Welcome to Dillon Toyota Lift's blog. Here you will find everything from product features, industry education, operator insights, racking, warehouse design, material handling solutions, safety, trends, best practices and more!  

Search Results
Entries 1-3 of 3
Monday, October 3, 2022

When leasing a forklift, there are often two options available for you to choose from: Closed-End Lease or Open-End Lease. It’s important when doing your initial research of these various leasing programs to understand the pros and cons of both and how they will impact your finances. When choosing to lease a forklift through Toyota Industries Commercial Finance (TICF) you will find a Closed-End Lease to be your only option. The reasoning? Closed-End Leases are the most beneficial to the end customer for liability and Return on Investment (ROI). Explore the differences between both leasing options below to learn why.

Understanding Forklift Lease Options


A basic understanding of Closed-End Leases means that it is closed to the lessee at the maturity of the lease. More simply put, when in a Closed-End Lease, the lessee will make their scheduled monthly payments throughout the agreed-upon term of the lease. At the end of the lease, the lessee has no contingent liability of the lease-end residual. Additionally, the leasing company is under no obligation to sell it to the customer. However, the customer may be provided with an option to purchase the equipment. A Closed-End Lease allows the lessees to simply return the equipment and move on to their next new lease, which means they will receive the latest equipment technology. On a Closed-End Lease, a customer is required to maintain the equipment in a safe operating condition with no liability for the residuals. When leasing a forklift through TICF, lessees are offered cash management flexibility in the structuring of lease payments along with the possibility of the lease payments being tax-deductible.



Toyota Commercial Finance

Looking for a partner with finance packages for all your material handling needs? Toyota Commercial Finance has the tools available to help.



When comparing a Closed-End Lease with an Open-End Lease, an Open-End Lease typically has more flexible terms. However, a downfall is that the lessee takes on the depreciation risk of the asset. This means when a customer enters into an Open-End Lease, they will use the forklift for the entire length of the lease term, and after the lease expires, the customer is liable for the remaining residual balance of the equipment.

Since the lessee has no obligation to purchase the leased asset upon lease expiration and does not have to worry about whether the asset will depreciate more than expected throughout the course of the lease, it is often noted that Closed-End Leases are better for the average person.


Typically, a Closed-End Lease comes with a fixed rate and a term that will run for a certain amount of time (example: 60 months). The lessee might want to terminate the agreement early, a move that often incurs additional fees for the early exit. For forklifts procured through such an agreement, there are often annual operating hour limits that tend to stay around 2,000 hours. If the use of the forklift exceeds those limits, the lessee is then responsible for paying additional fees. Furthermore, the lessee is responsible for any excess wear and tear that occurs with the asset.

At the conclusion of a Closed-End Lease, the lessor might look to sell the asset at its depreciated value. It is possible that the lessee might still seek to purchase the asset at this new rate, and there may even be incentives offered to complete such a deal at a reduced price.

When financing a forklift or forklift fleet, always remember to ask a lot of questions and obtain as much information as possible. Your local authorized Toyota Dealer and Toyota Industries Commercial Finance are happy to provide you with any additional information you need as you begin your forklift leasing process.

Posted by tfinco at 10/3/2022 8:47:00 PM
Wednesday, August 25, 2021

Columbia is proud to offer advantageous purchasing options for governmental agencies looking to save time and money by dodging the bidding process entirely. One of those options is National Cooperative Purchasing Alliance or NCPA. 


Sounds great, but what is NCPA?

Great Question. The NCPA is a leading national government purchasing cooperative working to reduce the cost of goods and services by leveraging the purchasing power of public agencies in all 50 states. NCPA utilizes state-of-the-art procurement resources and solutions that result in cooperative purchasing contracts that ensure all public agencies are receiving products and services of the highest quality at the lowest prices.

Columbia’s Lead Agency: The lead agency or first organization to negotiate a contract with Columbia and the National Cooperative Purchasing Alliance (NCPA) was Region 14 Education Service Center. Region 14 ESC is located in Abilene, Texas, and comprises 43 school districts.  Because Region 14 ESC did all of the work of going through the bid process and signing a contract with us, any agency that qualifies for purchasing through the NCPA will automatically receive the best price possible that was established for Region 14 ESC. This allows Columbia to focus on finding the perfect vehicle solution for other organizations that want to purchase through the NCPA. 


Interesting. But what does this all mean for me and my procurement efforts?

Basically, utilizing Columbia’s contract with NCPA means that you have access to pre-negotiated pricing between Columbia and a governmental lead agency. By utilizing the work done with the lead agency, you are left with two massive benefits:

TIME SAVED: Normally, you would be stuck in the middle of the bid process for weeks or months, waiting on the negotiations that establish the correct pricing from all bidders. By working with Columbia and NCPA, this process has been completed ahead of time, allowing you to pass by this long ordeal entirely.

MONEY SAVED: Most Procurement teams know the struggle of fighting for the best pricing within the bidding system. By working with Columbia and NCPA, you are able to take advantage of the work done by the lead agency who negotiated the best possible competitive pricing.

To learn more about your state's laws on cooperative purchasing and see if you qualify for NCPA, click HERE. Register for the NCPA HERE.

Posted by tfinco at 8/25/2021 9:18:00 PM
Wednesday, June 17, 2020
    • Why to Choose ToyotaA History of Excellence and Leadership: Toyota’s forklift division began in 1956 in Japan with the introduction of the first Toyota forklift. Today, Toyota is the world leader in forklift sales.
    • Safety Innovation: Toyota introduced the world’s first and only System of Active Stability (SAS). The system electronically monitors the forklift’s operations to help reduce the likelihood of both lateral and longitudinal tip-overs.
    • Technical Innovation: In 2000, Toyota became the first major forklift manufacturer in the United States to offer AC technology to provide high performance and efficiency. The AC motor contains no springs, brushes, commutators or directional contractors, making is virtually maintenance free.
    • #1 in Quality, Durability, Reliability, Value and Lowest Cost of Ownership: Toyota forklifts are ranked number one in numerous studies conducted by Peerless Research Group.
    • More Than a Forklift Manufacturer, Toyota is a Full-Line Supplier: In addition to a full line of high-quality forklifts, Toyota offers other industrial equipment products including narrow aisle solutions, walkie stackers, automated guided vehicles (AGV’s) and tow tractors.
Posted by tfinco at 6/17/2020 4:02:00 AM
Entries 1-3 of 3