What Are The Different Types Of Forklifts You Can Lease?

Different types of forklifts have been high in demand more so in industrial organizations that need them to transport heavy and basic materials.

different types of forkliftsForklifts are typically known to lift loads that weigh thousands of pounds. The blade distance can be adjusted according to the size of the load. Some forklifts run on gas while others run on electricity.

Different Types Of Forklifts

Forklifts mostly differ in their structure. Below are some of the different types of forklifts available in the market today.

Standard Trucks

These are mostly used in warehouses and they are large and sturdy. They can lift loads of up to 20ft high that weigh between 3, 000 to 4, 000lbs.

Reach Truck

These types of forklifts run on electricity and can lift loads up to 40ft high. They are narrow isle forklifts designed for pallet storage. Reach trucks are not suitable for lifting and unloading weights over a long distance.

Order Selector

These are also narrow isle trucks but they move loads smaller than the pallet size. They too can lift loads and the operator up to a height of 40ft.

Motorized Pallet Trucks

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These trucks are also known as walkie riders, riders or walkies. They get their name from the fact that you don’t have to be inside it to operate it. In fact, many operators just walk alongside it as it moves the load.

Swing Must Trucks

These types of forklifts have a very narrow isle and have a similar appearance to standard trucks. Their masts can swing in one direction at only 90degrees.

Turret Trucks

These forklifts also have a narrow isle but unlike the swing mast trucks, they can swing either way at 90 degrees. They can also lift the operator and the load.

Forklift Leasing

You first need to find out the different types of forklifts and decide on which one will be much more suited for your business.  As you have seen, forklifts come in a variety of sizes and capabilities and it’s very easy to end up leasing the wrong type of forklift.

You first have to identify what you need your forklift to do. For instance, if you need it to lift 1,500lbs, then it wouldn’t make sense to lease a forklift that can lift 4, 000lbs. You should therefore lease a forklift that is adequately rated to handle the weight of the material you want to move.

Consider how long you will be using the forklift. To save on money, only lease the forklift for the number of days you will be using it. Remember that the longer the forklift sits idle, the more money is needlessly wasted.

Different Types Of Forklift Leases

When you approach a leasing company to lease a forklift, you will probably be offered a few different types of leases. They include:

1. Fair Market Value Lease

This is a lease that has a residual value at the end of the leasing period. This means that at the end of the lease, the value of the forklift will have depreciated; its value won’t be the same as when you bought it.

Another company or even you might purchase the forklift at the end of the lease using the current market rate. So if when you started using it the forklift was valued at $20, 000 and at the end of the lease term its value depreciates to $10, 000 you will purchase it at that price but this is always open to negotiation with your lessor.

2. A Full Service Lease

As the name suggests, this is a lease that includes service costs within the lease payments. This will ensure that your lease is cared for and serviced to ensure that it runs smoothly throughout the lease term.

3. Rent To Own Lease

This is a lease agreement where your lease payments are counted as a down payment for the forklift. This way, at the end of the lease period, you can purchase the forklift at $1 or at 10% of the current market value of the forklift. This all depends on the type of agreement you will have with your lessor.

Summary

You can lease any type of forklift in the market and save on costs. Leasing is a much better alternative to purchasing a forklift especially if you only need it for a short period of time.

For more information on leasing different types of forklifts, simply CLICK HERE.

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