Could Forklift Rental be a better option than Buying, for your Company?
Do you need a Forklift but are not sure what type, brand or specification will suit your requirements?
Do you have a short term requirement for Forklift/s and do not need to outlay the capital required to purchase the equipment?
When you need a forklift but are unsure of the best way to procure it short or medium term Forklift Rental help clarify your requirements and assist to best decide what to purchase and how to structure the most suitable deal.
Whilst Forklift Rental may make long term sense to many Companies, it is not always the best way to acquire this equipment. We have put together a short comparison to help clarify advantages of Rental vs Purchase, which we hope will assist you when faced with this decision.
Advantages of Forklift Rental
1.)No Large Capital Outlay
Large capital expenditure or raising funds by bank or other loans is not a requirement to rent a Forklift, meaning capital is not tied up needlessly or bank loans do not have to tie up facilities that could be used for other purposes.
2.)Fixed Ownership and Maintenance Costs
Fix your Forklift costs for accurate budgeting by renting in place of owning Forklifts. Contract Rentals for fixed periods enable you to accurately forecast and contain operating costs of Forklifts.
The flexibility offered by Rentals vs Owning enables you to always have the right Forklift options for your purpose at any time of your Company’s life, greatly enhancing your ability to change with the demands created by growth, new products, or whatever may change within your operation.
Disadvantages of Forklift Rental
Long term costs for hiring a Forklift will be higher than outright purchase or financing to own the equipment, though this can often be countered by other financial factors and operational priorities.
2.)Exact specification of Forklift not always available
There are instances when your Company may require a specific type or class of Forklift for a specialised function and the Forklift Rental Company might not be able to meet this requirement from their standard fleet. In this case purchasing the exact type and model will be your best option.
Naturally when renting a Forklift ownership of the machine remains with the Rental Company and at the end of the term after paying rental premiums for the full term your Company does not enjoy owning the asset which could have been used as a trade in against a replacement.
The above are the major “for’s” and “against’s” when considering the acquisition of a Forklift for you Company. Whilst this may not be the absolute definitive list, each of the above should be examined to ensure that you get the deal that best meets your needs both operationally and financially.
Above all, make sure that you choose the very best FORKLIFT SUPPLY PARTNER to tailor the deal to Optimise your investment!
CALL US NOW FOR AN ASSESSMENT AND RECOMMENDATION : (011) 609 1726/86