Short projects don’t require company directors or project managers to buy machines. It’s more flexible to organise a forklift lease. Hiring out pallet jacks, container handlers and a couple of 4WD forklifts will pay off in the long term.
Before you go to the vendor, make sure you understand the project and what you really need the forklift for. Depending on your needs, you might even get more than one. Do you just need to shift more stock around the warehouse floor? Or are you heading up a housing project and need forklifts that can handle rough terrain? You’ll discuss this with the vendor as well before signing the forklift lease.
Every forklift lease has conditions attached to it especially surrounding the financials. For a lease worth up to $150,000 for example, the person making the application needs to hold an ABN (for GST) or be the director/owner. If you’re not the owner, you need to have held an ABN for at least three years. The machines themselves are new or up to four years old.
Conditions for older machines are as follows:
New to 8 years old (at the end of term)
- Up to $100k – ABN Registered for 5 years & GST registered 3 years
- Up to $75k – ABN Registered for 2 years & GST registered 1 years
- Up to $35k – ABN Registered for 2 years & GST registered. If not asset backed then 10% deposit required
Getting a forklift lease approved also depends on your credit check and financial history, though most lenders have no trouble.
What can you get under these conditions? Anything, really. Trucks, trailers, articulated forklifts and dump trucks, engineering equipment and more.
Company directors and business owners hire out forklifts because it’s cheaper long term and they get a better return on investment. The money saved on organising a forklift lease can be spent on other aspects of the business (or even a staff party). Meeting the terms and conditions is easy, too, and you’re guaranteed to find what you need with the vendor’s help.