Posts tagged ‘Benefits of leasing Toyota forklift’

FAQs About Leasing a Forklift

August 19th, 2022  | 
Financial ServicesResource Center/BLOG

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? 

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! 

The Benefits of Leasing a Toyota Forklift 

September 17th, 2018  | 
Financial ServicesResource Center/BLOG

Adding a Toyota forklift or a fleet of forklifts to your operation can have a major return on investment (ROI) for companies that carefully do their homework and get the best possible equipment. But choosing the right forklift is only one step in maximizing the ROI for your company’s equipment. You also need to consider how you’ll acquire the equipment – should you rent, lease, or buy? The answer to that question is dictated by your unique needs and operation. But for many companies, leasing provides too many advantages to ignore.

Advantages of Leasing a Forklift

Here’s a rundown of some of the top reasons companies choose to lease:

  • You can turn your forklift in at the end of the lease rather than hanging on to a piece of aging equipment. Selling a 5-year-old forklift can be challenging, and we know you have more important things to worry about while running your business.
  • You get to keep your cash. Forklift lease payments are often lower than loan payments with less initial investment – often zero due at signing.
  • You get to keep your options open. In a few years, you might need a different lift capacity, or your warehouse dimensions might change. By leasing a forklift, all you have to do is turn yours in and pick a new one.
  • You get the latest, state-of-the-art forklift model.
  • You can simplify your fleet management by eliminating the need for acquisition, disposition, and tracking.
  • Keep your bank lines open by working capital lines of credit that are critical to growing your company. Choosing to lease a forklift or commercial equipment allows you to use these valuable bank lines to further invest in your business.

By offering irregular payment schedules, we can allow your business to match revenue and lease payment cycles.

What to Expect Before and After Leasing a Forklift

By keeping track of these frequently asked questions, you can develop clear expectations of your leasing engagement.

What kind of support will I get when I lease a forklift? First, a specialist will assess your operation and working environment to help you choose the right equipment for the job. After selecting the equipment that best fits your needs, a financing package will also be created to match those needs. Once your forklift arrives, we are available to answer any questions you may have, or handle any issues that may come up.

Is maintenance included in a forklift lease? Maintenance is not always included, but we recommend adding a planned maintenance (PM) plan to lease. Including maintenance in your lease will limit any additional charges at lease end.

How much do I pay up front? There is generally little or no money due at signing.

Can I buy the forklift after the lease ends? That would depend on the type of lease you’ve agreed to. There are lease options that allow you to purchase the forklift at a fair market value after your lease ends. Make sure you choose this option before you sign.

Choosing the Right Lease Option

The advantages of leasing a forklift might be clear, but there are still plenty of lease options to consider. Toyota Industries Commercial Finance lease options are far-reaching, and we’re here to help walk you through them to determine which one is perfect for your operation. Here are a few things to keep in mind that can help guide you through your leasing process:

  • Various lease structures are available. Your monthly payment will be partially dependent on the lease structure you choose.
  • Your lease structure will be dependent on the number of hours you want to operate your forklift. Over-utilization can be costly, so make sure you choose the right structure for your application.
  • Canceling your lease can also be costly, so be sure to choose the right equipment and term to fit your needs.

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