Should you buy a new forklift, buy used or rent a forklift?
Companies often face the question of whether to buy a new truck, rent a truck or purchase a used truck. And many are now realising the effectiveness of adopting a ‘blended fleet’ – a mix of new, used and rented trucks. To help you make the right decision for your business, we have explored the benefits and key reasons why you may choose to buy new, hire, or opt for a used solution.
Buying a new forklift truck
Firstly, you own that forklift truck. A self-owned truck is therefore an asset on your balance sheet and you can do as you please, bringing you the peace of mind that there are no damages costs you can incur down the line – as long as all modifications that take place stay within the framework of the CE marking.
Buying a new forklift also allows you to have a truck with the latest technology and features available in the market. Technology that is often associated with workplace health and safety, typically leading to better productivity and output.
You can also add specific requirements and enhancements to the truck, making it unique and making sure it operates for how your business needs it.
Buying a used forklift truck
Many businesses automatically choose brand new forklift trucks when looking to purchase materials handling equipment. However, as more and more businesses realise, used forklift trucks provide a multitude of advantages.
Benefits of long-term rental
Long-term rental (LTR) is the preferred choice of many as an alternative to buying a forklift truck. Businesses are able to side-step the high initial cost and invest that capital on a different area of the business.
With technology within the trucking industry constantly evolving, you can easily upgrade to the newest technology when your lease expires without worrying about the devaluation of the truck.
Furthermore, monthly rental payments are often lower than loan payments, and you can set the pricing depending on the terms of your lease or rental agreement, allowing you to budget for a fixed monthly cost.
Opting to rent your forklift truck on a long-term contract will typically lower maintenance costs. When you choose LTR via Toyota we take care of all your service needs, meeting the highest levels of operational performance and uptime.
Should I choose short-term rental?
As opposed to long-term renting, short-term rental (STR) is a more flexible approach to hiring a forklift truck where we can support your more sudden needs – that could be for one day, a week, or several months.
STR is the immediate solution for temporary issues, such as:
- Providing as additional support during peak seasons
- When looking to reduce costs during off-season
- To trial a forklift truck and make sure it is the best fit for your business
- When a truck breaks down and you need a replacement quickly
- When you only require temporary use of a truck
- In case of uncertainty about the long-term need for a truck
- When customer demand suddenly increases
- To prepare for an upcoming event
- When moving or reorganising your operations
