The average forklift rental cost is much more affordable than the average purchasing cost in the short term. Whether you’re looking for a single machine or an entire fleet, a forklift purchase is a big investment for any business. A brand-new standard sit-down rider can sell in the $20,000 range. Used models may be closer to $15,000, but buying used isn’t a good fit for every operation.
Comparatively, forklift rental prices sound tempting. However, they add up over time. In reality, your budget is only one of the many factors to consider before deciding whether to buy or rent. Once you’ve made a decision, you’ll want to shop around before you settle. If a forklift rental fits your company’s needs, we’ll help you figure out just what to expect in terms of forklift rental cost.
Forklift rentals are typically available for a daily, weekly, or monthly rate. Forklift rental rates vary depending on the timeframe you choose.
There are lots of different factors at play when you’re deciding whether to buy or rent a forklift. We’ll go over some of the advantages and disadvantages of forklift rentals below. We’ll also cover typical forklift rental prices and show you how to compare pricing in your area online before you commit. Get information to help you make the best decision for your business.
Forklift Rentals
If you only need equipment on a short-term basis, a forklift rental may be just up your alley. Forklift rental costs will be lower than purchasing costs upfront. Plus, you won’t have to worry about servicing fees since rental companies typically include maintenance in forklift rental prices. Another advantage of a forklift rental is that you can access the newest equipment and latest technology, provided your dealer has them available. If your company’s priorities align with these benefits, a forklift rental is a good choice.
Before you start shopping, you’ll want to take a look at forklift rental prices to see if they make sense for your budget.
How Much Does It Cost to Rent a Forklift?
So, how much does it cost to rent a forklift? Here are some forklift rental cost averages by load capacity for standard sit-down riders:
3,000 to 5,000 lbs
- $100 – $150/day
- $250 – $350/week
- $750 – $1,000/month
6,000 to 10,000 lbs
- $150 – $300/day
- $350 – $700/week
- $1,000 – $2,000/month
10,000 to 30,000 lbs
- $200 – $700/day
- $500 – $2,000/week
- $1,500 – $4,500/month
In general, you’re looking at somewhere between $225 and $800 per day or $1,000 to $5,000 per month for a forklift rental. In contrast, purchasing a new forklift might cost you anywhere from $20,000 to over $100,000. While forklift rental rates may seem like a breeze compared to these purchase prices, they add up over time. Keep in mind that some companies charge delivery and pickup fees in addition to the initial forklift rental cost.
If you’re still not sure whether your usage makes more sense for purchase or rental, calculate the weekly or monthly cost of renting a forklift and do the same for a purchased vehicle during the same period of time. Keep in mind that resale value is a factor with purchased equipment.
If you’re wondering exactly how much does it cost to rent a forklift in your area, compare quotes on equipment from dealers near you with Forklift Inventory. Get forklift rental rates instantly.
Forklift Purchase
If you rely on lift trucks for multiple work shifts every single day, you’ll likely see a cost advantage to purchasing your own truck. You will need to have well-established credit, which can be a factor, especially for smaller businesses. Keep in mind that forklift financing is always an option. A flexible financing plan can help you pay for your equipment over time, saving money upfront.
Your machine will depreciate over time and require maintenance and repairs. However, you’ll make some of your money back if you re-sell your equipment at the end of its’ life. Even if you don’t sell it, you’ll be able to use it for many years until it can no longer operate. Another advantage to ownership is that you won’t have to rely on third-party companies to get ahold of your equipment. Production can run quickly and smoothly with your material handling equipment available at your fingertips.
Safety is also something to keep in mind. As equipment takes on some wear and tear, it will need to be replaced within its recommended life cycle to ensure safe operation for workers.
Compare Your Options
Still not sure what you need? Compare forklift rental prices and forklift purchasing prices today with Forklift Inventory. Using Forklift Inventory is the best way to find the equipment you’re looking for without wasting time or money comparing options. Request free quotes on forklifts for sale or rent from their site. Browse pricing on different forklifts without leaving your house.
Simply select the equipment you’re interested in purchasing or renting. Before you know it, you’ll receive forklift rental rates and purchase prices on a variety of verified equipment in your area.
If you’re not ready to start shopping, check out their free resources, including this helpful list of commonly asked forklift questions.
