The benefits of renting a rough terrain forklift for your business is vast. However, some may wonder why they would choose to go with a rental and not purchase one outright. There can be several reasons for this and it is important to weigh the pros and cons on both sides.
The first benefit to renting is that there are no upfront costs. Not only does this mean less money out of the business owner’s pocket, but it also means that they can avoid taking on debt or financing a purchase. Assuming the forklift will be used for the short term, the company may want to avoid a long term commitment. Renting allows them to do just that.
Another benefit of renting is the ability for businesses to use specialised equipment. Not every business needs a forklift on a daily basis, but they may need one from time to time for major projects or particular orders. In this case, companies can rent a forklift without making a massive equipment purchase.
Another benefit of renting is the reduced cost of insurance. Insurance costs are increased depending on what kind of forklift is being rented, where it is being used and if the driver has been properly trained. In other words, people who rent or hire rough terrain forklifts are not at risk for increased insurance rates.
If a company is only going to use the forklift occasionally, it may be better to rent or hire rather than buy. This way, they are able to avoid having forklifts just sitting around collecting dust. It also gives them extra mobility and flexibility since they do not have to worry about repair costs or the initial purchase of the forklift.
While renting does have many benefits, sometimes it is better to own. For instance, if a company plans on using the forklift often or for very long periods of time, they may want to invest in one that will last through several job sites and projects. Forklifts take a lot of wear and tear, especially rough terrain forklifts.
If a company plans on using the forklift for more than a year or two, it may be beneficial to own. However, there are still some benefits of renting over owning. One of those is that if a business owner already has capital tied up in equipment and they need a forklift for one-time jobs or projects, they can rent or hire without having to reallocate funds.
Although there are many reasons companies choose to go with rough terrain forklift rentals over buying, the main reason is because they only need the equipment when it is necessary and for how long it is necessary. Forklifts are expensive machines that many businesses would rather not make a large investment in if they do not know how long they will be used or if their company is going to expand and require more equipment.
A forklift rental is a great option for a business owner if a heavy piece of machinery such as a wheel loader or telehandler has already been acquired by the company. Companies who have specialised material handling needs can also benefit from renting or hiring forklifts because they have the ability to move different materials, whereas with an ordinary forklift, materials can only be moved within a certain weight range.
If you have any questions or concerns regarding rough terrain forklifts for hire or rent, don’t hesitate to contact us today and we’ll help you out ASAP!