Lease, Rent or Buy Your Forklift: What to Consider
Consider your equipment options. Find out whether a rental, Toyota forklift lease, or buying your own machine is the best decision for your business.
A forklift is expensive. However, it can also revolutionize your warehouse system, provide your staff with the tools they need to boost productivity at work, and essentially improve your bottom line.
Getting that piece of equipment, though, might need a bit of a creative workaround like getting a Toyota forklift lease or opting for a rental. However, there are also second-hand options that make it possible for you to own your own forklift.
If you can’t decide which one is best for you, here are a few considerations to help you-
Start with Your Needs
How often will you use the equipment? If you only need it during seasonal months, when sales are at a peak, then you can live with rental equipment. If you need it longer than a few days, then go for a lease. However, if you need the machine every day, think about getting your own. There are plenty of basic models and second-hand options that provide you with budget-friendly choices.
Beware of Overuse
One problem with rentals, leases, or even second-hand options is that some are in bad shape. Take the time to check the condition of the equipment before you agree to anything.
Check Your Budget
Buying second-hand options can still cost you a bundle, though, especially if you’re trying to build a business from the ground up. If your budget is a consideration, then you’ll be better off choosing between a rental and lease option. The good thing about choosing either one is that you can switch from one model to another. By the time your business starts turning a profit and you get enough funds to buy much-needed equipment, the lease or rental options would have helped you decide which machine is right for your needs.
Test New Models
If you’re set on owning a forklift, give yourself time to test several models through rentals and leases. That arrangement will allow you and your crew to experiment with several models. That way, you can identify problems and issues with certain models. When the lease or rental is up, you’ll know what machine is going to be worth your money.
Ask About the Delivery
Consider the ease with which you can get the machine. Some companies make it easy to deliver the equipment since they have systems and teams in place as well as long-standing experience in the industry. Not all companies have that, though, so be careful when you pick a distributor. Ask questions about transportation and delivery options.
Look for Reputable Options
Check the firm’s reputation. Whether you are going for a rental, lease or buying the forklift, dig into the company’s background. Is there a lot of negative feedback about the business? Is there a ton of complaints? What comments stand out? What kind of problems did the clients mention? While it’s normal for a business to have a few negative comments—no one can please everybody after all—if there are too many negative reviews, that’s a red flag.