Should I buy or hire a forklift truck?

Forklifts are one of the most commonly used types of equipment for handling materials. They are robust and efficient machines that can adapt to various business needs and are used in warehouses, shipyards, loading docks and department stores. The choice to hire or buy a forklift is a significant step for any business. For you to make the right decision, we’ll take you through some common reasons why companies purchase or hire a forklift.

Hire a forklift

Hiring a forklift can be very appealing to businesses, whether short-term or long-term. It may be difficult to rent one for prolonged or intermittent periods, but you can still crunch up the numbers to ensure that you are making the best financial decision. Some of the most sought-after forklifts are:

Warehouse forklift

This type of forklift is the most common and the most recognized. Warehouses with extensive inventories use them most frequently. These lifts are perfect for packing and unpacking items as well as offloading and trucking items from vehicles.

Counterbalance forklift

The counterbalance forklift is commonly used in indoor establishments. They have forks fixed at the front and weights at the back to counter the load. These lifts don’t have outrigger arms, making it easier for the forklift to move to the exact intended location.

Rough terrain forklift

Rough terrain forklifts are ideal for outdoor work on rough, challenging terrain. They have engines far more powerful than indoor forklifts, which help them gain high speeds and have better manoeuvrability for transporting heavy loads over uneven grounds. Forklifts have many moving parts, requiring professional maintenance if something goes wrong. By hiring a forklift, you avoid all-year servicing and maintenance costs as these will be included in the hiring agreement. Moreover, if a truck doesn’t fit your purpose, you can easily swap with a different forklift model without incurring significant charges. You can also get newer models which have economical fuel costs and meet the latest standards for safety and emissions. Hiring is particularly advantageous for businesses with peak periods that may only need a forklift for certain periods of the year.

Buy a forklift

You may wonder why some businesses buy their trucks. Buying a forklift means it will always be there when you need it, and it’s rightfully yours. You can do a rush job on time compared to renting, where you may have to wait for a few hours for it to get to you. You can also customize and make modifications on your forklift depending on your business operation needs. Over a lifetime, buying the machine outright is less costly as it provides a better return on investment (ROI) than weekly or monthly rentals. If your business involves a lot of heavy lifting, it may be better to buy a forklift because you’ll be using it regularly. Although hiring is simple, it may get tiresome, especially when using identical forklifts. Many businesses would choose to buy their own and save time in this case. If you buy your forklift, you can spend time training your staff to become experts, hence helping them complete jobs safely and run their tasks efficiently. Whilst forklift hire is sometimes accompanied by training, it will involve learning how to operate a new model each time you take out a rental. This is time-consuming compared to the one-off training required when you purchase a forklift. Since 2020, businesses have been forced to adapt to keep up with the high demand for online shopping and other logistical changes due to COVID-19. As a result, there has been a sharp increase in demand for used forklifts. Businesses are choosing to look for reliable dealerships to benefit from faster turnarounds since they need to provide units with minimal downtime. Electric forklifts are becoming the most sought-after units, with Caterpillar, Hyster and Still forklifts providing the agility and the required lift capacity.

Contact Radnes Services today

Need help with hiring a forklift, or do you want to purchase one? We offer services and advice that will steer you in the right direction. Get in touch with our expert and friendly team for all your forklift needs.