Fork Lifts V3 1900X930 @300

Hire and Leasing

Truck Hire

If you hire a truck, then you probably know that you’ll be enjoying greater flexibility from the outset. If you need equipment for a seasonal business peak or, say, you need to move a fair amount of freight while working with a specific client, then a vehicle hire makes sense – you won’t have to pay a heavy upfront cost and you can fully utilise the rental payments.

However, be prepared to pay the insurance and maintenance costs that come with a rental agreement. Then again, this is the perfect chance to test out the latest technology and models from top brands. Consider the following -

Lease Rental or Hire Purchase, Which is Best for my Business

Lease Rental

  • Lower up-front costs – Use the latest and greatest technology-driven equipment without paying the full upfront costs. You’ll be paying for what you use only, so you’ll always know what your usage expenses will be.
  • Test-drive the latest technology – Whatever innovating technology leading manufacturers such as Clark or Polaris are working on, you’ll be among the first business owners to try it out, potentially giving you an edge over your competitors who may still be using less efficient and outdated equipment.
  • Productivity boost – Regular replacement throughout the forklift hire agreement means greater productivity and reduced downtime because a highly motivated and efficient workforce is only as good as the equipment they use.

Hire Purchase

  • Budget-Friendly: Hire purchase agreements typically require a lower initial capital outlay compared to outright purchasing a forklift. This can be particularly helpful for small businesses with limited upfront funds.

  • Preservation of Working Capital: By spreading the cost of the forklift over the term of the hire purchase agreement, a business can preserve its working capital for other essential operations and investments.

  • Fixed Payments: Hire purchase agreements come with fixed, regular payments, making it easier to budget and plan for the expenses. This predictability can be valuable for financial planning.

  • Ownership at the End: One of the primary benefits is that once the hire purchase agreement is completed, the business becomes the full owner of the forklift. This allows for long-term asset accumulation without the need for a substantial upfront investment.

Test 1

Truck Leasing

With our large range of all-purpose vehicle solutions, we can provide a one-stop-shop for all your hire requirements whether you operate 1 electric pallet truck or a mixed fleet of hundreds of trucks and vehicles.

Forklift trucks and vehicles can be very expensive pieces of equipment, with some businesses not in a position to outright pay full price for the entire fleet or even consider lease-purchasing them. Luckily, there are other options such as lease renting vehicles.

Leasing and renting are somewhat similar, although it’s important to understand some of the differences -

  • When it comes to rental, the agreement term is noticeably shorter – a few weeks or months, typically. It makes sense to go with rental if you’re expecting to go through projected seasonal business highs, during which you may need to move more freight than usual. However, at times, it might make more sense to rent a different kind or class of vehicle or truck, as it may potentially lead to an increase in productivity.
  • Rentals are generally a more expensive option because maintenance costs must be accounted for. The rental fee each month also includes any equipment idle time between various rental assignments.

In comparison, the cost of leasing is less than renting, although there are several variables at play, including the equipment’s cost. On average, you might expect to pay somewhere around £490 each month for a forklift lease, where the value of the equipment in question is, say, just over £20,600. An additional fee will need to be outlaid for maintenance. The monthly leasing payments might vary depending on your current business circumstances.

Benefits of Lease-renting trucks and vehicles

  • Tax benefits – leasing business equipment is a tax-deductible operational expense, although you may need to double check the applicable tax rules.
  • Fixed maintenance costs – You can benefit from the high performance of an expensive, top-of-the-line forklift trucks and lifting equipment without paying the full price. Since leasing agreements typically runs for 3-5 years, the monthly maintenance cost and lease payments closely match day-to-day usage, which may be more cost-effective than paying a full upfront price for newly purchased machines.
  • Higher productivity – The frequent equipment replacement schedule helps you keep down the ‘average age’ of your fleet, which means higher peak efficiency and reduced downtime.
  • Test out the latest models – You can test out the latest range of trucks and vehicles from top brands without paying full price. Once the term of your lease has expired, you can decide whether you want to buy and add the equipment permanently to your business assets or return it.
  • Experience the latest technology – Lease renting forklift trucks means more frequent equipment replacement, allowing you to try out the latest models which boast better technology and additional safety benefits. This might help you decide if the new technology is something your business operations can benefit from, should you decide to purchase it.
Test 2

In Summary, rental can be a very cost-effective solution for many customers for varying reasons and has the following advantages over owning your own vehicles -

  • Nationwide coverage
  • Next day delivery available
  • Hire from as little as £42+ VAT per week
  • Wide range to choose from
  • No capital outlay
  • Fixed budgeting
  • Breakdowns, repairs and maintenance are included in your monthly payment
  • Options to change the equipment should your operation change or you find another vehicle is more suitable for the task
  • Ability to cover seasonal peaks

At Forktruck Solutions, we offer a range of lease rental and contract hire for all your lifting equipment and industrial vehicle requirements to suit your business circumstances.

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Every business is different so Goupil adapts to every application in offering tailored solutions.