Forklifts get involved in 96,785 injuries per year. Assuming that one accident is equivalent to one forklift, that adds up to 1 in 10 forklifts.

These are heavy equipment, but people don’t take them seriously. Often, the cause of accidents is a poorly maintained unit. 

Accidents and injuries aside, downtimes lead to disruptions in your materials handling strategy. How do you ensure smooth operations at all times?

When you rent forklifts and equipment, you worry less. Keep reading to see why leasing should be a part of your strategy.

What is Your Materials Handling Strategy?

Your equipment needs depend on your materials handling strategy. Should you buy or lease?

Some companies buy more forklifts than they need, keeping extras around to cover for downtimes caused by mechanical failures. They also need a dedicated staff for servicing and maintaining the units.

The primary way of buying is through capital leases. The idea is you pay a monthly fee, but you get ownership at the end of the term.

Are these the best options for you? Again, it depends on your strategy. However, many companies find more value in renting instead of owning. 

Why Rent Forklift and Industrial Equipment?

Why should you rent forklift instead of owning it? When you look at the long-term costs, buying equipment is cheaper. However, it has more disadvantages.

Let’s look at the advantages of renting instead:

Lower Upfront Costs

Many companies can’t afford to buy a forklift outright, especially if they’re only using it for the short term. Instead of paying $15,000 to $30,000, a monthly payment of $1,000 is more manageable.

No Surprise Payments

In most cases, the monthly fee already includes maintenance for the unit. This option is usually more cost-effective, meaning you won’t have anything else to shoulder, as well.

When you own a fleet of forklifts, you will often encounter surprise payments. Aside from maintenance, a unit breaking down or a crucial part needing replacements can set you back considerably. 

No Long-Term Commitments

Leases can be as short as three years or as long as five years. Some providers even offer flex forklift leasing. It allows you to terminate the contract early when you don’t need it anymore.

The same goes for any other piece of equipment, such as pallet jacks or scissor lifts. You can pay for equipment leasing as long as you want, but there’s no long-term commitment.

Keeps Your Fleet Fresh

When you buy equipment, you own one unit for life. Whatever happens to it, you’re on the hook. You have to squeeze every value you can get out of it, which is why you might find forklifts over 30 years old in sites.

Forklift leasing doesn’t pose the same problem. As long as the company maintains the units properly, you can keep your fleet fresh and dependable.

Find the Best Leasing Company Now

The only way you can rent dependable equipment is through a reliable leasing company. Do you trust them to do proper maintenance on the units?

Rent forklifts and other equipment from a trustworthy company. Feel free to contact us today if you have any questions.