Forklift Acquisition Options
When it comes to forklifts and material handling equipment, there are several options for you to take advantage of when you need to utilize a forklift. Some options are purchasing, leasing, and renting. But the big question is “What best fits your needs?” That is the million dollar question. When you decide to rent, there are three viable options for you to choose from: short-term rentals, long-term forklift rentals, and rent-to-purchase. Each has its advantage but one has many complexities to understand why it would even be an option: a long-term forklift rental.
When are Long-Term Forklift Rentals a Viable Option?
If you intend on using the rental forklift for an extended period of time, say more than 6 months, why wouldn’t you strongly consider purchasing or leasing, especially for when it’s an extended period of time and may even need the forklift permanently. The answer is that long-term forklift rentals free up your working capital if you are intending on making other large purchases for your company. When it comes to long-term renting, you don’t own the asset, you have no overhead, and no long term acquisition commitment to consider. All-in-all, this option provides you flexibility until you are ready to make that decision to purchase. If the long-term rental becomes a more permanent need, you could transition into a rent-to-purchase option and slowly pay on the rental until you are ready to take on working capital.
There are quite a few scenarios where long-term forklift rentals can be a good option for you. It is just a matter of your situation with both you financials and production.