Leasing a forklift is an excellent alternative to buying new or used material handling equipment. There are many advantages to leasing, including buying at the end of the lease or trading in your leased equipment for the newest model. Read on to learn the answers to frequently asked questions about leasing a forklift.
What are some of the benefits of leasing a forklift?
- Get a new model every few years. Do your operators want the latest bells and whistles when a new forklift model comes out? Leasing allows you to upgrade to the newest model when you turn in an old model at the end of the lease. Your operators will thank you.
- Get new equipment every few years. Sometimes you need an entirely different forklift, order picker, reach truck, or other material handling equipment. Just turn in your forklift at the end of your lease and pick up the new equipment you need.
- Lower monthly payments. Lease payments are often lower than loan payments. Run the numbers so you can make the best decision for your company.
Can someone help me pick the right material handling equipment?
- Yes, our experts perform a site visit to assess your needs and help you choose the right equipment for your facility.
What happens after delivery?
- As your material handling solutions partner, we are always available to answer any questions about your equipment or other material handling needs.
Can I add a maintenance program to my leased forklift?
- Yes, we highly recommend a planned maintenance program (PM). Ask your material handling expert for options.
How long is a typical forklift lease?
- Typically, a forklift lease includes 40 hours of weekly utilization (about 2,000 hours per year).
What happens if we go over the utilization hours?
- Overtime charges may apply, which can range from 45 cents per hour to more than $5.00 per hour.
Can I request more utilization hours in my lease agreement?
- Yes, if you think you will use your forklift more than 40 hours per week, you can request a higher amount in your lease agreement.
Should I choose a short or long-term lease?
- If your utilization rate is low and you want the lowest payment possible, you should pick a 5–6 year lease. If your forklift usage is high, you should consider a shorter lease.
How much do I pay upfront?
- In general, there is little or no money due at signing.
Can I buy the forklift after the lease ends?
- It depends on your lease agreement. If you want this option, make sure you ask for it before you sign.
Who is your finance partner?
- We offer financing options through Toyota Industries Commercial Finance.
Can I cancel the forklift lease?
- Yes, but it can be expensive. Make sure to choose the right material handling equipment and lease term for your individual needs.
Buying, renting, or leasing an expensive piece of material handling equipment is a big purchase. An experienced material handling professional can make sure you get the most value and return on your investment. Contact us for a free consultation today!Tags: Benefits of leasing Toyota forklift, buying a new forklift, warehouse solutions