Should you hire your forklifts?

The benefits of forklift truck hire…

Have an agile warehouse fleet to meet demand

For any warehouse that sees seasonal peaks in demand, the size of the required vehicle fleet can fluctuate hugely from one month to the next. Hiring a forklift truck gives you the ability to choose what vehicle you need, when you need it and how long for. Short or long-term forklift truck hire is also a low-risk way of trying out new equipment or acquiring additional vehicles only when you need them. This means you don’t have to pay for vehicles that will be sitting idle or find yourself somewhat stuck with a vehicle you no longer want or need.

Low upfront costs for a forklift truck

One of the most appealing benefits of hiring a forklift truck – rather than buying it outright – is the absence of a large, upfront payment. Rental agreements operate on a cost per month or fixed term basis, so payments are spread over a period of time. Hiring a forklift will ensure that you don’t have to fork out (excuse the pun!) for a machine worth thousands of pounds in one go. For many businesses, it simply isn’t feasible to spend that much money on one machine, and some prefer smaller and more frequent payments to hire them. Depending on the length of time the forklift is hired for, hiring can work out cheaper for some businesses than buying outright.

Try before you buy to get the right forklift truck

There are lots of different types of forklift trucks on the market, all with different specs tailored to perform in certain environments and situations. Renting a forklift truck gives businesses the opportunity to try different machines and new technology without having to pay out for a vehicle or fleet of vehicles. If your forklift rental is a success, produces a more efficient operation and easier handling for your employees, then a decision can be made as to whether an outright purchase is the best option when your rental term is up. For fast-moving operations and ever-changing industries, there is no guarantee that the forklift you buy today is going to be geared for the job you do on one, two, three years’ time. Forklift rental enables you to adjust your vehicle fleet more dynamically.

You get reliability through warranty

Hiring a forklift means that you can also save money on maintenance and servicing costs, which can add up to a substantial amount of money over time, especially if unexpected repairs need to be carried out. Hiring a forklift often comes with warranty and support technicians that will be on hand to fix any problems that may occur, saving you and your workforce precious time.

Downsides of forklift truck hire…

You may have limits on truck usage

Forklift rental agreements may come with limitations on usage such as operating hours. The company leasing the truck needs to have a reusable asset handed back to them, not a truck that’s been run into the ground, so this approach makes sense. However, it does mean that you may could be forced to take the vehicle out of operation or pay penalties for exceeding your usage agreement.

You’ll be liable for any damages

Accidents do unfortunately happen in warehouses, and these can prove costly, not just in terms of operation time and lost hours, but you’ll find yourself with a bill for repairs if your rented forklift sustains damage. While a scratch or dent to an owned model may not be something you’re concerned with ordinarily, damage to bodywork that might otherwise go unchecked will need to be fixed at your expense before the truck is returned to the rental company.

There’s no company-owned asset

The biggest downside of leasing over purchasing – in any industry – is the lack of a tangible asset for all your outward payments. When you add up all your rental payments over the life of the lease, you may find that it’s more cost-effective to buy a used or new forklift outright rather than continue to lease it, particularly if you’re able to demonstrate an increase in saved costs due to increased productivity.