By 2032, the forklift industry will grow by 50%, which shows how many businesses rely on forklifts to operate.
Renting a forklift has various benefits, from being cost-effective to its tax advantages. But if you’ve never rented a forklift, you may not know how to strike the best deal for your situation.
Sounds like you? Luckily, we’ve got you covered. Here’s how to save while getting a forklift on rent.
Benefits of Renting Forklifts
If you’re on the fence about the renting vs owning a forklift debate, understand how rentals benefit your company.
Because you needn’t buy a new forklift, which sets you back between $20,000 to $40,000, you can used the saved overhead costs for more important areas of your business. Plus, you may not need a forklift permanently, so renting forklifts is a no-brainer.
Outline Your Needs
The first step is understanding the type of forklift you need. You may, for example, want a forklift with an electric motor and a narrow profile, so it’s easier to move between aisles for stocking. On the flip side, your business may need a forklift with large tires to tackle rough terrain.
Know the Factors that Affect Rental Rates
Many businesses don’t realize the factors that affect the forklift rental rate. Unless you’re renting an electric forklift, you must pay for fuel and return it to the company in full. Most machines accept LPG, gasoline, or diesel.
An obvious cost will be how long you’re renting the forklift. If you need the forklift for an extended period, tell the company and you can likely strike a great deal. But if you rent out the forklift and need extra time, it may be more expensive and you’ll be charged overtime charges.
Businesses should be mindful of where they’re using the forklift. Rental companies will charge more if you return the machine in a damaged or dirty condition, so wash it and ensure it’s in pristine condition.
Shop Around
Anyone in charge of business operations knows the importance of shopping around. Unlike buying a forklift, you will find a range of deals and models to suit your budget. Make sure you look at additional charges and check that the rental agreement includes essentials like insurance coverage.
Negotiate
If you’re set on cost reduction, negotiate with the forklift rental company. Negotiating can be overwhelming, so be prepared by knowing what you want from the deal and never accepting the first offer. You should also ask for a deal if you’re renting long-term, even if it’s 5%, it will still slash costs.
Return Forklifts on Time
You’ll be surprised how many businesses forget to return the forklift rental straightaway. As a result, you end up paying for unused machinery, which cuts into your business expenses. Instead, return the forklift on the agreed date.
Get a Forklift on Rent Today
To find an affordable forklift on rent, shop around and negotiate for a great deal.
At Superior Industrial Products, we offer businesses forklift rentals from the best manufacturers. If you need one, we’d love to hear from you. Contact us today and we’ll find the perfect rental for you.