- 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owners to try it out, potentially giving you an edge over your competitors who may still be using less efficient and outdated equipment.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.
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.