Leasing a Forklift? Tips & Advice on Forklift Leasing & Financing—July 2011
July 8, 2011 at 1:03 PM
Is your company preparing to sign a lease for a forklift? Here's some tips from Ring Power Lift Trucks when leasing or financing a new or used forklift.
Know your leasing company. Only deal with reputable finance companies that you are familiar with. Many brokers call themselves ‘leasing companies’, when in fact they are not the funding source. They act as ‘middle men’ and place the lease paper with various financial institutions. It is always better to deal directly with a leasing company that is a direct source of funds. Not only are you going to get a better lease payment, but it will be easier to determine if this is a finance company you are comfortable working with.
UCC ‘blanket’ liens. Some forklift finance companies will file a blanket lien covering all assets on a business. Lessees should review the documents to ensure that the UCC filing is only on the specific forklift and material handling equipment that they are leasing or financing.
Attention to Details. Make sure the ‘Return Provisions’ are in line with your application, your environment, and/or your usage. You may otherwise be charged for excessive hours or repairs given the actual run time and environment that the forklift was exposed.
Understanding Fees. Understand what fees may be charged by a leasing company. Some companies charge as much as $500 to write and book a forklift lease transaction.
Read Your Lease Contract. Know what the terms and conditions of the lease are. Eliminate surprises at maturity of the forklift lease.
Follow this simple guidelines and you should find yourself much more confident when negotiating your next forklift leasing deal. Call or email any of Florida's Ring Power Lift Trucks locations for additional assistance or questions.
Ring Power Lift Trucks leases and finances a wide variety forklifts, from pneumatic tire IC forklifts to efficient electric cushion and pneumatic tire forklifts, from container hanlders by Kalmar and Linde to narrow aisle warehouse forklifts by Jungheinrich, Mitsubishi Forklifts and Cat Lift Trucks. Even very narrow aisle trucks by Bendi and Drexel.
Quality Forklifts. Even Better People.