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To Hire Or To Buy?

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06

Jun

2014

To Hire Or To Buy?

When you are thinking of acquiring a forklift for your workplace, the big decision you need to take is that of whether to hire or buy a machine.

Buying a machine is the best option if you are going to need the equipment on a regular day to day basis, especially if you will not need to upgrade regularly to a later model or a top of the range machine. Although an immediate large outlay, you will then own it outright, and will not have to keep paying forklift hire charges. If you consider a secondhand forklift, the capital outlay need not be extreme, and used forklifts still have a number of good years left in them. Buy from a reputable company and the machine should come certified and serviced.

However, there are many advantages to hiring, especially if your use of the machine is sporadic or seasonal, for a planned amount of time or to cover an emergency. There is no point in owning a machine if it will sit idle for half the year. Hiring can be done by the day, week, month or year, and you will then be able to budget for a monthly rate, plus there will be no unexpected costs for repairs.

Your capital is not tied up in the business and can be used elsewhere, and you can hire upgraded models or models with varying functions as needed, giving flexibility when required.

You will not need to concern yourself with servicing and maintenance – the forklift hire company will deal with that and the relevant records needed. It will be their responsibility to make sure the machines are reliable, LOLER certified, and are compliant with current Health and Safety regulations.

Some companies offer alternatives such lease purchase, or hire, try, and buy, giving you ultimate ownership of the forklift, or will offer you interest free credit if you pay a large deposit. Check your contract before you go ahead – does it include warranties, servicing, transport costs and other hidden extras, or does it tie you down to a lengthy amount of time?

A good forklift hire company will advise on machinery to suit your budget and be flexible in arranging a deal to suit you. Getting your budget right, especially in a small business, can make or break it!

SolutionMHE are the South West’s leading forklift truck experts. With their years of experience in the forklift truck industry, SolutionMHE are able to provide expert advice and the highest quality equipment at the lowest prices.

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