Have you got a project that requires limited-term use of a forklift? You don’t have the capital required to buy one, nor will you need to in the long term. Thankfully, forklift hire is a plausible possibility.Not only is it much more affordable than buying short-term, but it’s also significantly less hassle, as you won’t need to worry about things like maintenance or depreciation.
If forklift hire sounds like the right choice for you, it’s important to understand how the rates are structured and how the contracts work so you can make the right decision.
What Factors Influence Forklift Hire Rates?
Forklift hire rates will vary according to the type of machine you choose – electric, diesel, or LPG – its lifting capacity, and how long you’ll need it. Newer models with higher lifting capacities tend to cost more.
Generally, the longer you rent for, the lower the daily costs will be, while the shorter the period you rent for, the more it will cost per day.
If you need extras like specialist attachments, this may add to the cost as well.
How Are Contracts Structured?
Most forklift hire contracts provide options such as daily, weekly, monthly or longer-term hires. The contracts also typically provide options for things like maintenance, servicing, downtime support, and the provision of a replacement machine in the event of a total breakdown.
Make sure you understand what your obligations are in terms of the arrangement before you sign, so that you don’t get caught unawares.
What Should You Check Before Signing?
You should review how many operating hours are included in the rate, how servicing is handled, who pays for breakdowns, and what happens if you need a replacement or if the machine doesn’t meet the specifications you expected.
Before you sign, you should also clarify whether transport to and from the site is included and whether the hire rate is fixed or subject to escalation (this is especially important when hiring a machine long term).
Also, ensure that you fully understand the terms of termination or extension of the contract.
When Would Long-Term Hire Make Sense?
If your business expects to be engaged in lifting operations for an extended period and you want your monthly costs to be predictable with minimal downtime and servicing handled for you, then a long-term hire contract might be appropriate.
However, if your need is seasonal or project-based, then a short-term hire might make more sense, as it offers more flexibility and a lower commitment.
If you’d like a tailored quote for forklift hire from First Forklifts, contact us today to discuss your needs.