Renting Vs Purchasing Forklifts

The role of forklift has diversified over years. Almost all the leading industries rely upon them for lifting and directing large quantities of goods. However, not every industry that is using forklifts for its operations opts to purchase them even if they need to be used on a regular basis. There are countless reasons why one prefers to opt for renting them rather than purchasing. Let us see what those are.

Minimum or no upfront purchase costs:

The best part is that you can hire forklifts for either a short term or long term depending upon your usage. Organizations can always stay away from the hefty price that comes in the form of upfront costs imposed while purchasing a forklift. Long term hiring can be arranged for weeks to months. The price keeps on decreasing with the tenure. So, you can actually make some extra savings when sidelining a long term hiring deal.

Zero maintenance costs:

When you purchase something, it becomes your responsibility to cover all the maintenance costs and anything else associated with downtime. A device that runs continuously is susceptible to incur wear and tear, which adds to the overall cost of asset. Older the forklift goes, more maintenance costs would it demand. On the other hand when you hire a forklift, it is the hiring company that is responsible for all maintenance costs. Be it servicing or some repair, the cost for the same does not need have to be taken into consideration by you.

Safety issues & legal terms:

It becomes responsibility of the owner to conduct timely check over the maintenance of vehicle and make sure that it meets all the relevant safety requirements. Negligence of scheduled maintenance and inappropriate working conditions causes violation of the rules set by forklift legislation. To avoid the same, the companies are asked to avail expert advice along with complete risk assessments. However, when you hire a forklift, your responsibility is confined till training the staff and maintaining the desired work environment.

Unlimited choice of models:

You get access to countless forklift options when you renting a forklift rather than buying it. As per the job requirements, you can keep on hiring different forklift models. When you purchase a forklift, your options are confined as forklifts are expensive cannot be purchased again from time to time. Instead, you can keep on hiring different models.


Undoubtedly, it is clear that renting a forklift is a better decision than buying one. However, the final decision depends upon your business operations and as per the professional company standards that need to fulfilled.

What To Consider When Renting A Forklift

When renting a forklift, the best that could be done is to set a course of action. Planning beforehand helps in making things manageable and saves you time and headaches that follow while going through countless options. Have a look at our detailed guide that will walk you through all the information that you need to rent the perfect forklift.

  1. Evaluate The Weight Capacity

You should be knowing how much weight does your forklift has to lift and carry. On an average, a forklift weighs 5,000 lbs. Considering the weight capacity is an important detail when planning to get a forklift on rent as this factor determines the load that could be carried. Other factor that has to be included is the product packaging. Make sure you decide:

  • If you want it to be on pallets or sitting on the floor
  • Size has to be uniform or irregular
  • How secured product is (shrink wrapped or strapped)?
  1. Determine Lift Height

Other important factor that matters in this case is the reach height. Just as the weight, the measurement has to be as accurate as possible. The forks need to reach a particular height, which means the fork should be having the ability to lift the weight up to height. Choosing a forklift that fails to tolerate the weight up to the desired height would be of no use and could be dangerous as well.

  1. Surfaces where the Forklift Will Be Driven

You need to know where your forklift would be operating, whether it is a warehouse, a factory or some construction site. This is because environment makes a great difference in identifying the type of tires that the forklift would need. You should be taking in to consideration that required turning radius and the minimum aisle width.

  1. Set a budget

Renting a forklift is definitely not that expensive. You can get a standard 5,000 lb forklift for minimum $100 per day. Other than the basic rent, you will have to take in to consideration, the operational costs such as fuel (LP or Diesel).

  1. Time required completing the job

Consider how soon you wish to complete the job through forklift. Depending upon the same, decide whether you want the rent for a day, week, month or more. Make sure you hire one while planning for how much time you require the forklift. When you hire a forklift for a longer period, the per-day rate is less.

Enquire the company about how much they charge for the overtime charges. Most of the forklift rentals are decided based upon 8-hour day/40-hour week/160-hour month. Overtime charges apply when you require it for extra time.