When you need a forklift for your business, one of the main considerations you’ll face will be whether to rent or buy.
Depending on your business model, both renting and buying a forklift have their benefits, but for this short article, we’ve picked out 5 of the key benefits of forklift rental.
Just like when you buy any vehicle, unless you pay for it outright, you’ll often need to lay down a deposit when purchasing a forklift. Then, when you factor in insurance costs and a maintenance plan, your initial outlay starts to increase.
When you rent a forklift however, you don’t have a huge deposit to pay, and your insurance and maintenance costs, including servicing and inspections etc., will all be covered as part of the rental price.
Your forklift will be put through its paces, therefore to keep it running safely and performing at its best, it will need regular maintenance and repairs, which can be costly and often come at a time when finances are tight.
When renting a forklift however, all your maintenance and repair costs will be taken care of in the rental price. Additionally, if your forklift is out of commission due to maintenance or repairs, most forklift rental companies will provide a replacement forklift until this is complete.
Depending on your forklift rental contract, when you rent a forklift you’ll have the option to upgrade at any point, meaning that you can always have the most up-to-date model without any of the high initial costs. So, if you’re looking to use the latest forklift model in the line of Jungheinrich forklifts, Aisle Master forklifts, or Clark forklifts etc. at a lower cost, forklift rental offers the perfect solution, especially for small businesses.
Despite a forklift being an essential part of many business models, not all businesses have the storage space or secure storage facility for the forklift, a fact which has to be taken into consideration when buying a new forklift or used forklift.
With forklift rental however, storage and the cost of acquiring secure storage space doesn’t have to be a problem, as you can simply return the forklift once the job is complete, even if it was just for the day.
Because it’s classed as a trading expense, the rental of your forklift truck can ‘usually’ be deducted from your taxable income, but as with any tax matters, it’s always best to ask HMRC or a tax expert, prior to renting your forklift.
If you’re looking for a forklift specialist, contact Beds & Bucks Forktrucks Ltd today. We have over 30 years’ experience in the materials handling industry, providing new forklifts and used forklifts, forklift rental, forklift refurbishing, and forklift maintenance and repairs.
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