Renting or Buying a Forklift: Which is Better for You

Forklifts are used to lift and move a large amount of materials and they are versatile tools used in different industries. If you need a forklift in Montreal, you need to decide whether to buy or rent one. Some companies who use forklifts decide not to buy forklifts even when they use them frequently. Here are some of the benefits of renting versus purchasing a forklift for your factory or logistics operations.

No high upfront payment

Forklifts may be rented for a short time or on a long-term basis. Many organizations avoid the large initial cost of buying a forklift by renting or leasing it instead for a pre-determined time frame. Even long-term forklift rentals in Ottawa may be arranged with a monthly or weekly price tag. Short-term pricing for renting a forklift may be a little higher, but most forklift companies have different price discounts and marketing campaigns that you can take advantage of if you ask for deals.

Buying a forklift adds maintenance costs and issues

After purchasing a forklift, you are fully responsible for the maintenance and associated costs. You also have to bear with the downtimes when the machine needs repair. Within a year, this could add up to a substantial amount of money. Additionally, as the forklift gets older, the cost of maintenance will rise significantly. That is why the additional cost of making temporary replacements and the cost of occassional downtimes must be added together when you are budgeting for your forklift.

Renting a forklift in Montreal requires no service costs

When you rent a forklift, the company providing the forklift is fully responsible for the cost of maintaining it. So the cost of servicing or replacing the forklift will not become a burden to you. If the rented forklift has operational faults, the forklift company will provide a replacement unit at no extra charge. Some companies that only rent forklifts have discovered that it is much easier to budget for the price of renting the forklift in Montreal, than to take care of the unexpected prices of unplanned maintenance after buying a forklift.

Safety and legal issues

Forklift owners must ensure that their forklifts are well-maintained and they comply with relevant safety regulations. Most accidents that involve forklifts are caused by neglecting regular maintenance and other poor working conditions. But, companies that offer forklift rentals in Ottawa will also be responsible for meeting certain safety requirements and some of the legal specifications, including providing certain protective equipment and meeting minimum operating standards.

Opportunity to Choose from a Variety of Models

Renting a forklift in Montreal gives you a certain amount of flexibility and opens you up to a wide range of options. You can easily select a smaller model for a project requiring a smaller capacity machine. Then you can rent a larger size when you have a higher demand or when you need a model with special features to complete a particular logistics project. But, if you buy a forklift, you are stuck with it and you will not be able to change it when you have special needs.

Those are some of the factors to consider when you need to use a forklift for your daily operations. If you are trying to decide whether to buy or rent a forklift, you should speak to a material handling expert who can offer professional advice.