Advantages of renting a forklift: why is it worth renting?

Should a forklift be bought or rented? Let’s find out together what are the advantages of renting

Small and large businesses, entrepreneurs of all ages and with different levels of experience, wonder if it is better to buy or rent a forklift.

Both alternatives could prove useful and functional, but they still refer to two different types of situations.

Depending on the company’s capital, availability and needs, the choice between a purchased and a rented model can change drastically.

For this reason, today we will try to find out together what are the advantages and disadvantages in buying and renting a forklift.

You will then be able to evaluate your alternatives and find the most suitable, cheapest and most advantageous solution.

When to rent a forklift

In the past few years, the number of entrepreneurs who have decided to rent a forklift rather than purchase one has grown significantly.

More and more people have been considering this alternative, trying to get the most out of renting. But what are the actual benefits?

Pro

Fixed and plannable costs
In addition to being cheaper than a purchase, forklift rental is also easily plannable. The price charged is always fixed, and in the large majority of cases is advantageous for businesses that do not need to have the truck available 24 hours a day.
Up-to-date vehicles
With rented trucks, you do not run the risk of remaining “backward,” but you have the option of always choosing up-to-date and fully functional models.
Absence of maintenance
Those responsible for maintenance are certainly not the renters, but rather those who decide to make the cart available. Maintenance costs and those associated with any damage are not the responsibility of those who choose to rent a forklift.
Deductibility
The rental fee is a fully deductible cost.

Cons

Unexpected needs
Rental is always connected to some “planning.” The only risk for those who choose to rent a forklift rather than buy one is that of not having it available at the time of sudden need, when there are unexpected emergencies.

When to buy a forklift

We have seen the advantages and disadvantages of renting a forklift, so we can move on to those of buying one.

In most cases, the choice is mainly driven by budget reasons. Those who cannot afford a too large initial investment are always inclined to rent rather than buy.

Pro

Long-term investment
Purchasing a forklift means having the tool available at all times and for several years. We are talking about a long-term investment, which manages to benefit the business well into the future.
Tax credit
When the cart is equipped with technologies that can be associated with Industry 4.0, atax credit of 40 percent of the purchase price can be obtained.

Cons

Maintenance
Once purchased, the cart must be subjected to repeated and continuous inspection and maintenance actions. Obviously, maintenance has its own cost, external to the purchase price.
Model depreciation
As the model ages, it may suffer “depreciation,” losing value due to the release of more updated models. Therefore, selling it may then not be profitable.

Conclusions

Taking into consideration all the information accumulated so far, we can define renting a forklift as “a profitable business.”

From both a practical point of view (immediate availability and always up-to-date models) and an economic point of view (fixed and advantageous costs) renting can be considered positive and smart.

All doubts should now be gone, and you should be able to have your position clear. What will you do, rent or buy a forklift?