The purchase of a forklift is a major investment for any company. Depending on options and fuel type, new lifts may range from $23,000 – $33,000. With the pressure of the economy and the need to increase the company’s bottom line, replacing or adding to your current forklift fleet may seem impossible. However, four common options can offer a solution.
There are many products through lending institutions that offer custom designed lease products for your individual business needs. Some of these options include:
If your equipment runs less than 4 hours each day, buying used may work for your application. Many used trucks arrive in the fleet when they are turned in for trade or off-lease. In addition to the initial cost savings, most units have been reconditioned by the dealer. Upgrades may include paint, tires and safety features. Warranties are often included or available for upgrade.
The electric pallet truck is often overlooked, but will save thousands of dollars on the purchase. For applications requiring only a horizontal movement of product, you should consider an EPT.
If you have a forklift need but do not have the money in the capital budget, try renting. Companies will consider discounting rental rates for long-term commitments depending on the application and usage.
A twist on renting equipment is a rental purchase option. Just as the name suggests, a new or used truck can be rented for a predetermined period and you have the option to purchase that truck while applying a portion of the rental payments.
The key to Rental Purchase Option’s is determining your long-term needs and the decision to own the truck.
If you have a question on this or any topic related to safety with your forklift, give our resident expert, Dave Bennet, a call or fill out the request form.