This client is an international Research and Development company with a large mobile workforce.
Techfin needed to provide a flexible financing facility for the provisions of 150 computer tablets. Total spend $500K AUD
The customer has been implementing a mobile tablet infrastructure over the last 3 years and has identified that with the pace of technology advances that the tablets that would normally last 4 years, are now becoming obsolete earlier.
Through managing the fleet of tablets and cannibalising older units they still wanted to target a 4 year life cycle with the option to dispose of the assets after 3 years.
Techfin put in place a four-year rental facility with a Flex Point option that allowed them to retire some or all of the tablets after 3 years with no additional costs. If at the three-year option they feel they can manage some or all of the assets to last a further year, the monthly rental payments are adjusted to reflect the decreased number of assets on rental.
Tablet purchase amount $500,000.00
Finance term 48 Months
Payments $13,400.00 * 36
$6,800.00 * 12#
# The monthly payment of $6,800.00 for the final 12 months assumes no tablets are returned. This amount will be pro-rated to reflect the number of tablets returned should they choose to do so.