Forklifts are used in all types of businesses and industries. Most companies that use forklifts lease them, but if your business needs one, how do you know whether you should buy or lease? AJ Jersey, Inc, the top forklift dealer in South Plainfield, NJ, has put together some information to help you decide which option is right for you.
When It’s Best to Buy
It’s a good idea to buy a forklift if you’re going to use it less than 1000 hours a year and if your maintenance and repair costs are very low. Forklifts are a large expense upfront, so you need to consider your capital situation if you decide to buy. Your business debt ratios won’t be affected if you buy a forklift outright, which is important if your company is trying to obtain loans.
When You Should Lease
One of the biggest advantages is that there’s no upfront out-of-pocket expense. You may find with this option that there are tax advantages, too, like using a lease as a business expense. Leases are helpful when forklifts are used frequently because maintenance plans can be added to them, which brings down monthly costs you’d have with ownership. Another benefit is that you can decide at the end of the lease whether to buy the equipment or return it to the forklift dealer, so you always have the latest model if you choose.
If you have more questions, contact AJ Jersey, Inc. Since 1970, this forklift dealer has been selling, leasing, and servicing all types of forklifts, and they offer both short- and long-term leases. They also design warehouse layouts and rent pallet trucks and other industrial equipment. Give them a call at (908) 754-7333, or visit their website to see how they will help your business.