If you currently own or operate a warehouse, then you know just how important employing the right material handling equipment is in improving efficiencies in your operation. Technologies are constantly changing and making sure you are utilizing the most productive lift trucks or other equipment is essential to staying competitive in this business environment. However, the purchase price of these assets are not cheap especially if you keep pace with technology and are turning your fleet every 3 to 5 years. At Barclay Brand Ferdon, we strive to help our clients find the right lift truck financing option for their business. Here’s a closer look at what to consider and the methods of payment we make available to you.
Factors to Consider
With numerous financing options available, it can be tough to know where to start. Whether your business needs a single forklift or an entire material handling fleet, there are several factors to consider that can point you towards the right method of payment. These include:
- Budget constraints such as affordability, cash flow, and investment protection
- Tax consequences
- Your unique application goals and concerns
- The frequency of your fleet replacement cycle
- Flexibility to accommodate changing equipment needs
Buying Options For Forklifts & Other Equipment
Renting
If your warehouse experiences peak seasonal or changing materials handling equipment requirements for shorter periods of time, renting is the perfect solution. At Barclay Brand Ferdon, we have one of the largest rental inventories in the area and offer these three options:
- Short-term, which allows customers to rent on a daily, weekly, or monthly basis
- Long-term, which allows customers to rent for the duration of longer projects or contracts and can often do so with new equipment to start
- Rent-to-own, which allows customers to use equipment while making payments towards its purchase
Outright Purchase
If there’s space in your budget to purchase your own lift truck or other material handling equipment, doing so can enhance your business’s productivity for the long term. Barclay Brand Ferdon provides personalized service to ensure that you find the right equipment and solutions for your unique situation. Aside from taking advantage of our diverse and durable product line, you’ll be able to eliminate the hassle of meeting payment deadlines and paying interest.
Financing-to-Own
If your business needs to acquire material handling equipment for the long term but can’t afford to purchase it outright, financing-to-own poses a viable alternative. By taking this route, customers can secure a loan and make scheduled payments on the equipment they’re interested in – all while incorporating it into their daily operations. However, you will often have to pay interest when financing-to-own, so be sure to allocate enough room in your budget to complete payments on time and in full.
Leasing
Finally, leasing is one of the most popular options available, and we offer three- and five-year terms to meet a variety of needs. With many types of leases to choose from, including fair market value leases, operating leases, and more, this method offers unparalleled financial and temporal flexibility for businesses. By leasing, your business can continue to upgrade its material handling equipment at the end of each term, enhancing productivity with all the latest innovations.
Contact Us for a Free Quote
No matter how you choose to finance your lift truck or other material handling equipment, Barclay Brand Ferdon is here to help. Since 1996, we’ve been providing reliable machinery to businesses in Central New Jersey, Northern NJ, and beyond, enhancing their productivity levels for good. For more information on material handling equipment and lift truck financing, contact us at 908-223-8580 today.
