Should I Buy or Rent a Forklift?
Forklifts of all types are one of the most commonly used material handling equipment. Since they were first invented in the early 20th century, forklifts have proven to be a robust and efficient machine that can adapt to varied business needs. They are used in shipyards, warehouses, loading docks and even some department stores. The forklift is so ubiquitous that the pallet, the wooden structure designed for easy forklift manipulation, is standard unit load equipment. And nearly every warehouse design takes into consideration the spacing needs of the forklift operations.
Forklifts come in a wide range of sizes, power options and lift capacities. And there price is largely dependent on what the buyer needs out of the machine. Deciding whether to buy or rent a forklift requires a delicate consideration of the benefits of each option while taking into consideration the needs of your project or business operation.
Rent a Forklift
If you are only going to need a forklift for a month or less, the best option is to rent. The difficulty comes in when you need one for a longer period or in intermittent periods throughout the year. In these cases, it may still be cost effective to rent a forklift, but you may need to crunch the numbers to make sure that you are making the best use of your money. There are some benefits of renting a forklift over buying that, if taken into consideration with the base rental cost, make forklift rental more economical.
For example, if you rent a forklift, you do not need to concern yourself with maintenance costs. Forklifts have a lot off moving parts. So many so that many companies that buy them have forklift maintenance personnel on staff in case something goes wrong. Both the cost of parts and the labor of the mechanic can be struck from your cost considerations with a rental.
Another advantage of renting a forklift is the fact that you can be equipped with the latest forklift technology and equipment. There is often economical – like fuel costs- and safety benefits of the newer models.
Buy a Forkift
A forklift can cost anywhere between $15,000 and $50,000 depending on the power supply – gas, diesel or electric – and the lift capacity. This kind of price tag can be a considerable expense for the small or medium size business. Added to maintenance, the total operational cost increases. If you are considering buying a forklift, it is important that you can justify the cost in terms of the benefits and productivity. If you do not foresee that you will require a forklift for more than a few weeks a year, purchasing is not going to be in your best interest. However, if your operation is of the type in which a forklift will be used frequently, purchasing a forklift is less costly in the long run over renting or leasing. Here is a nifty calculator that can help you determine the overall cost of a forklift purchase: http://et.epri.com/Calculators_Lift-Truck-Comparison.html
Forklift Rental and Purchase at Reno Forklift
Whether you need to buy or rent a forklift, Reno Forklift can help. We offer new and used forklifts of a variety of models and types. Serving Northern Nevada and the Reno area for over 50 years, the Reno Forklift team are experienced and qualified to help you make the best choices about your forklift needs. Check out our online catalog or contact us today!