Independent Forklift Leasing Limited (IFLL) was set up in 2014 to provide an alternative leasing option for substantial privately owned companies and corporates. Over the 4 years that it has been operating it has amassed over 150 units secured by long term leases. The demand for our product is growing as we have a genuine point of difference to historical forklift leasing providers.
Both TIFCL & IFLL are 100% owned by The Independent Investment Company Ltd and one of the biggest advantage for our clients is that you are dealing direct with the owners of the business so there is no long winded process to work through – we pride ourselves on working quickly to help clients work through their needs and achieve their goals.
Independent Forklift Leasing Ltd (IFLL) name says it all and is the point of difference for us: it is a lease company that specialises in forklifts and other MHE or supporting products. Being independent means that we are able to provide unbiased advice and solutions to our clients. Brands that we have in our lease portfolio include:
- John Deere
As well as the brands themselves, there is a wide variety of models, shapes, sizes, fuel types and special characteristics.
There have been many names used to describing asset leasing; hire purchase, lease to buy, operating lease, finance lease to name a few. IFLL provide operating lease solutions where it retains ownership of the asset – all other terminology refers to the ownership transferring to the client/end user.
As mentioned previously, the decision to lease or purchase for POL really comes down to a simple analogy: the loss of other alternatives when one alternative is chosen – for example; $X spent of purchasing the fleet of forklifts could have been used to buy land & buildings – the monetary cost is $X, but the opportunity cost is the land/buildings.
There are many arguments why companies should buy or lease, but in the end these reasons are specific to your business and where it wants to invest.
Some of the key points of IFLL leases are:
- Independent. No particular brand is pushed – only the right one to carry out the job.
- The residual (disposal) risk remains with IFLL
- Fixed monthly payments meaning no increases or fluctuations due from unforeseen maintenance bills. Your only costs would be due to operator error or misuse.
- Fluctuations in interest rates don’t impact on your business
- No effect on POL balance sheet allowing your credit lines to be used in other areas of POL
- Depreciation is not claimed
- The full monthly rental (net of GST) is treated as an expense
- GST is claimed on the monthly instalments
Leasing through IFLL provides a lot more than just finance payments. As both IFLL and TIFCL deal with a wide range of clients and machines, we have ability to plan and react quicker on your behalf. If your operation changes, IFLL will work with you on your leased forklifts to ensure you have the right forklift working. This could be a contract change in volume or freight requirements necessitating a change in forklifts. Rather than having to sell your existing unit and purchase a replacement, IFLL would look to swap one in /one out to make the change with no major disruptions or costs.
We pride ourselves on working closely with our clients to ensure the right machines are in service and flexibility can have a huge positive effect on your business.