New, Old, Or Renting A Forklift: Which Is Better?

A forklift reduces the time it takes to unload and load freight and other good. Moreover, it can reduce accidents and prevent injuries to employees. Instead of transporting goods manually, which is labor-intensive, a forklift can make operation easy.

If you require a forklift, there are generally three options for you: buying a new forklift, buying a used forklift, or renting a forklift. The choice depends on factors such as your budget, your operational requirements, and the experience level of the staff.

Read on to understand the pros and cons of each of these options:

Buying a new forklift

One obvious factor that prevents people from buying a forklift is the cost. Despite this, buying a new forklift is an investment that pays in the long run, from reducing accidents to improving efficiency. If you need a forklift for a long time, it is better to buy one rather than renting it.

Must Read : How to Prevent 5 Common Forklift Accidents

Pros:

• New forklifts can operate for longer hours.
• The warranty on a forklift is for one to three years.
• The forklift is for heavy usage, so you don’t have to worry much about excessive wear and tear.
• You can customize it according to the user’s preference.
• New forklifts have the latest features on the vehicle.

Cons:

• The cost of the forklift is high.
• The staff requires training to operate the forklift.
• You have to pay out of your pocket for repair and maintenance.

Buying a used forklift

Apart from the obvious advantage of saving cost, buying a used forklift pays off when you need a forklift for medium use.

Pros:

• The cost of the forklift is less than if you were to buy it. Hence, you end up saving money.
• You can get a used forklift quickly.

Cons:

• The cost of repair and maintenance is higher since the forklift has already been in use.
• The staff requires training to operate the forklift.
• The parts of an older forklift may not be easily available.
• The features of a used forklift are less compared to that of a new one.
• It has a short warranty than that for a new forklift.

Renting a forklift

Sometimes, it is better to rent a forklift instead of buying one. Renting is a good option if you require the lift for a brief amount of time: a couple of days or a week. For example, your warehouse received its monthly consignment, which requires unloading. In this case, renting is a good option because the warehouse only requires the forklift for a couple of days at most.

Pros:

• There is no cost for repair and maintenance since the renting company covers it.
• There is no restriction on the length of time for which you want to rent the forklift.
• The upfront cost of renting a forklift is less.

Cons:

• You have to pay the rent on a monthly or weekly basis, which is expensive in the long run.

Conclusion

Whether you choose to buy a forklift or rent one, the choice depends on the circumstances. However, one should be aware of the advantages and disadvantages in each case. 

Visit triwestforklifts.com.au for buying or renting forklifts.