Should you rent or buy a forklift?

One of the requirements of industry is the necessity of a forklift. It is not always a nice-to-have; usually, it comes down to whether you are able to run your business at all without a forklift. One of the questions most business owners have to ask themselves is whether it is better to rent a forklift instead of buying one. There are a few questions you can ask yourself to make the challenge of choosing a little easier!

What are the benefits of renting a forklift?

forkliftWhen you really need a forklift to shift your cargo, it is essential that the forklift can do the job. This means that you must have the right model with the right capacity and that you need to be able to keep it running effectively for the duration of the project. If your business does not require you to have access to a forklift at all times, it may be more economical to rent a forklift from a reputable company. Not only does it mean that you will have access to a forklift that can do the job, but it also means that you don’t have to pay storage or instalments during times when you don’t need the services of the forklift.

In addition to this, the suppliers of rental forklifts must service and maintain their equipment for the rental market, which means that you don’t have to spend any money or labour on maintenance and servicing! One of the best benefits of renting a forklift is that you will have access to the best forklift for your particular operation and requirements. Technology is moving at such a fast pace that there are new models available all the time, and if you choose to rent instead of buy, you will have access to the latest models on the market.

What are the benefits of buying a forklift?

If you want to buy assets, buying a forklift for your operation is a good way to go. Forklifts tend to retain their value, because they are useful and practical, and no matter how much technology advances, the job of a forklift remains the same – to ensure that your goods get moved from point A to point B. Owning a forklift increases the asset base of your business and it means that you will always have access to the lifting power you need at a moment’s notice.

If you are wondering whether to purchase or lease a forklift, just give our team at EIE Group a call. We will be able to advise you to make the best decision.