equipment in mind that is not listed, please feel free to your local grenke contact – we are open to leasing wide variety of equipment.

Typically, your chosen equipment supplier will submit a lease proposal to grenke on your behalf. If your equipment reseller is not currently partnered with grenke, please ask them to consider using our services. Alternatively, speak to a member of our team to get started.

Your lease begins once you have signed the grenke Hire Agreement (Leasing contract) and the delivery confirmation certificate. After signing, these documents are sent to grenke, who will process your contract paperwork within 24 hours.

After your grenke leasing contract is activated, you will have confirmed whether you wanted to receive your documentation via email or post. In whichever format you requested, you will receive your grenke Welcome Pack. This includes:

• Welcome Letter which includes your Activation Code to the customer portal
• Leasing Journey Information Leaflet
• A copy of your Hire Agreement and the signed Delivery Certificate for your equipment
• Your first Invoice for Payment – this will include your first quarterly or monthly initial payment and may include a Daily Rental Invoice (explanation) [If your contract commences 10 days before the start of the next quarter or month (depending on which payment frequency you selected) we will require 10 daily rentals. These are calculated equal to one - thirtieth of a monthly rental) or a Document Fee Invoice.
• An Invoice for Annual Insurance Cover pro-rated for agreements taken out after 1 January. This will be credited should evidence of self-insurance be provided within 4 weeks of the activation of the Contract.

If you have not received any communications from grenke with your documentation, please get in contact with the Customer Care Team on [email protected]

Your first lease payment with grenke will be deducted once all signed documentation has been returned and your contract is activated. The payment will be processed according to your payment profile, taking into account payment terms and Direct Debit transaction windows.

Your lease payments with grenke are collected based on your chosen repayment profile:

• Quarterly Repayment Profile: Payments are collected on the 1st of January, April, July, and October. This option is popular among customers as it reduces administrative tasks and simplifies reconciliation.

• Monthly Repayment Profile: Payments are collected on the 1st of each month.

Please note that payments may take 3 to 5 days to appear on your bank statement, depending on the processing time of the merchant, payment processor, and bank.

Yes, VAT is charged on your grenke leasing contract at the prevailing rate throughout the duration of the contract.

However, we do not charge VAT on the invoices issued for our Equipment Protection. HMRC guidelines confirm that the grenke Equipment Protection is not a core service therefore is VAT exempt. For any further information please get in contact with the Customer Care Team at [email protected]

In accordance with the Terms and Conditions of the Contract, you are required to insure the equipment you are leasing. You can either insure the equipment yourself, or as many of our customers decide to do, you can use grenke’s cover at a competitive premium.

If you would prefer to take out your own insurance, we would need to be provided with evidence of self-insurance to [email protected] within the first four weeks of your Agreement going live with grenke. Evidence includes either:

• a copy of your current insurance policy which shows your company’s name, insurer, insurance policy number and the contents page showing sufficient cover for the leased items.
• a letter from your insurance company / broker which details your insurance cover and notes grenke’s interest in the leased items.

We will include an invoice for the annual insurance cover (pro-rated for agreements taken out after 1 January), with the grenke Welcome Pack. Insurance of the Equipment will automatically commence and payment will be taken if grenke have not received the specified evidence of self-insurance within the 4 week timeframe.

grenke issues out all the Annual Equipment Protection invoices to all customer who have insured their equipment under the grenke’s cover in December. All equipment must be insured and customers can choose to use their own insurance or use grenke’s.

If you did not provide evidence of your own insurance [list of suitable evidence provided in your Welcome Pack], you will automatically be insured within grenke’s cover.

The invoice for the cost of this cover is issued in December and payable in January as a separate payment from your rental.

In December, you will receive a VAT Schedule if you pay your lease by Direct Debit. This document provides advance notice of your Direct Debit payments for the upcoming year, including payment dates and amounts.

The VAT Schedule is essentially a 'Tax Invoice' that outlines VAT regulations. Please note, it is not a demand for payment but rather a notification of the VAT details related to your lease payments.

With our leasing agreement, you are paying for the use of the equipment rather than towards ownership. This means that, at the end of the lease term with grenke, you will not automatically own the equipment.

If you are interested in purchasing the equipment at the end of your lease, you would need to discuss this directly with your equipment supplier. Ownership options or a potential purchase can be explored once your lease with grenke is complete. [Full term payment or via a Settlement].

Yes you can. You will need to inform grenke a minimum of 90 days before you wish to end your Contract with us. A settlement figure can be requested from a member of the grenke Team via phone or email [email protected]. Once the notice period has been completed and the outstanding settlement amount has been paid in full, you will need to return the equipment to us, or any third party as directed by us.

All customers must provide 90 days written notice sent to [email protected] confirming that they would like to cease leasing the equipment at the end of the Primary Period. The Equipment must be returned to grenke or a third party when the lease period ends.

If you wish to receive your invoices directly to your Inbox, you will need to Activate your Customer Portal using the issued Activation Code or by requesting a new Code from our Customer Care Team. Within your Portal you can click on Invoices, Invoice copy by e-mail, and then add your email address. Complete the required form and submit to opt in for E-Invoices.

Otherwise, all your grenke invoices will be sent by post to invoice payees when they are due.

Please get in contact with the Customer Care Team at [email protected] who will provide you with a new Activation Code for each company entity.

Within your existing Portal Account you can click on My Data, then Manage Logins, where you can and then input the new activation code(s). When you next login to the grenke Customer Portal (please allow up to 24 hours) and you will be presented with a new landing page which will enable you to select the new entities you wish to view.

Yes. The grenke Customer Portal allows you to manage all your contracts simply and securely online. View, download and print all documentation associated with your Lease. Moreover, it gives you access to digital invoices that meet all statutory requirements, e.g. for VAT returns. With a click of a button, you can receive your invoices directly to your inbox.

The Portal manages your data, with the ability to set up secure access for employees as well as update your, bank details and make any claims on your grenke Equipment Protection.

How to Register – Open the Portal and click ‘Registration’. Enter your email, password and the Activation Code when can be found in your Welcome Pack Letter. Should a new Activation Code be requested, this will be issued in the post [which may take up to 10 days]. Should you wish to receive one immediately, email [email protected] and a member of the Customer Care team will email you with your new Code.

It is important we hold accurate data about your company. If you have changed your company address, bank details or any data relevant to the operation of your business, you must notify us. This can be done via the grenke Customer Portal or you can email us at [email protected]

To get in touch with grenke, you have several options:

1. Customer Care Team: For general support or inquiries, contact our Customer Care team. You can reach them by phone at 01483 401 755 or via email at [email protected].

2. Local Branches and Sales Team: grenke has a network of 10 branches across the UK. To find your local branch or contact a specific department, visit our ‘Who is Who’ page for a full list of contacts.

For assistance throughout your leasing journey, our team is here to help.

Yes, as of 2024, grenke offers additional financial products through our subsidiary, GC Factoring Ltd. Invoice FInace which helps businesses manage cash flow by advancing funds against outstanding invoices.

To learn more about our invoice factoring services and other financial solutions, visit our Business Areas page or contact our team for personalised assistance.