When the buyout option is enabled, users can choose to purchase their device for personal use once it nears the end of its renewal period. This option, along with the buyout price, will appear on the device page:
- The buyout option appears 1 month before the renewal date.
🧠In this guide:
- Step 1: Employee initiates the buyout
- Step 2: The new device is delivered
- Step 3: Mark the new device as received
- Step 4: Mark the bought out device as released
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Step 5: Bought out device is ready to be used privately
Step 1: Employee initiates the buyout
Once the user clicks Buyout, they’ll be taken to a payment page (powered by Stripe) to complete the purchase. A payment receipt is automatically sent to their email once the transaction is successful.
After purchase:
- The device status updates to "Active – bought by employee".
- The employee can still use the device for work until a replacement is received.
They should then go to the store in Velory and request a new device.
If the buyout option is inactive
There may be times when you notice that the buyout option for a device is inactive. This is due to settings configured by your company admin.
Why is this happening?
Company admins can define a specific timeframe during which buyouts are allowed. This is often related to internal financing policies, such as the need to:
- Summarize and calculate VAT
- Report buyouts at certain times of the month
As a result, the buyout option may only be available on specific dates each month.
What should I do?
If you open a device and see that the buyout option is inactive:
- Check the message displayed on the page – it will show the exact dates when the buyout window is open.
- Return during those dates to proceed with the buyout of your device.
Step 2: The new device is delivered
Once the new device is shipped and delivered:
- The user receives an email notification confirming that the device is ready for pickup.
📦 Note: The delivery flow may vary depending on your company’s settings and the delivery address.
Step 3: Mark the new device as received
After receiving the new device, it must be marked as received — either by the employee or an admin, depending on your company setting.
To do this:
- Go to the new device's page.
- Click Mark as received.
Once marked:
- The bought out device will be ready to release from any internal MDM systems and then confirm the release of the device in Velory.
Step 4: Mark the device as released
After the newly bought device is marked as received:
- The option Mark as released will appear on the device page on the old device.
To release the device:
- Only an admin can perform this step.
- Click Release device.
- A pop-up will remind you to follow your company’s protocol for unused devices (e.g., removing it from MDM).
- Click Release device again.
Step 5: Bought out device is ready to be used privately
After the device has been released:
- Device status is updated to Bought out by employee
- Device is not longer available as an active device in the company assets
- An email is sent to the user to confirm that the bought out device is ready to be used privately.