Are you better off buying a forklift or renting one for your business in Singapore?
Buying and/or renting material-handling equipment can get costly, so it's vital to gather all the necessary information before deciding which is the better choice for your business.
Assessing your business's specific needs and financial situation will help determine which option is more suitable, and we’re here to help spell these considerations out for you!
Here are the top factors to consider if you should buy or rent forklifts.
You should buy forklifts if you:
• Expect a steady number of hours the equipment will be in operation throughout the year and for many years to come.
• Have enough money to buy the forklift without causing cash flow problems.
• Are ready to cover the costs of maintaining the equipment for its entire lifespan.
Used forklift for rent on display inside the Scantruck workshop
You should rent forklifts if:
• You don't have enough funds to cover the complete cost of owning the equipment.
• Operations experience occasional surges, such as during seasons or short-term projects that require extra equipment.
• You need a temporary solution to meet your current equipment needs, without foreseeing its use in future projects.
• You require an immediate replacement because your existing equipment has broken down.
Again, determining whether to buy or rent a forklift hinges on various crucial factors specific to your business's operations and financial standing. Understanding your business's forklift usage frequency, maintenance expenses, and long-term needs is key to making an informed decision.
Different Used forklifts on display