Did you know that buying a forklift could cost you over $40,000?
Due to the high upfront cost and ongoing maintenance costs, people who only want to use a forklift one or two times might find it more cost-effective to hire a forklift instead of buying one.
Keep reading to find out more about hiring a forklift—including how to go about it and what the average forklift rental prices are.
How to Go About Renting a Forklift
Renting is a cheaper and easier way to obtain a forklift than buying your own. This is especially true for those who have a one-off home project, but how do you go about renting a forklift?
1. Think About What Type of Forklift You Need
Before looking into the different forklift rental options in your area, it’s a good idea to work out what you need it for.
Consider how much weight the forklift will be carrying. The average forklift has a weight capacity of around 5,000 lbs, or 2,268 kg. Think about the items the forklift will be carrying, will you need a special attachment to carry your things?
Next, consider the height you need to reach. Forklifts can vary in the height and weight capacity and it’s important for your safety to get one that meets your requirements.
Another thing to consider is the surface you’re using the forklift on. Different environments and surfaces require different types of forklifts.
Internal combustion (IC) forklifts are powered by gas, diesel fuel, or propane liquid and are better suited for large open indoor space and outdoor spaces. IC forklifts are great on tarmac, concrete, and gravel surfaces, however, they aren’t practical for confined spaces because of the exhaust gasses. Electric forklifts are better suited for confined spaces.
2. Work Out Your Budget
Rental prices of forklifts are often worked out on a daily or weekly basis. When working out your budget you should also consider how long the project will take and how long you’ll need the forklift for. This will help you to determine how many days or weeks you’ll need it for.
On top of the rental rate, you might want to think about operating costs such as fuel. Some rental companies will include fuel in the final price, however, others might give you a little to get started with or none.
Additional costs might include supplemental fees such as the service charge of drop-off and pickups of the forklift. If you need special attachments for your forklift, this will also increase your final price.
3. Find a Reputable Company
You’ll then need to find a reputable company that meets your needs. Do some research online and see who the best forklift rental companies are in your area. Ask your friends and family if they have any recommendations, or look online for customer reviews and see which companies are best.
Remember, a reputable company might not be the cheapest, but they’ll ensure that you have everything you need so you’re able to safely use the forklift.
Before giving your money over to the company, make sure you’ve read and fully understand the terms and conditions. If you aren’t sure about any of the requirements make sure you ask for them to clarify. Make sure you inspect the forklift and check it for any damage before you start using it, this will ensure that you can use it safely and that they can’t charge you for damages.
Forklift Rental Rates
The main question on everyone’s mind when renting a forklift is, “how much does it cost to rent a forklift?” The price of forklifts are often calculated daily or weekly, but they can also be calculated monthly.
Daily Rental Costs
To rent a forklift for a day it will cost you around $100-$150. This rate is for a 3,000 to 5,000 lbs forklift.
Larger forklifts will cost more. A 6,000 to 10,000 lb forklift capacity will cost you $150-$300 a day. While a 10,000 to 30,000 lb forklift will cost between $200-$700 a day.
Weekly Rental Costs
To rent a 3,000 to 5,000 lb forklift for a week it’ll cost you between $250-$350. A 6,000 to 10,000 lb forklift will cost between $350 and $700 for a week. While a 10,000 to 30,000 lb forklift will cost between $500 and $2,000 a week.
Monthly Rental Costs
The monthly costs of renting a 3,000 to 5,000 lb forklift are between $750 and $1,000. For a 6,000 to 10,000 lb forklift, the monthly cost will be between $1,000 and $2,000. Renting larger forklifts (10,000 to 30,000 lb capacity) on a monthly basis will cost between $1,500 and $4,500.
The above is a rough guide on the rental prices of forklifts, there are other factors that might increase or decrease the overall price. For example, where you’re renting the forklift, which company you choose, and any additional costs.
Common additional costs that you should consider in your budget include drop-off and pickup fees. These can cost between $50 and $100. Another common additional cost is the price of fuel (if you have to supply that).
Additionally, you might need to pay for operator training, if you’ve never used a forklift before.
Find out more about forklift rental prices and see if you can find your ideal forklift for your next home project.
Work Out Whether You Can Afford to Rent a Forklift With Our Forklift Rental Prices Guide
Before you go ahead and buy a forklift, why not save your money and rent one instead? Use our guide on forklift rental prices to work out how much it will cost you to hire a forklift and get your home project completed.
If you found this article insightful, be sure to check out some of our other blogs all about safety, security, and storage.