Things to Consider Before Signing Forklift Equipment Leasing Contracts

A forklift is a very important part of the overall fleet of a business such as a warehouse or factory. It lifts, moves, and carries heavy loads and is used in a variety of different industries. So important is it, in fact, that many businesses use multiple ones on a daily basis and need to purchase them. However, that results in a significant expense that few businesses are able to afford. Thankfully, however, forklift equipment leasing contracts are available as well. That said, it is very important to compare the different contracts that are out there, before signing up to on.

What to Look for in Forklift Equipment Leasing Contracts

If you have never leased a forklift before, then it is very important that you properly prepare yourself. There are lots of things to keep in mind before you sign on the dotted line. And since a lease contract often runs for several years, this is not something that you should rush into. Considerations include:

  1. Usage. How often will you use the forklift and wat for? Some lease contracts have limits in terms of the acceptable hours of operations or distances traveled in a certain time period. Make sure this is appropriate to your needs.
  2. Weight. You need to consider the items that the forklift will be moving and how much they weigh. Different forklifts have different weight limitations and you cannot exceed those because of health and safety. You must make sure, therefore, that the forklift you choose is fit for purpose.
  3. Height. Forklifts, as their name suggests, can lift items up in the air, which is why they are so essential in warehouses. They cannot lift to unlimited heights, however. Again, therefore, you need to make sure that you know exactly how high you will require your forklift to be able to reach. Do not be tempted to go for something that can reach higher than you need it to, however, as this may cost you more money.
  4. Lease price. You may have noticed that price is not the first thing mentioned on this list, but rather the last thing. That is for good reason. While we are almost conditioned to go for the cheapest option we can find, this is not recommended. Price is important and you do have to make sure that you can afford the lease, but it is more important that you actually get the forklift you want and that you get good value for money.

There are lots of forklift leasing companies out there so you should find it reasonably easy to find one that perfectly meets your needs. Make sure that your properly read through the lease arrangement so that you know what you are paying for and when, and what your responsibilities are, before you sign on the dotted line. If at all possible, let your accountant or lawyer review the contract first. The fact that there are so many options out there may feel a little overwhelming, but it actually means that you will be able to find the most suitable option.

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