Hyster Introduces New Hourly Lease Program

Hyster Company, Greenville, N.C., is giving lift truck users custom lease solutions with flexible end-of-term options and the ability to pay only for the hours used through its Power Advantage. The new leasing program bills for the actual hours of use during a given month, allowing customers to enjoy a “pay-per-hour”-based finance solution.

“Power Advantage is a pioneering effort in the lift truck industry, allowing our customers to choose the lifetime based on total hours and time needed for the use of the truck,” said Tina Goodwin, director of financial services for Hyster. “The customer can match expenses to operational cycles and control their costs. At the end of the lease term, the truck can be returned for a new truck or the lease extended. It’s that simple. No hassle. No surprises. No overtime billing. No paying for hours not used.”

Power Advantage is ideal for seasonal or mixed-use operations looking to pay for actual usage only, locking in a per-hour rate at the lease outset and avoiding overtime charges. These operations would typically use a lift truck between 1,200 and 3,000 hours per year.

With the flexible end-of-term options, if a truck hits the contract term first, the customer can return the truck or continue using the truck at the original hour lease rate until the total hour usage is met. If the truck hits the total hour usage first, the customer can return the truck or can extend to the full contract term at 50 percent of the original hour lease rate.