Deciding whether to rent or buy material handling equipment is a crucial decision. There is a lot to consider, and the process might leave you with more questions than answers.
We have prepared a quick list of the benefits of renting and buying. We have also answered ten frequently asked questions about renting vs. buying so you can make the best decision for your needs.
BENEFITS OF RENTING VS. BUYING A FORKLIFT
Benefits of Renting Forklifts and Material Handling Equipment
- No maintenance budget or forklift techs required
- Get equipment with the latest ergonomics and technology
- Flexibility to switch equipment whenever you need
- Great for seasonal highs and lows
Benefits of Buying Forklifts and Material Handling Equipment
- Pay for only the features you want and need
- Customize your equipment with special forks and other options
- Buying capital equipment can have tax and other financial benefits
FAQS ABOUT RENTING VS. BUYING A FORKLIFT
Here are answers to ten frequently asked questions about renting vs. buying a forklift.
- Who takes care of maintenance on rental equipment? The rental company will take care of servicing your forklift if any problems arise. They should also provide replacement equipment at no charge while your initial rental is out of service.
- What is the difference between a short- and long-term rental? Short-term rentals range from weeks to up to six months. Long-term rentals range from six months and longer.
- We have rough terrain. Should we rent or buy? If you work in a harsh environment, you should consider buying a forklift. Excessive wear and tear on rental material handling equipment could cost you.
- We have limited capital. Should we rent or buy? Renting a forklift has lower upfront costs than buying a forklift.
- What is in a material handling equipment rental agreement? Most rental agreements include delivery, pick-up, service, maintenance, etc. Make sure there are no hidden costs when you compare quotes.
- Can we rent forklift attachments and accessories? Yes. Many companies rent propane tanks, fork positioners, paper roll clamps, and other add-on equipment.
- Can we rent-to-own material handling equipment? Yes. Many rental equipment companies have rent-to-own contract options.
- What is the benefit of renting from a material handling dealer? Material handling dealers specialize in forklifts and warehouse equipment; you will have a broader range of equipment to choose from and access to experts in the field.
- We need extra forklifts during our busy season. Should we rent or buy? Material handling equipment is expensive. It is best to rent if you only need additional equipment for a few weeks or months a year.
- We have multiple locations but do not have a way to transport material handling equipment between them. Should we rent or buy? If you need to move equipment between sites and do not want to purchase another piece of equipment to move it, it might be better to rent. The rental company can take care of delivery and pick up at each location, along with service, cleaning, and a host of other things.
Have more questions, or are you ready to rent or buy? Contact us to speak to one of our material handling experts today!Tags: free resources, renting a forklift, warehouse solutions