Depending on your requirements purchasing could make more sense than leasing/renting. If for example, you need a machine to work one hour a week, leasing might not make sense. Purchase a machine. Likewise, purchasing might be the best option if: 

• There is no intention of changing the use and a machine will last 20 years
• You have the cash to purchase, or you need the asset on your books as capital equipment
• Your bank has this inexpensive line of credit for you to use or your owner simply prefers to own all capital equipment.

 Each company has its own unique policies and ways of looking at this decision.

Obtaining a brand new piece of equipment will offer peace-of-mind regarding maintenance costs to start. Unfortunately, as the equipment ages, maintenance costs may increase and your options to get newer equipment is limited.

Investing in a forklift or forklift fleet at the outset will also provide a greater return on investment later on. Should your operation requirements evolve, you can sell your equipment on and recoup some of the costs. Long-term rentals, on the other hand, demand higher monthly fees.

Renting a Forklift to generate Revenue

Renting and leasing are almost the same. Rentals are usually short term, a few weeks or months. One advantage to renting is that you can experiment with a machine.  If you are not sure of the dealer’s/owners response time to breakdowns, rent something for a few months and see how they respond to mechanical issues.  That experience can help you assess their capabilities.  Not sure if this “different” machine will be more productive?  Rent it for a few months and measure it against your existing forklifts.  Want to try a new method of picking?  Set up a temporary model and rent the appropriate equipment.  Use rentals to test your hypotheses.  

Peak periods are another reason to rent. you build up your business for any seasonal demand or fulfill the need to rent out the forklift Truck. To match this volume increase over this short term you may need to increase your fleet of forklifts. Return the rentals and save the cost of those machines for the next three-quarters of the year.

Renting equipment increases your flexibility.

Renting is usually more expensive.  The extra cost of a unit pays for the machines that sit idle but available (in the Owner’s warehouse waiting to be rented).  Another reason rentals cost more is because the cost of maintenance is included in the monthly rental fee.  

The biggest difference between leasing and renting is that, when renting, you probably lose the option to purchase the machine.  A rental machine usually must be returned to the dealer/Owner.