When to Hire vs. Buy a Forklift: Making the Right Decision for Your Business
Forklifts are more than important for lots of businesses, from warehouses to construction sites. When getting one, you have to decide: should you hire or buy?
Both ways have good points, and the best choice depends on how much you’ll use it, how much money you have, and what your plans are. This will go over the good and bad of hiring versus buying a forklift, so you can pick what’s best for your work and your wallet.
When Hiring a Forklift is a Good Idea
Hiring is often the easiest way if you only need a forklift for a little while or if your needs change. Here are some times when hiring is a smarter decision:
1. Short-Term Projects
If your business gets busier at certain times—like during the holidays—hiring a forklift means you can get more equipment without spending too much money long-term.
You can learn more about Hire Services from Hannaman Material Handling here.
2. Testing New Equipment
Hiring lets you test things out before buying. If you’re thinking about a new forklift, hiring it for a short period helps you see how it works for you before you buy it.
3. When Cash Flow is Tight
Buying a forklift costs a lot upfront. Hiring can save you money for other things while still getting you the equipment you need.
4. Maintenance Included
Most forklift hires include servicing and fixes. This means less downtime and no worrying about repair costs, which is great if you’re a small business.
When Buying a Forklift is a Good Idea
While hiring is easy, owning a forklift can save you money in the long run if you use it consistently and often.
1. Consistent, Long-Term Use
If you need a forklift every day, buying it is worth it. Hiring every day or month will quickly cost more than buying.
Click here to learn more about Hannaman’s available products.
2. You’re in Charge
When you own, you decide how to use the equipment. You can pick add-ons and change things. You don’t have to worry about hiring rules or if something is available.
3. Buying an Asset
A forklift is something you can sell later. Even after using it for years, you can sell it or trade it in, which helps make up for the cost of buying it.
4. Lower Cost Over Time
For companies that have high Material Handling demand, buying is often cheaper. If you buy a forklift and take care of it, it’ll work well for years – helping you meet UK safety obligations under regulations like LOLER and PUWER, and ensuring compliance with HSE’s recommendations in “Managing Lift Trucks” guidance.
The Hidden Factor: Maintenance and Support
One mistake companies make is only thinking about the first cost. Whether you hire or buy, keeping your forklift in good shape is important.
At Hannaman Material Handling, we do both:
- Full maintenance support for hired fleets.
- Preventative maintenance plans for owned forklifts to reduce downtime and extend lifespan.
Learn more about what Hannaman have to offer you and your business here.
Hiring vs. Buying: Quick Comparison
| Hire | Buy | |
| Upfront Cost | Low | High |
| Flexibility | High | Moderate |
| Maintenance | Included in most contracts | Your responsibility (unless you use our service plans) |
| Best For | Short-term needs, seasonal peaks, trial runs | Daily use, long-term investment |
Making the Right Choice with Hannaman Material Handling
There’s no one answer for everyone. Hiring is good if you need something easy and short-term, but buying is better if you use forklifts every day.
At Hannaman Material Handling, we do both hire and sales, and we give good advice and service. We can figure out what your business needs and help you pick the best choice.
Explore our Forklift Hire Options or browse our Products to get started today.
Final Thoughts
Deciding between hiring and buying a forklift depends on your workload, your money, and what you plan to do. Think about the costs now and later—and remember to think about fixes—so you can pick something that helps your business grow.
If you’d like tailored advice, our experts are here to guide you every step of the way.
