Various financing methods may apply to the purchase of a forklift truck:
• Cash purchase
- payment of the purchase price - ownership belongs to the buyer.
• Hire purchase
- payment terms and conditions vary - the vehicle is paid over a period of time - only
after final payment is made will ownership of the equipment change hands to the buyer.
• Lease purchase
- payment consists of regular payments consisting of interest and principal based on
expected useage of the equipment - the vehicle is rented and can be purchased at the end
of the lease term or returned without additional obligation if original contract
conditions have been met.