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NEW OR USED forklift
02 Aug 2019
NEW OR USED?

NEW OR USED?

It’s no surprise that a forklift is a key organ to any logistics, materials handling, or warehousing operation. In 2018, North America made up 18% of the Global Market for Materials Handling Equipment. In a separate survey, 56% of warehouse and distribution centers participants cited that they would be investing in forklifts and lift trucks in 2018. A common question asked by many operations analysts and decision makers is whether they should buy or rent a forklift. Like many things in life, it's not so simple, but ultimately comes down to how much it is going to be used and capital.

3 Benefits to Renting a Forklift

Rental prices across the country vary from region to region, but on a large-scale average, most 3,000 to 5,000 lbs. capacity forklifts cost about $750 - $1,000 a month.

  • Flexibility: If your operation has seasonal fluctuations, renting is the best for you. Mostly because you will only have to pay for the time you use it, which is almost in every case cheaper than buying a unit (and in consideration of maintenance costs).
  • Lower Initial Costs: Many businesses are entering new phases of growth in which demand may be unstable or capital is unavailable. If that is the case, renting offers a lower initial cost with the actual unit and its maintenance. Many forklift rental suppliers have maintenance built into the rental agreement.
  • Stay up-to-date with the Latest Model: Like cars, if staying up-to-date with the newest technology is important, then renting is your option. On average, companies that buy forklifts keep them for about 10,000 to over 20,000 hours (5-10 years) depending on the type of forklift.

3 Benefits to Buying a Forklift

Like rental prices, retail prices for forklift vary from region to region and model to model. A standard capacity electric warehouse forklift cost somewhere between $15,000 to $25,000 (without factoring in maintenance).

  • Daily Use, All Year Round: If a forklift is the magic to your daily operation, its suggested that you buy one. As stated above, forklifts stay with companies for about 5 - 10 years. In almost every case, the cost savings from buying a forklift outweighs the rental costs.
  • Asset to the Books: If you’re looking to add to your company's assets, a forklift’s lifespan makes it a good choice.
  • Easy Access: Having forklifts on site would make it easier to take on unexpected fluctuation in productivity. Immediate access also saves time by avoiding the entire rental process.

So, which is best for you? Just ask yourself, how much are you going to use it, and how flexible is your capital.

Forklift Supplier in Memphis

We offer a wide variety of forklift and other materials handling equipment. We also offer a unique forklift rental program called DeltaMax. Feel free to contact us with any questions or come visit us at one of our locations – Memphis, TN, Tupelo, MS, Jackson, TN, and Jonesboro, AR. Experts at each location are waiting to assist you with your specific needs!

Give us a call 800-624-9771!

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