When equipping your warehouse, construction site, or facility with the right equipment, should you buy or lease? There are good reasons for doing both, but you’ll get some distinct advantages if you pursue a warehouse equipment rental, lift truck lease, forklift lease, electric pallet jack lease, or whatever other lease or rental you need for your warehouse.
If you’re interested in learning about some benefits of leasing used equipment rather than buying new or used equipment outright, read on.
No Need for Huge Outlay of Cash
One of the benefits of leasing used equipment is that you won’t have to make a large investment upfront. Instead of having a significant chunk of cash tied up in a depreciating asset, you can lease it at an affordable monthly rate over a few years. You’ll get full use of the used equipment even though you’ll pay a relatively low amount each month. You’ll likely generate more value from using the used equipment than you pay monthly to lease it.
You’ll have access to the equipment you need while still being able to maintain financial flexibility since more of your money will be in the bank. Many businesses fail because they stretch themselves too thin financially. You can avoid such a precarious financial situation by leasing over buying outright.
Another reason you’ll save money by leasing used equipment or pursuing a warehouse equipment rental is that the business leasing or renting the used equipment will be responsible for performing the maintenance and repairs. It will work with you to make provisions for any work needed to ensure that your equipment remains in great shape.
Grow Your Business Faster and More Responsibly
What would you do if you had to save up to purchase warehouse equipment? It might take months or years to pay outright for the equipment you need. Do you want to be under such constraints when you want to build your company? Odds are that the answer is “no.”
When you lease the required equipment, you won’t have to wait an unrealistically long time to get what you need. The great part of leasing is that you’ll benefit from the full use of quality used warehouse equipment while only paying a small fraction of what it’s worth monthly. You can responsibly grow your business since you won’t have to pay an arm and a leg.
Flexible Payment Terms
Another benefit of pursuing a forklift lease or a lift truck lease is that you can get flexible payment terms.
No two businesses are alike. Perhaps your line of business is seasonal, or your credit score isn’t the greatest. One of the benefits of renting used equipment is that the equipment provider can offer flexible payment terms to meet the needs of your business.
It’s not a one-size-fits-all approach. Flexible terms that meet your company’s needs will make leasing or renting used warehouse equipment as easy as 1-2-3. You can reach an agreement that doesn’t end up being stressful.
Another reason to lease necessary warehouse equipment is convenience. For instance, you might need to use a piece of equipment for a limited duration. Why would you want to go through the expense and hassle of buying equipment you know you’ll only need for a few months or even a few years? It would make more sense to rent or lease the equipment so that you don’t buy something you don’t need to own.
If you need an electric pallet jack for a short period, consider an electric pallet jack lease. You’ll save money and space if you think strategically about the warehouse equipment you need for the long and short haul. This can help inform decisions about when renting or buying used equipment makes sense.
Try It Out First
Another reason it can be an excellent idea to lease rather than buy is if you want to try out a piece of equipment before determining if you might want to buy one down the road. Leasing can be a relatively inexpensive way to test out warehouse equipment. If you lease it, use it throughout the lease, and are impressed with it, you might want to buy one later on. Of course, you might just want to renew the lease if you’d like to have better financial flexibility.
Possible Tax Savings
You might also be able to take advantage of tax savings if you lease warehouse equipment. It can come as income tax benefits that permit you to expense lease payments. Your best bet is to speak to an accountant specializing in tax situations to get a professional opinion.
Get Everything You Need at Once
What should you do if you need multiple types of warehouse equipment right away? It can be cost-prohibitive if you have to buy all of that equipment, but it’ll be more manageable to lease everything you need. You’ll be up and running in no time.
Get What You Need From HTX Material Handling
Are you looking for warehouse equipment for your facility? At HTX Material Handling, we offer a wide range of equipment, from pallet jacks to aerial lifts. We also have quality used equipment, so we can help your business. We have what you require, whether you need a lift truck, electric tug, aerial lift, or terminal tractor.
If you’re going to rent used warehouse equipment, you’ll want to work with a company you can trust. We have a reputation for offering reliable industrial equipment for purchase or rental. Since our goal is to meet the needs of your business, we offer versatility to accommodate what you’re looking for.
Our warehouse equipment, including our rentals, features the most up-to-date technology. Your best bet is to get in touch to see how we can meet your warehouse equipment rental needs. Get the ball rolling by contacting us for a confidential consultation about your business needs