Your forklift has two different kinds of lives – economic and useful. The useful life of your forklift is the maximum time for which your forklift can run and the economic life is the time for which it is economically sensible to maintain your forklift. Your forklift’s useful life ends when no kind of repair can be done for your forklift and the economic life ends when it becomes more expensive to repair the forklift than to purchase a new one.
As a forklift owner, it makes the most sense to maximize your forklift’s economic life, not the useful life. You can make sure you’re maximizing your forklift’s economic life by leasing.
A standard lease term is 3-5 years, which is also the time at which the economic life of your forklift is maximized. Leasing offers you the option of no initial cash outlay, is off balance sheet financing, and provides a planned replacement cycle, which also offers state-of-the-art equipment. Leasing and planned replacement minimizes maintenance costs and eliminates downtime.
For more information on the benefits of leasing, contact your local Toyota Forklift Dealer.