Acquiring a forklift or a fleet of forklifts can have a major positive ROI for companies that carefully do their homework and get the best possible equipment for their operation. But choosing the right forklift is only one part of maximizing ROI for your capital equipment. You also need to consider what method of procurement to pursue: Should you rent, lease, or buy?
The answer to that questions will be dictated by your unique needs and operation. But for many companies, leasing provides too many advantages to ignore. What are those advantages? And what can you expect during the lifetime of your lease? Toyota can help answer these questions and more.
There are several reasons why companies choose to lease. Here’s a rundown of some of the top reasons:
Developing clear expectations for your lease engagement can be complicated, especially if you’re engaged in your first lease or if you’re changing leasing companies. But by keeping track of the answers to a few FAQs can keep you on track throughout the process.
1. What kind of support will I get when I lease a forklift?
First, a dealer representative will assess your facility 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 be created that also matches the needs of your business. Once your forklift arrives, you will sign the finance contracts and begin using your Toyota forklift. Both your forklift dealer and your lender are available to answer any questions you have, or follow up on any issues that may come up.
2. Is maintenance included in a forklift lease?
Maintenance is not always included. We recommend adding a planned maintenance (PM) plan to your lease. Including maintenance in your lease limits any additional charges at lease end. Some lenders, such as Toyota Commercial Finance, can sometimes raise the residual value if maintenance is included.
3. How much money do I need up front?
There is generally little or no money due at signing.
4. Can I buy the forklift after the lease ends?
This depends 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 this option is something you work out with your lender before you sign.
The advantages of the leasing a forklift might be clear to you. But the fact remains that there are a great deal of lease options to consider and to sift through. Toyota Industries Commercial Finance lease options are far reaching, and your lender can take the time to walk you through each options to know which is exactly right for your operation. But there are a few things to keep in mind that can help guide you through the leasing process:
If you need more information on Toyota’s flexible lease programs, you can download our ebook on the contact your locally authorized Toyota dealer for more information.