The time has come to order a new forklift. You’ve researched your options and know what truck you want, but what about financing?
Is it better to lease or buy a forklift? How do forklift leases work?
(SPOILER ALERT: they’re a lot different than leasing a car).
Read on to learn about your forklift financing options and see two limited-time special offers.
One of the many decisions you’ll make when investing in a new piece of equipment is whether to buy or lease. A big part of that decision is the forklift's battery and what it will eventually cost to replace it.
A forklift battery should last a single-shift operation for five to eight years. Proper care and maintenance can extend battery life up to ten years, but they don't last forever. The average cost to replace an industrial battery is about $6,000 (give or take $1,000). Contact your rep for a more precise quote.
If you’re unsure whether to lease or buy an electric lift truck outright, consider:
- How many hours will the forklift will be used each year?
- What is the operation’s current / future cash flow?
- Can the forklift be well-maintained by staff?
Continue reading to learn when to choose a flex lease instead of renting a forklift. In a hurry? Just give us a call. We're happy to help you calculate your forklift lease vs. rental options.
When you lease an electric forklift:
If you're unsure whether leasing an electric forklift is right for your business, read on for some important considerations.
Interested in financing a new forklift and unsure whether it's better to lease a forklift or buy the equipment outright? Depending on your cash flow, capital requirements, equipment condition and usage, there are benefits to both options.