Learn Everything There is to Know About Leasing a Forklift

Leasing a forklift can be a smart alternative to purchasing new or used material handling equipment; learn more with our FAQ. Leasing offers several advantages, such as the option to purchase the equipment at the end of the lease or trade it in for a newer model. Below, we’ve answered some frequently asked questions to help you better understand the benefits of leasing a forklift.

What are the Benefits of Leasing a Forklift? Explore Custom Financing Options

Upgrade to the Latest Model Regularly
If your operators prefer the latest features and technologies, leasing lets you upgrade to a new forklift model at the end of each lease term.

This way, your team can always work with up-to-date equipment, enhancing productivity and satisfaction.

Flexibility to Change Equipment
Over time, your needs might change.

Whether you need a different forklift model, an order picker, or another type of material handling equipment, leasing allows you to easily switch to the right tool for the job once your current lease ends.

Lower Monthly Payments
Leasing typically offers lower monthly payments compared to purchasing equipment through a loan.

Running a cost comparison will help you determine the most cost-effective option for your business.

Learn More About the Benefits of Forklift Leases

What is the Average Cost of Leasing Forklifts? What are some Price Options?

Forklift leasing offers flexible financial solutions for businesses that need material handling equipment without the large upfront investment of purchasing. The cost of leasing a forklift can vary depending on factors like the type, size, and capacity of the forklift, lease term, and any additional services or maintenance included. Generally, leasing costs range from $300 to $750 per month for standard models, while larger or more specialized equipment, such as electric or high-capacity forklifts, can go up to $1,500 monthly. Lease terms typically run from 3 to 7 years, with the option to renew or upgrade at the end of the term.

There are two common types of forklift leases: operating leases and finance leases. Operating leases are ideal for businesses looking for short-term, flexible options where the equipment is returned at the end of the lease period, keeping monthly payments lower. Finance leases, on the other hand, are more like a loan, where businesses pay toward ownership, eventually owning the forklift at the end of the lease period. Maintenance packages can be added to either type of lease, which can help reduce unexpected repair costs, making leasing an appealing option for businesses with budget constraints or fluctuating operational needs.

Can I Purchase the Forklift After the Lease?

Yes, some lease agreements give you the option to purchase the forklift at the end of the term. The purchase price will depend on the type of lease agreement you choose, such as a dollar buyout, capital lease, or fair market value lease. If you’re considering this option, make sure to discuss it with your lender before signing the agreement to ensure it aligns with your long-term goals.

Leasing offers an attractive combination of flexibility, cost savings, and convenience for material handling operations. Whether you want to avoid the hassle of equipment ownership or prefer the ability to upgrade as your business grows, leasing could be the perfect solution. Reach out today to learn more or to take advantage of our limited-time offer!

How Do I Choose the Right Material Handling Equipment?

We’re here to help! Our experts conduct on-site evaluations to assess your facility’s specific needs and recommend the best equipment to optimize your operations.

Before deciding to lease or buy, it’s always a good idea to consult with the experts at Total Warehouse for a free consultation and assessment.

What Happens After My Forklift is Delivered?

As your dedicated material handling partner, we’re always available to assist with any questions regarding your forklift or other equipment needs. Our support doesn’t end after delivery.

Can I Include a Maintenance Plan with My Lease?

Absolutely. We strongly recommend adding a Planned Maintenance (PM) program to ensure your equipment stays in top condition.

Your material handling expert can guide you through the available options.

What is the Duration of a Typical Forklift Lease?

Most forklift leases cover about 40 hours of weekly usage, which translates to roughly 2,000 hours per year.

What Happens if I Exceed the Utilization Hours?

Exceeding the allotted usage hours may result in additional charges, which can range from $0.45 to over $5.00 per hour.

It’s important to monitor your usage to avoid extra costs.

Can I Request More Utilization Hours in My Lease?

Yes, if you anticipate using the forklift for more than 40 hours per week, you can negotiate a higher usage limit in your lease agreement.

Should I Opt for a Short or Long-Term Lease?

If you have low forklift usage and want to minimize your monthly payments, a longer lease term of 5-6 years might be ideal.

For higher utilization rates, a shorter lease could be more cost-effective in the long run.

What’s the Initial Cost of Leasing?

Typically, there’s little to no money required upfront when leasing a forklift.

Can I Purchase the Forklift at the End of the Lease?

This depends on your lease agreement.

If you’re interested in buying the equipment once the lease ends, be sure to discuss this option before signing the contract.

Who Provides Your Financing Options?

We offer cost-effective financing options, giving you flexible solutions for your leasing needs.

Is it Possible to Cancel a Forklift Lease?

While you can cancel a lease, it can be costly. It’s essential to select the right equipment and lease duration that aligns with your operational needs to avoid potential penalties.

Leasing, buying, or renting material handling equipment is a significant investment, and working with an experienced professional ensures you get the most value and return.

Contact us for a free consultation today!

Total Warehouse are proud dealers for Linde, Big Joe, UniCarriers, and Landoll. We’ve helped countless businesses across the United States achieve lower maintenance, reduced costs, increased worker satisfaction, and increased economic sustainability by making the switch. Our team of highly knowledgeable experts can help you make the right decision for your business. Give us a call at 833-868-2500 or contact us online.

About the author:

Julie K has been a key figure in the warehouse industry for over five years, combining with content editorial skills & analytical expertise. She has provided valuable guidance to industry leaders, while her editorial abilities have made complex information accessible to a wider audience. Outside of work, Julie stays at the forefront of warehouse technology, continually expanding her understanding of this dynamic industry.