Are you wondering whether to rent or buy a forklift? If you need a short-term solution to handle a large project or increased demand or don't have the capital to invest in a new forklift, you might consider a rental. When you rent a forklift, you'll only pay for the equipment when you use it and can avoid high upfront costs.
Let's explore the many reasons to rent a forklift.
What Are the Benefits of Renting a Forklift?
Overall, renting a forklift provides flexibility that doesn't come with purchasing equipment. Benefits include:
- Immediately have the equipment you need: If your equipment breaks down, you'll need a replacement fast to avoid downtime. You can rent a forklift any time you need a backup and keep materials moving. At Medley Equipment, we offer same-day delivery on our forklift rentals to ensure you have what you need on time.
- Access the latest technology: When you rent a forklift, you'll have access to the latest models and newest technology. This means you can also expect dependable and efficient equipment that will help operators work quickly, comfortably and safely. At Medley, we provide recent models in excellent condition, and our experts examine each forklift before sending it to customers.
- Try before you buy: If you're considering purchasing a new forklift, you might want to try the equipment before making a big investment. Renting allows you to experience the equipment first-hand, so you can evaluate its features and ensure it meets your needs.
- Free up capital: A new forklift costs thousands of dollars. If you don't have room in your budget for buying equipment, or want to invest in other aspects of your business instead, consider renting. Renting allows you to continue growing your business without needing a huge amount of cash upfront.
- Meet increased demand: A short-term forklift rental can help you keep up with seasonal increases in demand without making a long-term investment. If your business needs the flexibility to accommodate demand fluctuations, renting might make more sense.
- Have more space: If you don't have the space to store a forklift year-round, renting may be the better option. When you rent, you only need room for the forklift while you have it, but you'll get that space back as soon as you return your rental.
- Save on maintenance costs: When you own a forklift, you're fully responsible for maintaining the equipment and ensuring it runs smoothly and safely. Equipment maintenance costs and repairs can add up fast and put a dent in your budget. On the other hand, when you rent a forklift, the rental company is responsible for maintenance and repairs. So, you'll save on maintenance-related costs when you rent, and you'll also save time since you won't have to perform maintenance tasks.
- Convert unused equipment into cash: If you keep forklifts on hand as backups, you can finally sell them if you decide to use rentals instead. You'll have more space and extra cash if you can sell unused equipment.
- Stay compliant: As mentioned above, your rental company is in charge of maintaining and repairing rental equipment. This also means they're responsible for ensuring equipment maintenance meets current safety standards. With a well-maintained forklift, you'll have one less thing to worry about regarding safety standards.
How Much Do Forklift Rentals Cost?
The cost to rent a forklift depends on various factors, like how long you'll have it and the type of equipment you choose. For example, a forklift rental that can lift 5,000 pounds will likely cost less than equipment that can lift 10,000 pounds. In either case, you'll only pay for the equipment during the rental period. At Medley, you can opt to rent a forklift by the day, week or season.
Since forklift rental costs vary, it's best to ask your rental company for a quote. We'll be happy to give you a quote on any of our forklift rentals, and we'll also recommend the best option for your budget.
If you'd like to start investing in a piece of equipment, we can help with that too. Our rentals come with rent-to-own options.
Are Forklift Rentals Tax-Deductible?
Forklift rental payments are often tax-deductible. Since a forklift rental is considered an operating expense, you can deduct the rental fee from your taxes.
What Types of Forklifts Can You Rent?
You can rent any type of forklift to meet your needs, from electric forklifts to diesel models. For example, Medley offers a vast selection of Yale and Hyster forklifts for rent, including:
- Electric forklifts: Electric forklifts run on batteries. They don't produce emissions and generally run quietly. Electric forklifts are commonly used inside warehouses.
- Liquid propane gas (LPG) forklifts: An LPG forklift has an internal combustion engine powered by liquid petroleum gas. Since LPG produces less carbon dioxide than diesel, LPG forklifts are an environmentally friendly option.
- Diesel forklifts: Diesel forklifts are efficient and run for a long time before needing more fuel. Due to emissions, diesel forklifts are meant for outdoor applications.
- Specialty forklifts: We also offer specialty forklifts for rent to help you conquer any task. For example, the Aisle-Master is designed to navigate very narrow warehouse aisles. If you need a forklift that can quickly move products across large sites, the COMBi-4WSL may be what you're looking for.
Not sure what you need? Let us know — we'll help you determine what material handling equipment will be the best for the job.
Find a Forklift Rental Near You
Your equipment needs may change with the season. Fortunately, that doesn't mean you have to buy a new forklift every time there's an increase in demand. Renting a forklift is a cost-effective, worry-free way to keep up with production needs and test equipment you may want to invest in later.
If you're searching for a quality, dependable forklift rental from a company that cares, reach out to us at Medley. Our team of experts looks forward to helping you select the best rental for your business needs and goals.
Do you need other types of industrial equipment to get the job done? We also offer aerial lifts, construction equipment and oilfield equipment for rent. You might think of Medley as your one-stop rental shop for all your material handling equipment needs.
With locations in Texas, Missouri, Oklahoma, New Mexico and Arkansas, we'd love to be your local material handling expert. Contact us today for more information or to request your rental!