Why Forklift Hire Works Out Cheaper and Better Than Outright Purchase

If your business depends on moving large objects from one location to another, you will probably need a forklift, or several forklifts. These are used in a variety of industries, from building and construction to most warehouses, distribution centres and production facilities. There is, however, an ongoing debate about whether it is best to choose forklift hire or to purchase them outright. Many companies choose forklift hire, and even large companies with the financial resources to purchase forklifts sometimes outsource their forklift use to rental companies for varying reasons.

Advantages of Forklift Hire

Because forklifts are expensive, they require a substantial financial commitment. It could be hard to come up with the money without affecting cash flow and, even if the forklift is bought on hire purchase, interest may be high and the buyer ends up paying a lot more for the forklift than it is worth by the time it is paid off. Forklift hire allows organisations or individuals to get hold of the forklifts they need at a lower cost, which makes this option a lot more accessible for smaller operations.

If you buy a forklift, you have to maintain and service it according to manufacturer’s specifications. If the forklift breaks down, it is out of action and cannot work until it has been repaired, sometimes at great cost. If you choose forklift hire, the rental company is responsible for the maintenance, servicing, and repairs, and this means that you will have access to an operational forklift. If it breaks down, you can ask the rental company to replace it with another forklift for the duration of your project. This means that you will have no downtime while waiting for the forklift to be fixed.

Sometimes, forklifts are only needed during certain phases of a project, or only when there is a project running. If you buy a forklift, you will have to store it during the time it is not needed, yet you will still have to pay for it while it is unproductive. Forklift hire allows you to book and rent a forklift for only the periods or the project phases when a forklift is required. When the job is done, send it back and pay no more!

As with all other technologies, industry developments in the forklift industry mean new and more innovative forklifts all the time. Companies who rent out forklifts usually stay ahead of the competition by investing in new technologies, which means that, if you choose forklift hire, you will have access to the latest models on the market. These can help to do the job better and work more efficiently.

If you need forklift hire for your projects or warehouse, contact our team at the EIE Group for more information!