Forklift Financing
When it comes to heavy lifting and warehouse organisation, there’s no vehicle quite as efficient as a forklift truck. Whether you’re in need of one for a construction project, or if you’re running a factory and require a fleet to ensure that your goods are transported from A to B with minimal fuss – we are here to help.
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Published On Date 06/12/2021 by Dana Boyd
At Equipment Loans Online, we make it our priority to help businesses of all sizes to source vehicles to suit a variety of requirements – without having to destroy your bank balance in the process. Whether you find yourself in need of a single forklift truck for your expanding organisation, or if your employees could do with several to better transport goods of all shapes and sizes; you’re in the right place.
How We Can Help Your Business
When it comes to running your business, the last thing that you’ll want to do is to fork out thousands of dollars to purchase a new vehicle. There are no two ways about it – you will need a truck to ensure that your services are carried out without delay, so surely there’s a better way than having to save up for months.
That’s where we come in. We offer a comprehensive solution for individuals and business owners alike, hoping to enjoy the benefits of forklift trucks and similar vehicles – without having to spend thousands in one lump sum. A solution that enables you to purchase your forklift truck and make repayments that suit your business needs.
Get in touch with us today for a complementary consultation!
If you’re keen to learn a little more about our forklift finance services, or if you’d like to enquire about a loan, then why not get in touch with our friendly team today? We’re always on hand to offer advice or provide a consultation– so get in touch and you’ll soon be watching the heavy lifting take care of itself!
FAQ
Getting finance to purchase a forklift means that you don’t need to pay for it upfront. You can receive the purchase price funds required from a lender and pay it back over a specified period while having use of the equipment for your business.
It is a convenient way to finance a forklift without having to make a large capital outlay that could impact your cash flow or balance sheet.
The main benefit of financing the purchase of a forklift is that you can invest in your business without tying up capital or impacting your cash flow. It means you can acquire the equipment without having to provide the funds yourself and then repay them over time. This helps to avoid the risks of having such a large capital expenditure on your balance sheet.
Both large and small businesses use equipment financing as a way to make large capital expenditures while managing their cash flow and the company’s balance sheet. It allows you to acquire a forklift for your business whilst also avoiding the uncertainties that are associated with large capital expenditures.
There are four main types of loans available for forklift financing:
- Finance Lease. In this type of financing the forklift is owned by you (the lessee) and is not on your balance sheet. Payments made in full for its financing are tax-deductible. At the end of the finance term, the forklift is returned to the finance provider (the lessor) or purchased by you for an agreed price.
- Operating Lease. In this type of financing the forklift is owned by the lessor and is not on your balance sheet. Payments made in full for its financing are tax-deductible. At the end of the finance term, the forklift can be returned to the lessor or purchased by you for an agreed price.
- Commercial Hire Purchase. In this type of financing the forklift is owned by you and is categorised as on your balance sheet. In this type of financing, only the interest portion of your payments is tax-deductible but you can claim depreciation costs for the forklift. At the end of the finance term, you own the forklift (although in some cases a final, residual payment may be required).
- Chattel Mortgage. This type of financing is like a traditional secured loan where the forklift acts as security for the loan. Like the previous financing method, the forklift is owned by you, the interest component is tax-deductible and you can claim for depreciation costs. At the end of the finance term, you own the forklift outright.
The type of financing you choose for your forklift will depend on your specific business needs including the tax implications of payments and depreciation costs, whether you want it on your balance sheet, and whether you want to have ownership of the forklift at the end of the finance term (and whether you have to make an additional payment).
Applying for a loan to finance the purchase of your forklift couldn’t be easier. Simply complete the form at https://equipmentloansonline.com.au/application-for-finance and a broker will be in touch with you to discuss your forklift finance needs.
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