Buying Vs. Renting: When to Rent

Last week we gave you a look at some of the reasons why buying a forklift might be better than renting one when you need it for a job. To summarize: Buying a forklift is cheaper if you plan on using it long-term. It’s nice to not have to worry about superficial damage on a forklift that you own. When you own a forklift, it’s available whenever you want, and you aren’t relying on someone else making it available when you need it.

There are many situations where renting a forklift may be the right decision for your business. One huge benefit of renting forklifts is that you don’t need to worry about updating your fleet to comply with current emissions standards. In a time where we are increasingly concerned about the environment, updating your vehicles to comply with emissions standards can constitute a huge unforeseen expense. Renting a forklift ensures that it is up to the latest EPA and OSHA codes.

Renting a forklift is also much cheaper if you plan on using it on a short-term basis, sometimes even if you need to rent it on many occasions. Some jobs simply don’t require a machine to always be available or to be used on a regular basis. Note that when figuring out which would be cheaper, one needs to consider the costs associated with buying beyond the initial price tag. Maintenance, updating equipment, and staff should all factor in when figuring out your budget.

While you will still need certified operators, renting a forklift also helps reduce costs by reducing the amount of employees you need to function. Buying a forklift requires having an in-house mechanic prepared to tackle problems as they come up. When renting a forklift, mechanical issues are handled by the company that owns it, saving you money on your payroll as well as the cost of materials.

We hope that we have helped demystify the question of buying or renting a forklift for you. When you know what’s right for you, make sure to call one of the Sales or Rental Specialists here at Accurate Lift so we can help you get set up.

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