Should I rent or buy a forklift

Ownership

These days in a competitive world it is vital to focus on your core business. The materials handling function and associated costs may seem clear on the surface, but invariably once examined, the picture often changes to an area that is profit draining.

There are a multitude of factors to consider such as:

1. Purchase costs
2. Financing
3. Repair costs
4. Downtime
5. Rental of replacement forklifts
6. Labour costs
7. Transport to repair facilities
8. Disposal of asset
9. Replacement
10. Economic viability
11. Fixed asset register
    a. Accounting compliancy