Should You Rent, Lease, or Buy a Warehouse Forklift?
Stuck between whether you should rent, lease, or buy a warehouse forklift? Well, your choice depends on several circumstances. If you can afford to and if it benefits your company, buying a forklift is always a great idea. Although, if you are a bit tight with company spending and are unsure of how long you will need a forklift, renting or leasing are two options to think about.
At Prana Machinery, we allow you to rent or purchase a forklift. Even more, we’re here to help you by discussing the benefits of renting, leasing, and purchasing.
The Benefits of Warehouse Forklift Options
Renting
Forklift rentals are often preferred because they only require temporary costs. If your warehouse or worksite doesn’t need a forklift on a daily basis, then a rental should work. In that case, if you are waiting to upgrade equipment, a temporary solution such as a forklift rental works best. Even better, rentals are rather affordable.
Leasing
Maybe you’re looking into something more permanent. You can look into other options, such as leasing a forklift. By going with a lease, you can usually start out at the lowest costs and increase your cash flow by spreading out the price over the life of the lease.
You can also renew a lease if you find that you will need more time with a forklift. In most contracts, you can swap out a forklift for another model should you encounter any problems. Lastly, because you are leasing, maintenance falls on the supplier!
Buying
An ideal option is to own a forklift. By owning your own forklift, you can pay off the equipment in no time, and it’s rightfully yours! Needless to say, you don’t have to worry about renewing a contract or paying a monthly bill for as long as the lease.
If you do decide to buy a forklift, you can look into new and improved features while making an investment. You can even purchase used equipment if you aren’t looking for anything specific. Most importantly, if you believe that you’ll need a forklift for daily use, making a purchase is your best choice.
Factors to Consider For Your Warehouse Forklift
When deciding to rent, lease, or buy a forklift, there are many factors to consider, such as:
- Company budget
- Outdoor jobs (rough terrains)
- Equipment flexibility
- Loading capacity and labor
Buying a forklift is an investment. Renting is your cheapest option. If you and your team are working outside for the majority of the workday, a forklift can help. Additionally, a forklift can easily be updated if your daily warehouse duties change. And, of course, if a loading truck can no longer take the weight of loading materials, there is where a forklift can take over and help with labor.
Get State-of-the-Art Equipment at Prana Machinery
When looking into forklifts and other equipment, it is important to go with a reliable forklift dealer to help you find exactly what you need. Prana Machinery is El Paso’s leading supplier for forklifts. When you’re ready to rent or purchase, we can help you! Contact us today at (915) 779-2711 to get started.