You might wonder when you rent a forklift if the rental firm gouges you or if you paid the going rate. Most individuals rarely rent forklifts, so it is not common knowledge. So, how much does it cost to rent a forklift?
Searching online you can find a wide range of forklift rental prices ranging from $100 to $700 per day. You might purchase a better deal by renting it by the week. That could cost between $250 to $2,000.
Why the wide range? Forklifts vary in size and capabilities. The larger capacity machines simply cost more money. You also drive up the price when you need add-ons or attachments.
Location matters, too. Renting in the city where many companies compete for your rental and forklifts abound can fetch a lower price. You could pay much more to rent in a rural location, since fewer companies rent the forklifts and that means renters compete for the opportunity to use the machine rather than the companies needing to compete for business.
Rentals also cost more money when you live in areas with a higher cost of living. You could cross a state line to rent cheaper in some cases.
If you only need a rental for one day, then you pay a higher rate than if you needed it for a month. Depending on the forklift’s capacity and your location, a monthly rental could range from $750 to $4500 per month.
You might be surprised to find out that whether you pick up the forklift yourself or you have it delivered, you still pay fees. Either way, add on a fee of about $100 to your rental cost.
You also still pay for fuel for the forklift. Most available machines use internal combustion engines, so you can use a high-grade gas. You could also rent a diesel forklift and pay for diesel fuel.
You could purchase a forklift for between $15,000 and $100,000 for a new one. Buying used nets you serious savings of about 40 percent. You could purchase a used forklift for about $5,000. That could nab you a forklift for just $500 more than a month’s rental.
If you need the machine for your business, then it makes sense to buy it, as long as you would use it each month. If you only need it for a one-time project, you should rent.
Idaho Equipment Rentals (IER) provides you a database of equipment rental options throughout the state. You can compare rates on the site to find the best rental deal for yourself. IER does not rent the equipment. It collates information from many rental companies to help you find the most accessible, most affordable rate in Idaho on the forklift you need for your business or personal project.
Ask if any attachments or add-ons automatically come with your rental. You could get much more use out of the rental by using these items.
Renting provides you with the equipment with no commitment. If you own a seasonal business, you can use the rental forklift only when you need it. If you land a job that requires a higher capacity machine than usual, you simply rent it instead.
You only need insurance on the equipment while you rent it. This means you save yourself insurance premiums on auto/equipment insurance during the rest of the year.
You save yourself the maintenance money by taking care of the forklift all year long by renting it for just a few hours or weeks if you need it. Forklifts, like any automotive vehicle, need year-round care whether you drive them or not.
To get the most out of your forklift rental, before you sign the contract, assess the capacity, size, and type of forklift you need. You determine this based on the type and weight of materials you need to transport. How high you need to lift the items, the conditions under which you will operate the forklift, and any attachments and/or safety gear you will need also play a part in what you will rent and what you will spend.
Ask about overtime rentals before you sign the contract, too. Will the rental company let you extend your rental?
Also, ask about service plans and if you can obtain insurance for the equipment through the rental company. These will also cost you extra. The service plans vary in cost by company, but equipment rental insurance can cost a little less than $40 per month.
Explore the IER website to learn which companies rent forklifts in your area and which option provides you the most affordable rates. Let us help you land a great deal on your next forklift rental.