FMV leases are calculated utilizing sell price, interest rate, term (number of months the lease term is for) and residual value (the anticipated fair market value for the truck based on the number of hours it is used, the ambient conditions of the application the truck will work in and the age of the truck when the lease is over). Some leasing companies also include the depreciation benefit that they receive as they are the owner of the truck. This depreciation benefit will also cause the monthly paymnet to be lower. Not all leasing companies include this benefit in their calculation. The residual value has a tremendous effect on the paymnet. The higher the residual value, the lower the monthly payment. Just like with cars, certain brands of lift trucks have a higher residual value than others. With cars, Honda, Toyota, BMW etc. have much higher residual values than say a Chevrolet, Chrysler or Hyundai. With lift trucks, Toyota does have one of the highest residual values, especially with their internal combustion trucks. The residual value is higher because more people who buy used forklifts want a Toyota and are willing to pay more for one. (again this is similar to cars as I stated above). The Toyota product has a good reputation for low cost of ownership and reliability. They are not the only one with a good reputation however they are probably the best known because of the quality of their products and name recognition. The overall cost of maintenance will also impact the rate in a lease that includes maintenance. Maintenance rates are calculated utilizing the number of hours the truck is to be used, the severity of the application as well as the term of the agreement. This information allows the provider to calculate the number of labor hours required for breakdown repairs as well as P.M.'s and the parts cost associated with those repairs. A maintenance contract usually includes all "normal" maintenance. What that means is that if the machine breaks down when being used properly and safely and in accordance with the normal operational requirements, the repair is covered. If the machine breaks down or is damaged because of improper or unsafe use the repairs will be billed to you seperately. This type of incident is usually referred to a avoidable damage or abuse. An example of this would be a truck being run into a rack and having hydraulic hoses broken as a result. You should also determine if tires are included and if so how many sets. It is not always a better deal to include tires as you may not need the number of repalcement sets built into the contract and there are generally no refunds. The other item that you need to understand if it is included or not is replacment equipment. If your truck breaks down and cannot be repaired within a reasonable period of time (usually 24 to 48 hours) do you get a free loaner or replacement truck with similar specs to use until yours is fixed.
The advice given by previous posters about reading the contract is important. You also need to ask how many hours of use are included in the contract? Make sure that number is adequate for you application. Average applications use their trucks 1500 hours a year or less. You also need to ask what the overtime rate is if you should go over the alloted number of hours. You should determine if the overtime is based on monthly use versus annual use. Demand it be for annual use or even an even better thing is to have NO overtime billed until the end of the contract IF the total number of hours for the contract is exceeded. Also ask about the return provisions. Ask for a written discription of the expected condition of the truck when the lease is over. Most reputable companies will have no problem providing this. An important part of the return provisions is whether you will have to pay the return freight. Also, where does the truck need to be returned to? The neares dealer or to some othe return point. If it is the dealer, return freight is generally low. If it is to some other point, your return freight costs could be higher depending on where that point is.
With all of that in mind, it is very poassible for one company to have a significanly lower (or higher) cost than another company. All of the above can drive a rate down (or up). SOme manufacturers also offer subsidized lease rates through their dealers. These low rates can be as low as 0% and can drive a monthly payment down. This is similar to what car manufacturers do with their low lease rates. The manufacturer is actually buying the lease rate down through a subsidy.
Having said all of that, the best thing is to deal with a reputable company that has a good name and a good reputation for providing good quality equipment, fair business practices and excellent customer service. Ask for refernces and call them
I hope that helps!