More detailed answers from our local experts -

The choice to buy or lease a forklift in 2025 depends on your budget, usage frequency, and business growth plans. Buying is ideal if you need the forklift daily and want long-term ROI. Ownership gives you asset value, tax depreciation, and no mileage caps. However, it comes with full maintenance responsibilities and upfront capital. Leasing, by contrast, reduces initial costs and is flexible—making it a smart option if you’re unsure of long-term needs or have seasonal fluctuations. Leases often include maintenance and allow for regular equipment upgrades. But you won’t build equity in the equipment. Some leases offer buyout options at the end of term. Tax incentives differ too—purchases may qualify for Section 179 deductions, while lease payments are typically 100% deductible as business expenses. For most companies, leasing simplifies budgeting and avoids obsolescence. But if you use forklifts heavily year-round, buying still offers better value over time.