Our goal is to assist you in meeting your IT management needs and mid-lease and end-of-lease responsibilities. As your lease term draws to an end, consider your end-of-lease options:
- buy-out: If the equipment continues to meet your needs, you can purchase it at the current fair retail market value.
- renewal and mid-term extensions: HP Financial Services offers standard renewal options for 6, 12, and 24 months. We can also customize a renewal period to suit your needs. The renewal option may also address your budgetary needs, since it is priced lower than your current payment.
- month-to-month renewal: When more time is needed before making a decision about your leased equipment, letting the lease automatically renew maybe the solution you are looking for.
- returns: When the leased equipment no longer addresses your technology needs, it can be returned to HP Financial Services, consistent with contract notice requirements.
Additional Facts on Leased Equipment Returns
The HP Financial Services standard contract requires written communication of your end of lease decision at least 90 days prior to lease expiration. If you have not informed us of your end-of-lease decision, the lease will automatically renew based on your lease contract until notice is received.
When you decide to return the equipment and arrange for the shipping, your billing is turned off based on the date your leased equipment is received at our warehouse. If you choose to have HP Financial Services pick up your equipment billing is turned off on the date it leaves your possession.
Equipment Listing
Please call your portfolio analyst for the list of equipment you need to return. You will also receive a “return authorization” number for each of your return. Remember to include this number, in addition to your company name and HP Financial Services contract schedule, with each return to ensure proper credit to your account. Please note, if any of the equipment on this list is not returned, you will be billed at the fair market value of the equipment.
Once you identify what leased equipment will be returned, we will issue a “Return Authorization” (RA) number for each of your returns. Remember to include this number, in addition to your company name and HP Financial Services contract schedule, with each return to ensure proper credit to your account.
End of Lease Support
Your Financial Area Manager (FAM) is your initial contact and can best engage the various resources of HP Financial Services during the end-of-lease process. If additional contacts are required to provide the appropriate level of service, your FAM will coordinate and monitor this activity to your ultimate satisfaction. Typically, the FAM will assign a Portfolio Analyst to coordinate asset purchases, renewals and returns, while a member of the Logistics Group will work with you on the details of equipment returns.
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