Ownership

Financing

Advantages of Purchasing Equipment

There are several benefits when purchasing a new forklift or equipment. Some key advantages include:

You will own the forklift or equipment
There are tax incentives to owning over leasing
You can depreciate the equipment
In many cases, has the lowest cost of ownership
You can choose when to upgrade your equipment

Woman walking through warehouse and holding a tablet.

Own

Finance To Own

If your goal is to own equipment, ProLift can help with ownership through a lease program. Opting for incremental lease payments instead of paying the full amount upfront can offer valuable financial advantages.

Speak with a ProLift sales consultant to learn if this is a solution for your equipment investment.

Forklift operator looking up to place product on pallet racking with a Toyota forklift.

FAQ

Ownership FAQ

Discover if owning equipment and products is the right move for you. ProLift provides answers to common questions about the process.

Will My Monthly Payment Be Higher For Ownership Compared To Leasing?

Yes, monthly payments are generally higher when financing to own compared to leasing. When you finance, you're paying toward full ownership of the equipment, including its long-term value. Leasing is only paying for the use of the equipment over a specific period.

How Does Depreciation Affect The Value Of Owned Equipment?

Depreciation reduces the value of owned equipment over time as it ages and experiences wear and tear. For material handling equipment like forklifts, the value decreases each year, impacting the equipment's resale or trade-in value. However, depreciation can offer tax benefits, as you can often deduct a portion of the equipment’s cost annually.

Are There Penalties For Paying Off Financed Equipment Early?

In some cases, there may be penalties for paying off financed equipment early, depending on the terms of your financing agreement. These penalties, known as prepayment penalties, are designed to compensate the lender for lost interest income. However, not all financing agreements include these fees. It's important to review your contract carefully.

How Can I Protect My Investment?

Protecting your forklift investment, especially when choosing to own, should be a top priority. Two effective ways to ensure this are by budgeting for a maintenance agreement program and actively promoting safety training and awareness among your associates.

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.