Payment holiday terms and conditions
- Splend may, in its absolute discretion, offer the Customer a Payment Holiday period subject to following terms.
- Eligibility Criteria
- Eligibility will now require no more than 1 failed payment in the last 3 months.
- A crash probability score of less than 9 (effective from 1st June 2024)
- Payment Holiday Contribution
- $99 weekly contribution required during each weekly Payment Holiday period.
- Payment Holiday Vehicle Usage
- During the Payment Holiday the vehicle is not permitted to be driven more than 200 kilometres within a single week.
- Should you exceed the 200km per week limit while within your Payment Holiday Period, the full weekly rental amount will be due and payable.
- All Payment Holiday Contributions will partially offset increases in your term from Payment Holidays, meaning you will own your vehicle sooner.
- Payment Holiday Quantity – After completing your minimum period, you will be eligible for a 2-week Payment Holiday.
- Following the initial 6 months after your minimum period, you’re entitled to an additional 2-week Payment Holiday. This means, within a year past your minimum period, you could accumulate up to 4 weeks of Payment Holidays
- Every 6 months thereafter, you have the opportunity to request a further 2-week Payment Holiday. It’s important to note, the total limit of Payment Holiday entitlement will remain capped at 4 weeks within any 12-month period post your minimum term.
- Early Termination of Agreement – If you chose to terminate the agreement before the end of the full term, you will be liable to pay for any Weekly Hire Payments that were subject to Payment Holiday periods during your subscription period, and these must be paid in full (less any Payment Holiday Contribution) when you return the vehicle.
- For example, if you have taken a total of 2 weeks Payment Holiday during your term and wish to terminate your contract early, your Weekly Hire Payments for these two weeks (less any Payment Holiday Contribution) will be part of your termination charges.
- The Weekly Subscription Payment to be paid upon resumption after any Payment Holiday is the next scheduled amount which was due to be paid prior to the commencement of the Payment Holiday.
- Payment Holidays apply from Monday to Sunday of a week.
- Payment Holidays can only be taken in weekly increments and not days.
- Payment Holiday allowance cannot be carried over to the following 12 months.
- The Payment Holiday does not include any kilometres or ancillary charges. Any kilometres or ancillary charges incurred during this period will be included in the next scheduled payment.
- Payment Holiday requests must be made at least 1 week before the payment holiday week is due to begin
- Payment Holidays must be cancelled at least 1 week before the payment holiday week is due to begin.
Cancellation notice for the agreement cannot be provided during the Payment Holiday.
