The Benefits of Leasing a Forklift vs. Buying or Renting

Do you need one or more forklifts in your workplace, and you are trying to decide if it makes sense to buy the equipment? Before you jump into such a big purchase, talk to our team about your options for forklift leasing or renting. There are options to get access to the equipment that you need, without being tied into long-term ownership.

Each situation is unique, which is why it’s essential to consider your preferences and needs before making any big decisions about whether you will lease, buy, or rent your equipment. Our team at ACE Equipment is here to help every step of the way, ensuring that you find the ideal equipment agreement and the type of forklifts that are needed for your workload.

The reality is that forklift leasing is often a great option as an in-between solution if short-term rentals aren’t a good fit and you don’t want to commit to buying the equipment. You can benefit from the flexibility and lower risk, while still having access to everything you need to maintain the highest levels of productivity. If you need updated equipment and you are trying to avoid the high upfront costs, then talk to us about the advantages of leasing a forklift.

Top Advantages of Leasing a Forklift

The more you learn about forklift leasing vs. buying or renting, the easier it is to see why many companies choose leasing. Here are some of the benefits that you can expect if you choose this option:

• Upfront Costs: Your initial out-of-pocket costs are much lower compared to the upfront expenses required for buying a forklift.
• Flexible Terms: The forklift leasing terms are flexible, based on your unique needs. Whether you need the equipment for a short-term project or you are looking for an ongoing solution, we can help.
• Modern Technology: Leasing always gives you access to modern equipment that can boost your team’s efficiency. When the lease term is up, you can trade in your current forklift for a newer model if desired.
• Maintenance Included: In most situations, you can expect to have maintenance included in forklift lease agreements. So, you don’t have to worry about the equipment being out of service, because our team will keep up with the maintenance and repairs as needed.

Comparing Forklift Leasing vs Buying: What’s Smarter for Your Business?

Each business is unique, which is why there isn’t a one-size-fits-all solution for forklift leasing vs buying. It’s essential that you consider how the equipment is going to be used, where you plan to use it, and the length of time that you are going to need the forklift. Then, our team can help you find the optimal equipment and purchase, lease, or rental terms to align with your goals and needs.

One undeniable drawback to buying the equipment is that you are tying up capital and taking a financial hit at the same time because of long-term depreciation. So, if you need to protect your cash flow, then it makes sense to choose a lease agreement instead of buying the equipment.

Another reason why you might choose a leased forklift is that you want to avoid the resale headaches in the future. If you decide to upgrade your forklift or you no longer need the equipment, then it can be a hassle to know what to do with your purchased equipment. On the other hand, you don’t have to worry about a thing at the end of the lease, because you don’t have any cash tied up in unused equipment.

If your business will be using the forklift a lot, then over time leasing can often be more cost-efficient compared to buying a forklift. Especially when you consider the fact that maintenance costs are built into the leasing agreement, so you don’t have many unexpected out-of-pocket costs during the duration of the lease.

Is Leasing a Forklift Better Than Renting? It Depends on Your Timeline

There are times when it might make sense to choose a forklift rental instead of a long-term lease. For example, if you have a short-term project or one-off needs for a specific timeline, then a rental agreement can be a great option.

Leasing is a better solution if you are expecting long-term usage. Also, leasing gives you more predictable costs, and the prices tend to be lower on a daily, weekly, or monthly basis compared to the shorter-term rentals.

Another benefit of choosing forklift leasing instead of renting is that you have more model and feature choices compared to most rental fleets.

How Forklift Leasing Works: Terms, Options, and What to Expect

If you are considering the advantages of leasing a forklift, then reach out to our team at ACE Equipment to learn more about this process. We make it as simple as possible to get access to the equipment that you need.

Most leases are designed to last between 12 – 60 months, and these terms can be customized based on your anticipated timeline. Rest assured knowing that you can always start a new lease if needed at the end of your current term.

Most lease plans include everything that you need for reliable, high-performing equipment. For example, our team will provide all necessary servicing, inspections, and even basic insurance.

When you need to end the lease, there are options to consider, such as a lease renewal, buyout, or even equipment upgrades to match your current needs.

FAQs

What are the main benefits of leasing a forklift instead of buying?

While there are benefits to both, the reasons it often makes sense to lease instead of buy are to decrease your upfront costs and manage your cash flow.

Does forklift leasing include maintenance and repairs?

Most of the time forklift leasing will include all the necessary maintenance and services that you need. These services are built into your lease agreement so that you can avoid additional out-of-pocket expenses.

Call the Forklift Experts

If you need forklift leasing, sales, or rentals, then our team at ACE Equipment is here to help. We offer customized solutions, ensuring that you have access to the equipment that you need. Contact us to learn more about your options.