Many people think the only reason to rent a forklift is to meet a temporary need. For example:
The examples above are the most common, but there are other reasons to rent a forklift. A short or medium-term forklift rental can make your business more profitable in the long run.
#1 Avoid Buyer’s Remorse
Renting gives you enough time to thoroughly evaluate a piece of equipment before you spend many thousands of dollars. Is it the right capacity? Does new technology significantly improve productivity? Do operators show up early so they can call dibs on the new rental forklift or (to use a sports analogy) is it the last one picked for the team?
Many buyers are too quick to commit. This is risky, especially if you’re buying something for a specific job. Renting allows you to make an informed buying decision and avoid spending hard-earned money on equipment that rarely gets used.
#2 Conserve Capital
This second reason may seem strange because renting equipment long-term is more expensive than buying or leasing. The key word here is long-term.
Many experienced managers are surprised when we show them a comparison of the monthly cost to rent versus owning a forklift.
When you rent a forklift, you get everything for a predictable monthly rate. There are no surprise expenses.
A forklift rental also gives you the flexibility to cut costs during slow periods. Why make monthly payments on equipment you’re not using? Would you pay a warehouse associate to stand around and do nothing? No, you’d send them home.
Take a Decision-Making Shortcut
There’s a magic number that can help you quickly decide whether to buy or rent a forklift: the utilization ratio. Generally speaking, if the equipment will get used at least 60% of the time (24 hours in a 40 hour work week), it makes sense to buy. If the utilization rate is less than 60%, renting may save you money.
We can help you calculate your utilization rate and compare financing options.
Contact a forklift expert at The Lilly Company online or by phone at 800-238-3006.
#3 Lower Upfront Cost, No Capital Financing
Renting allows businesses with limited credit or cash reserves to get the equipment they need. A forklift rental is also better for your balance sheet because it’s considered an expense, not a liability.
#4 Get the Equipment You Need, Where and When You Need It
The Lilly Company has a massive rental fleet. Whatever you need, forklifts, aerial lifts, yard trucks, we probably have it. If we don’t, we’ll get it for you.
We also deliver, which saves you the time and expense of moving equipment from one job site to another. Need to exchange equipment? No problem. The equipment comes to you when and where you need it.
Think of the last time you borrowed a friend’s truck or drove a rental car. You have to adjust the mirrors, figure out how the cruise control works, and where’s the darn button to open the gas tank door? Material handling equipment operators have the same issues with new equipment.
The Lilly Company has a massive forklift rental inventory including:
Our rental fleet includes other material handling equipment including aerial lifts, yard trucks and more. Rent by the day, week or month and get your equipment delivered fast.
The Lilly Company is an authorized forklift dealer for Toyota, Clark and Linde with used and new forklifts for sale in the Mid-South. Our experienced and friendly forklift experts will take the time to get to know your business and help you choose the right option.
Arkansas - Jonesboro
Alabama - Birmingham, Dothan, Irondale, Madison, Mobile, and Montgomery
Mississippi - Tupelo, and Richland
Tennessee - Jackson, Kingsport, Knoxville, and Memphis