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Leasing

Financing
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Benefits

Forklift Leasing & Financing

Leasing forklift equipment offers several key benefits, including:

  • Lower upfront costs: Leasing avoids the large initial investment required for purchasing equipment, helping to preserve cash flow.
  • Flexible terms: Leases can be customized based on operational needs, allowing for easy upgrades as technology improves.
  • Tax advantages: Leasing payments may be tax-deductible as an operating expense, reducing your tax burden.
  • Easier budget management: Fixed monthly payments make financial planning easier and more predictable.
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Selection

Forklift Leasing Questions To Ask

Finding the right forklift is essential for productivity, operator morale, and safety. Before leasing or purchasing a forklift, work with a sales consultant to consider these key questions:

  • What tasks and applications will the forklift handle daily?
  • How frequently and for how long will the forklift be operated?
  • Does the work environment impact the forklift's durability?
  • Is owning the forklift important, or is minimizing monthly payments the priority?
  • What does my business look like in 3 years, and how much flexibility will I need?
  • What is the cost of downtime for my business?

Flexible Leasing Options

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FAQ

Leasing FAQ

To help you navigate the process, we’ve compiled answers to some of the most frequently asked questions about forklift leasing.

How Long Should I Extend My Lease?

Traditionally, your equipment lease may have spanned five years, but opting for a shorter lease term could bring added benefits to both your production and budget. We encourage you to consider forklift lease utilization, monthly payment, fuel type, uptime requirements, and technology advancements. 

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Can A Forklift Lease Be Ended Early?

Yes, ending a forklift lease early is possible, but your company may incur charges. It's always a good idea to discuss options with your forklift dealer to understand any your options.

Is Leasing The Best Option If My Company Runs Multiple Shifts?

Yes, leasing a forklift can be an excellent option for businesses running multiple shifts. By identifying when the cost of downtime and maintenance outweighs the forklift’s usefulness, you can return the leased forklift with a new one to decrease extra costs and ensure your production needs are met efficiently. Leasing also provides flexibility to upgrade to newer models as your needs evolve, which is especially beneficial in high-demand environments like multi-shift operations.

What Is a Forklift Off-Lease Evaluation?

When entering a forklift lease, a business agrees to meet the return conditions set by the financing company. The evaluation aims to give the business a comprehensive overview of forklift conditions and purchase options. Ideally, it should occur about six months before the lease expires.

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Can I Secure A Lease That Offers Additional Hours?

If your standard forklift lease doesn’t provide enough operating hours, you can explore adding extra hours to your lease agreement. Exceeding the allotted hours in your lease may result in overtime charges, which can cost up to $4 per additional hour.

Can I Lease Used Equipment?

Yes, used equipment can be leased. The financing company may impose restrictions on the lease term and residual value when leasing used equipment, often based on the forklift’s hours, age, or application.

New Equipment Guarantee

In the event you are unhappy with the equipment you purchased from ProLift after one year’s use, we will simply buy it back for the original purchase price less two thirds of our normal rental rate.

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Finance To Own

The $1 Option, also referred to as a Full Payout Lease is ideal if the goal is to own the forklift at the end of the term. This type of lease is properly utilized in low hour applications where the actual useful life of the equipment is 6 years or longer. Additionally, your company wants the forklift to be considered a capital asset rather than a true line item expense.

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