Be aware that device lifecycle flows for expiring devices are exclusively accessible within the Lifecycle billing / Standard plan. And currently in beta version, only available for selected companies.
As a device purchased through the Velory store nears the end of its lifecycle, there will be two possible actions to take - Buyout of device or Return of device.
Users with leased devices will receive email notification and page alerts 3 months before renewal date. During this period, they can make a preliminary choice selection that remains flexible until 1 month before the renewal date. This early selection helps the company's IT team anticipate and plan for device buyouts and returns. While this choice is not a final commitment, providing an early preference supports the planning process.
More information about the different options
Buyout device
Preliminary choice
Based on your company’s setting, the device page will show the following options 3 months before the renewal date:
- Buyout option (with estimated value)
- Return option
In the first initial step, you will make a preliminary choice to help the IT team plan for upcoming requests. The decision can be changed anytime within the 2-month period. Making this preliminary choice simply updates the device’s status, allowing the IT team to view the data for better planning.
Final decision
One month before the renewal date, you will receive an email notifying you to make a final decision about the current device. This decision is final and cannot be changed, so it's important to be sure about the choice you make.
If you decide to proceed with the buyout, you will be redirected to the payment interface powered by Stripe (integrated with the device leasing provider) to complete the payment using a personal card. After a successful payment, a receipt will be sent to your email if the leasing provider has enabled this option in their Stripe account.
Once the device is purchased, its status will update to "Active - bought by employee" and you can continue using it for work until a replacement arrives. After the purchase, you can visit the store to request a new device.
Please note that you will not be able to place a request in the store for a new device until you have taken the final decision of your current device.
When delivery of the new device is finalized, ensure the new device is set up and all data from the old device is transferred. Once the bought-out device is ready for personal use, the admin must mark it as "released" in Velory. This step is required to finalize the process and allow the device to be used privately. After the bought-out device is marked as released, its status will update to "Bought out by employee" and it will no longer appear in your active device asset management. At this point, the device is fully yours for private use!
Return device
Preliminary choice
Based on your company’s setting, the device page will show the following options 3 months before the renewal date:
- Buyout option (with estimated value)
- Return option
In the first initial step, you will make a preliminary choice to help the IT team plan for upcoming requests. The decision can be changed anytime within the 2-month period. Making this preliminary choice simply updates the device’s status, allowing the IT team to view the data for better planning.
Final decision
One month before the renewal date, you will receive an email notifying you to make a final decision about the current device. This decision is final and cannot be changed, so it's important to be sure about the choice you make.
If you choose to return the device, its status will update to "Active - pending return" allowing you to continue using it for work until your replacement device arrives. After finalizing your decision, the leasing company will be notified and will begin preparing your return label, which you’ll receive via email within 24 hours on weekdays.
Important: Do not return your old device yet! First, visit the store, request a new device, and wait for it to arrive before proceeding with the return.
Please note that you will not be able to place a request in the store for a new device until you have taken the final decision of your current device.
Before returning the old device, you should set up the new one and transfer any necessary data. This process is outlined in the email you’ll receive telling you that it is time to start the return of the old device, and also on the device details page.
When you are ready to return the device, you follow the return instructions provided in the separate email you have received from the leasing provider. This email includes a printable return label which you should attach to appropriate packaging and send the device back as soon as possible.
Once the leasing provider receives the returned device, they will confirm the return and release it. This process ensures the device is removed from all company systems and that the leasing contract is officially closed.