Overview
Forklifts are heavy-duty equipment used in various industrial sites, warehouses, construction, and anywhere heavy loads are needed to be moved over a short distance. These machines with giant forks are either powered by battery, gasoline, or electricity. A typical forklift can up to 4082 kilograms while an average car weighs 1360 kilograms.
Much like cars, there is always a debate when it comes to forklift ownership. Most people wonder whether to buy (new or used) or to rent. While is there is no right or wrong answer, here are few things worth considering when making your decision.
Capital Base
>A key factor to consider when investing in a forklift is your capital base. How much money do you have available to you? When buying a new forklift, it would require less maintenance on the long-run which saves you money. But it also requires a huge capital upfront. Another question to consider is the number of forklifts you want. Do you want to start with one or a fleet? Depending on the scale of your business, you may start with one and work your way up as your business grows. If you go for a fleet, can you handle unscheduled maintenance occurrences? These are vital questions to keep you guided. Whether you are buying (new or used) or renting, Mars Forklifts in Sydney offers reliable products at affordable prices. Mars Forklifts is Australia’s largest forklift retailer.
Usage Intensity
Another factor to consider is usage intensity. If you intend to use the forklift for over 12 hours daily and under harsh weather conditions, then you can expect to perform frequent maintenance. A rented forklift will cost you a lot in rent and maintenance fees. Whereas your own forklift will be considered an investment since you can rent or sell it later. In cases where the usage intensity is as low as 1-2 hours daily, consider renting instead.
Warranty Options
Rented forklifts do not come with warranty. As such, you have to be careful when using them. In some cases, an insurance contract is offered in case of damages. All of these only add up the costs when considered holistically. Genuine forklift parts are available for servicing and replacement when new forklifts are purchased with a reputable retailer. Warranty options range from 12 – 36 months (or 2000 – 5000 hours).
Rental OptionsThere are three options available for rent:
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Short-term rental – typically in terms of days, weeks or month. But not more than a year. In this case, the cost of maintenance is included in the rental fees. If you have a short-term project then this plan is suitable for you.
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Long-term rental –involves rentals longer than one year. This plan also includes regular maintenance where authentic replacement parts are used and servicing is done by professionals. Perfect for long projects with a deadline.
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Rent to own – this rental contract is idle for those who wish to buy a forklift but do not have the necessary capital base. Maintenance is done at your own cost. At the end of the plan though, you own the forklift.
Summary
When making your decision whether to buy or rent, take your time and weigh your options. Consider your project goals and capital base. Sometimes it is better to rent than buy. Other times, buying is a wiser a choice.
