In need of a forklift? If so, you will likely be wondering whether it is best to buy one or to hire one instead. The simple answer is that there is no such thing as the ‘best’ choice. Whether you opt to buy or hire a forklift will depend on a variety of different factors. Here is how to make the best decision for you and your company:
When to Buy a Forklift
You should consider looking into various forklifts for sale if you know that you will be using the forklift on a regular basis. In this instance, it will work out much cheaper in the long run, rather than having to ‘fork’ out rental fees indefinitely. The main pro of buying a forklift is that it becomes one of your company’s assets, which may also help to bring about advantages both productivity-wise and tax-wise.
Just be sure that you are able to manage the initial upfront cost and that you will be able to dedicate a certain amount of money to maintain the forklift over the years. If you are keen to buy a forklift but do not have a budget to work with, it is definitely worthwhile to consider used forklifts for sale, as opposed to new ones.
When to Hire a Forklift
Forklift hire comes in handy when you only require a forklift occasionally. It allows you to avoid having to make an investment and you may be lucky enough to take advantage of a fixed monthly cost with no worries about being hit with sudden repair or maintenance bills. Furthermore, opting for forklift hire means that you will always have access to the latest technology. As new models come out, you can request to transition from the current model that you have been using to the newer ones, and watch as your company benefits.
Forklift hire is recommended to business owners who intend to purchase their own forklift in the future. The reason for this is that it makes it possible for them to test various brands and different types of forklifts, such as gas forklifts, diesel forklifts and electric forklifts, before making a decision regarding which one best suits the nature of the business and fulfils its function best.
Unfortunately, however, the only downside when it comes to forklift hire is that the forklift will obviously not belong to you, so you will have to adhere to a number of restrictions in terms of how you use it – many companies will have penalties in place when it comes to overuse, for example.