Why Renting a Forklift Long Term Can Make Sense
Forklifts, just like any heavy machinery, are a significant investment for any company or project. Sometimes, renting a forklift long term over purchasing a forklift can be a wise choice for your needs. There are many factors to consider when deciding whether to purchase or rent a forklift, including cost, customization, and project needs.
Renting a Forklift: The Benefits
Forklifts are expensive pieces of equipment, and once you commit to purchasing one, not every company or project has the budget to have multiple different types of heavy machines.
Often, lifting and maneuvering requirements can vary from project to project. Your lifting capacities, type of terrain, the size requirements of your equipment, or other features such as the ability to fit in tight spaces or have an extendable arm can all change with different project needs. If you have variable lifting requirements, renting a forklift long term could be a good solution.
This would allow you to rent the specific type of forklift that meets your current lifting requirements rather than be stuck with one type.
Since heavy machinery is so pricey, it is crucial to question whether or not the investment will be worth it long term. Besides the initial costs of a forklift, these machines are depreciating assets, and they lose their value at a rapid rate, especially under heavy use.
When renting a forklift, you don’t need to worry about the depreciation or life cycle of the equipment, and the expenses can be written off as operating costs.
Another benefit of renting a forklift is that you will consistently be using newer, more modern equipment. This means you can maximize your efficiency and your machine’s uptime. There will be fewer repairs and worries, and your operators will be safer operating newer equipment.
Renting a Forklift: The Drawbacks
Although renting a forklift long term can have many benefits, there are also several reasons why purchasing a forklift might be better for your company.
First of all, monthly rental fees might be higher than financing a forklift. So if you plan to use the same type of forklift for a long time, it might be more prudent to purchase the machine and have a lower monthly bill. Additionally, when you finish using your forklift, you may be able to sell it depending on its age, condition, and the current market demand.
Another benefit to buying a forklift over renting a forklift is that you can customize a forklift that you purchase. Many long term rental forklifts are standard machines or come in different grades (basic, premium, etc.). These machines, although potentially newer, are usually made for the average job. There is not much about them that is customizable. Therefore, if you have specific needs, such as dimensions, weight-bearing capacity, or terrain, you may find that renting a forklift long term might not fulfill your requirements.
How We Can Help
At used-forklifts.net, we specialize in helping you find the perfect forklift for your needs. We use a simple three-question survey to assess your lifting requirements. After that, your work is over! We use our years of industry experience and vast network of connections to offer you the best quotes on used forklifts for sale from certified, reputable dealers. And, we send them directly to your inbox, hassle-free!
To browse our inventory, get a quote, or speak to a member of our staff, please visit used-forklifts.net/request. We can’t wait to help your journey to finding the right forklift for you and your business.
Find the Right Equipment Now
It only takes a few minutes!