How Much Does it Cost to Rent a Forklift?
Here are some insights on forklift rentals from Brian Eckert and his friends at www.costowl.com
i. If going without a forklift is not an option for your business but you are put off by the high cost of buying one, renting a forklift could be the perfect solution. Whether your forklift needs are short term, or you simply don't want to deal with the hassles and high costs of maintaining a lift truck, forklift rental might be the compromise you've been looking for. This buying guide will explore the advantages of forklift rental, go over what to consider before renting, and provide basic forklift rental pricing information.
ii. The Benefits of Renting a Forklift
1. For those interested in a short term or long-term forklift rental, there are many reasons why these options can be more appealing than forklift ownership, including:
a. No Long-Term Commitment: This is a particularly attractive option for companies with seasonal business that may need additional equipment only for certain portions of the year. In addition, you can rent a forklift to temporarily replace a piece of equipment that is out of service or because you need a machine with a higher capacity or reach for a particular job. Also, renting a forklift is the perfect way to try out a new piece of equipment before you make the considerable investment.
b. Saving Money: If you only need to run a forklift a few hours a day or to complete a particular job, buying just doesn't make financial sense. Instead of tying up large amounts of capital in a new forklift, you can direct your money to what really matters-growing the business.
c. Fewer Hassles: When you rent a forklift you are receiving a relatively new machine that has all the modern features that will keep employees happy and workplaces safe and efficient. And if anything goes wrong with the machine, you generally won't get stuck with the cost or hassles of maintenance.
iii. Things to Consider When Renting a Forklift
1. Before signing on the dotted line for a forklift rental, there are a number of factors that should be considered. Some things to think about pre-rental are:
a. Job-Specific Needs: This includes an assessment of the type, size, and weight of materials to be moved, how high they need to go, the conditions the forklift will operate in, and any optional equipment such as attachments and safety gear that might be necessary.
b. The Rental Length: Forklift rentals are typically available in daily, weekly, and monthly increments. Understanding how long you will need to rent the machine will help you choose the right contract length, and extended rentals can often save you money. Also keep in mind that most rental prices are based on specific daily, weekly, and monthly hourly allotments, and overtime could apply if you exceed them.
c. Service Plans/Insurance: Be sure to consider forklift rental service plans, including preventative or full maintenance plans, to protect your investment. Also understand that even with a maintenance plan, you will need your own insurance to cover your workers and place of business in the event that the rented forklift is involved in an accident.
iv. Average Forklift Rental Costs - Sample Prices
1. Now that we've covered the basics of forklift rental, it's time to look at how much it costs to rent a forklift. Because regional prices can vary significantly, the following forklift rental costs should only be considered a rough guide.
a. The cost to rent a forklift with a capacity of 3,000 to 5,000 lbs. might cost around $100-$150 per day, $250-$350 per week, and $750-$1,000 per month.
b. Renting a forklift with a capacity of 6,000 to 10,000 pounds costs approximately $150-$300 per day, $350-$700 per week, and $1,000 to $2,000 per month.
c. A forklift with a 10,000 to 30,000 pound capacity costs roughly $200-$700 per day, $500-$2,000 per week, and $1,500 to $4,500 per month to rent.
v. Actual prices paid by forklift rental customers from across the United States include:
1. $850, $900, $950, and $1,050 for one month.
2. $400 per month and $524 per month for 36 months.
3. Don't forget to factor in delivery and pick up fees, which could cost around $50 to $100 apiece.
