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Deciding When to Rent or Buy a Forklift

When deciding between renting and buying, there are lots of things to consider. Your best solution will depend a lot on the specifics of your operation. Things like fleet flexibility, budgets and maintenance are all important factors when making your decision.

WHEN IT’S BETTER TO RENT A FORKLIFT:

  • When your business is seasonal to be as cost efficient as possible, it’s an easy way to adjust your lift truck fleet to keep up with demand
  • Maintenance and service is included in the rental fee, so there are no unexpected repair costs
  • No need for in-house technicians or the carrying costs of parts
  • You need to conserve capital- no expensive upfront investments
  • Planned usage spikes such as warehouse relocation or yearly inventory
  • You want to ‘test drive’ a specific truck or new technology.
  • Forklift rentals are an operational expense versus depreciating a purchased truck.
  • You have a fixed budget

WHEN IT’S BETTER TO BUY A FORKLIFT:

  • You have unique needs or spaces that require custom machinery for the best productivity
  • Your operation has a steady demand which requires consistent forklift usage
  • You have steady, but light forklift use so a purchased truck will last a long time
  • If you already have an in-house service tech and can perform your own maintenance
  • If you are not located near a rental business making it inconvenient to rent
  • Operations are predictable without seasonal fluctuation

We help businesses make decisions on whether buying verses renting is best for their specific operations. If you would like to have a free conversation about your operation contact us at 800.856.0931.

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