The first and perhaps most notable deciding factor when faced with the lease vs buy question is your company’s financial wellbeing and how you intend to use the forklift truck. If your equipment handles significantly lighter loads and those that have huge and highly profitable, it is advisable to buy your own forklift trucks as opposed to leasing. The search will naturally take you to two places, your accountants office and forklift dealer.
- Some of the available leasing options include: Residual or operating lease also called fair market value which features the lowest rates. It can however prove costly in the long term as you are required to pay the equipment’s fair market value if you intend to keep it at the expiration of your lease.
- A full service lease which works like a long term rental as it allows you to make monthly payments while leaving repairs and reliability to the owner.
- A full buyout, capital or dollar value lease, which calls for high payments