Finance your forklift
Forklift Trader uses smarter equipment financing powered by APPROVE to provide industry-leading forklift equipment for a low monthly payment customized to fit your budget. It’s never been easier to afford the equipment you need to grow your business. Apply in just 60 seconds and quickly get multiple offers from up to 3 competing lenders.
What is Forklift Financing?
Forklift financing is a tailored financial solution allowing businesses to acquire forklifts without immediate full payment. Forklift financing involves borrowing funds to purchase a forklift, then repaying in set installments over time. Businesses can either lease the forklift for a specific period or take out a loan to buy it, paying back the principal plus interest. This approach offers companies the advantage of enhanced operational efficiency without a large upfront cost, ensuring steady cash flow and flexible resource allocation.
Benefits of Financing a Forklift
In addition to helping you quickly acquire the equipment you need, financing a forklift has the following advantages:
- Low Upfront Cash Requirements
- Fixed Monthly Payments For Easy Budgeting
- Immediate Equipment Acquisition With Future Funds
- Increased Working Capital
- Preserve Credit Lines For Other Uses
- Utilize Section 179 Tax Benefits
What is the Section 179 Tax Deduction?
Section 179 is a tax deduction rule outlined by the IRS that allows eligible businesses to write off business expenses, like the purchase of a forklift, when filing their taxes each year - lowering the business’s taxable income.
Frequently Asked Questions
How much does a new forklift cost?
New forklifts can range from $15,000 to $50,000 or more, depending on the capacity, fuel type, and tires.
How long do forklifts last?
There are a variety of factors that impact forklift lifespan, but the average rule of thumb is a forklift will last for 10,000 hours of use. Some machines, such as Toyotas, are known to be workhorses that last more than 20,000 hours.
Why are forklifts so expensive?
The higher a forklift's capacity is, the more it will cost. When pricing used forklifts, the hours of operation and overall age are important factors to consider.
Can you write off a forklift?
Yes. The IRS allows businesses to write off tangible property used in the course of business activities, including forklifts.