How to Know When to Rent vs. Buy a Forklift
How do you know when to rent vs. buy a forklift? “Renting” a forklift for your in-plant projects has many benefits. For example, while you are renting a forklift, any repairs for equipment you currently own can be addressed. Another benefit is that it allows you to try the latest advances in equipment technology with our late model rental fleet. We will even come to your job-site to provide you with insight on which piece of equipment would work best for your application.
Try equipment out before you buy it…that just makes sense. However, renting often has a higher long-term cost, so consideration should be given. Because renting is more expensive than leasing; it’s more costly than buying, so each angle should be examined. If your project is going to be short term, renting could be a better option.
If your warehouse or work site uses forklifts every day for many hours, buying is more likely the better option to consider. The cost of renting a forklift is offset in some margin by the benefits mentioned here, but long term renting should be discussed with a material handling professional that can help guide you in the correct choice given a specific requirement. In addition, owning a forklift is considered an asset—if you wish to sell it in the future to upgrade, there in most cases is a value towards the purchase or lease of your upgrade.
To make your decision, call the professionals and schedule a free consultation to help your company figure out the best and most cost saving option. Contact us today!