Many businesses are coming to see that long term forklift hire is one of the most intelligent investments a business can make. With a host of benefits to offer, both financial and practical, you should seriously consider long term forklift hire if your business uses a forklift. It doesn’t matter whether you use one or you have a whole fleet, long term hire could be the best solution for yo
What is long term forklift hire?
Forklift hire is, of course, the process of paying a monthly fee for the use of a forklift truck. Generally, that rental fee will also include a nod to ongoing maintenance as well, if a maintenance interval is going to fall within your hire period. Long term forklift hire specifically refers to the process of renting a forklift for a long period of time. This varies from business to business. Some businesses rent a forklift for 12 months, while others take out rental agreements that can last up to seven years, and sometimes longer.
What sort of businesses use long term forklift hire?
Many businesses use forklifts, if your business involves logistics and cargo loading/unloading you can use one. This can mean a cargo depot, a factory, a builder’s merchant, a construction company, a warehouse, and so many more besides. Forklifts make transporting and loading/unloading cargo fast and effective, so if that’s a core element of the way your business operates you’ll find one invaluable.
Why should you use long term forklift hire over buying?
You may wonder why if you’re committing your business to long term payments, you wouldn’t choose to purchase the forklift rather than merely renting it long term. It’s a valid question, but the reality of it is that renting actually makes much more financial sense.
Saving money with long term forklift hire
When you hire a forklift, the hire fee is not dictated by the purchase price of the forklift like it is when you make payments against actually purchasing it. That means you can get a better specified forklift for much less of a monthly payment by renting than you can if you choose to buy it yourself. This means your business gets the use of the forklift, without having to budget for its purchase price.
Long term forklift hire avoids depreciation
Forklifts are like any machine, whether it be a car, a van, or a truck, in as much as they begin depreciating the moment they are sold new and begin to get used. If you buy your forklift, when you’ve finished paying for it you’re left with an old and well-used forklift that has very little inherent value, that you have to trade in against a new one. With renting you have the option to upgrade, which means if a new model of forklift comes out you will have the option to improve it, without altering your payment schedule too much.
Saving maintenance costs using long term forklift hire
When you hire a forklift long term, you have to remember that it’s not really yours. While some people miss that sense of ownership, what it actually means is the forklift is the property of someone else – so it’s their responsibility to keep it maintained. Generally, a rental agreement will have a section that specifically covers the approach to maintenance. Most rental companies will include any ongoing scheduled maintenance costs as a part of their rental quote, with an option to extend cover for accidental damage or breakdown.
Long term forklift hire is a far more flexible proposition
Forklift hire allows you to better work your forklift usage around the way your business operates. If you find you no longer need the forklift halfway through your rental period, for example, you will likely have a clause in your contract that allows you to cut the rental short. You will almost certainly have to pay a fee for this, but that will be nothing compared to continuing to pay for a forklift you don’t use. You don’t get this when you choose to buy a forklift, if you no longer need it you’re stuck paying for it.
Long term forklift hire can be used as a future cash injection
With long term forklift hire you might even have the option for the forklift rental company to ‘buy back’ the forklift, which can mean an invaluable cash injection for your business. They can then refurbish it and hire it back to you at a more reasonable rate. This isn’t a service offered by every rental company, so it’s important to ask the details before you sign any rental agreement.
You can get long term forklift hire on new and used forklifts
Budgeting can be difficult, especially when you’re running a small business or you’re navigating some uncertain times economically. You want to maximise the potential of your investment, without investing any more than you need to. With that in mind, you should consider renting a used forklift. Every forklift offered for rental by the rental company will have been comprehensively checked before being made available, and if it has been rented by the company before you should have peace of mind that it has been properly maintained.
Is long term forklift hire the right investment for you?
No matter what kind of business you run, if you need to use a forklift as a part of your daily operations then long term forklift hire is one of the most affordable ways for you to do it. Whether you want to hire a brand new forklift or you want to save a little more money and hire a used one, you will get complete peace of mind regarding its reliability and usability without it costing the earth.
Running a business means never knowing what’s around the next corner. Long term forklift hire offers you invaluable flexibility when it comes to budgeting and serving the forklift requirements of your business – so consider investing in long term forklift hire today.
If you’d like to talk about your options for long term forklift hire, then get in touch with the team today.