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Rental vs Lease vs Buy a Forklift: Which Option is Right for You?


Weighing up your options when it comes to getting a new forklift for your business? Don’t worry. At Triwest, we understand that choosing the right way to acquire a forklift can be challenging. Check out this blog from the team at Triwest to walk you through the pros and cons of different forklift options. Whether you’re looking for a rent-to-own forklift or are keen on exploring the options of a forklift lease and buying one, we’ve got you covered.

Forklift Rental: The Flexible Option

Forklift rental is perfect if you need a forklift for short-term projects or seasonal demands. Unlike leasing, which involves a longer-term commitment, renting only allows you to have a forklift on hand when needed. It’s also a great way to try different models before purchasing or leasing. Here’s why forklift renting might be the best bet for you:

  • No large upfront costs: Say goodbye to the hefty price tag of buying a new forklift. Renting allows you to access the equipment you need without breaking the bank.
  • Minimal maintenance: Repairs and upkeep? Leave that to us. With forklift rental, you can focus on your operations while we manage the maintenance.
  • Wide range of options: Whether you need a forklift for rent for a specific project or a seasonal rush, we have various forklift hire options in Melbourne to suit your exact needs.
  • Flexibility: Rent for a day, a week, or a month – whatever works best for your business. With forklift renting, you can choose the rental period that fits your timeline.
  • Try before you buy: Not sure which forklift is right for you? Renting allows you to test out different models before making a long-term commitment.

Lease a Forklift: The Middle Ground

Forklift leasing offers a compromise between renting and buying. You get access to a newer model with predictable monthly payments, often with maintenance included. It’s like a long-term rental agreement but with added benefits.

  • Smaller Payments, Happier Wallet: Spread out the cost over time with manageable monthly payments that won’t strain your cash flow. Leasing often offers lower monthly costs than buying, making it a budget-friendly option for businesses of all sizes. Consider an electric forklift lease for an eco-friendly and cost-effective option.
  • Stay Ahead of the Curve: Get your hands on the newest forklift models and cutting-edge technology without the commitment of buying. Leasing allows you to easily upgrade to the latest models when your lease term is up, ensuring your fleet is always equipped with the best tools for the job.
  • Tax-Time Treats: Depending on your financial situation, forklift lease payments may be tax-deductible, potentially saving you money come tax season.
  • Maintenance Made Easy: Wave goodbye to unexpected repair bills. Most forklift leasing agreements include maintenance, so you can focus on running your business, not fixing your equipment.
  • Flexibility: If your business needs change, leasing allows you to adjust your fleet size or upgrade to a different model at the end of your lease term. It’s a flexible solution that adapts to your evolving requirements.

Buying a Forklift: Long-Term Investment

Buying a forklift is the best option for businesses that need a reliable workhorse daily. It’s a big decision, giving you complete ownership and control over your equipment.

  • Own It Your Way: Customise it, modify it, paint it your favourite colour – the possibilities are endless. You have complete control over how you use and maintain it.
  • Equity Builder: A forklift for sale is more than just a tool; it’s an asset that can increase in value over time. When you’re ready to upgrade or retire your forklift, you can sell it and recoup some of your investment.
  • No More Monthly Payments: Once it’s paid off, it’s all yours – no more monthly fees or lease agreements. Enjoy the peace of mind that comes with owning your equipment outright.
  • Choose Your Weapon: Whether you need a powerful diesel model for outdoor work or a nimble electric forklift for indoor use, buying allows you to select the perfect fit for your specific needs.
  • Tax Benefits: Depending on your location and circumstances, you may be eligible for tax deductions or depreciation when purchasing your forklift. It’s always worth checking with your accountant for potential tax advantages.

Which Forklift Option is the Best?

The best option for your business depends on your specific needs and budget. Consider the following:

  • Timeframe: How long do you need the forklift for? If it’s a short-term gig, renting is the clear winner. If you need a long-term workhorse, leasing or buying is the better option.
  • Budget: How much are you willing to spend upfront? Renting is the most budget-friendly option while buying requires a larger initial investment. If you’re looking for a middle ground, leasing offers predictable monthly payments.
  • Need for Speed and Tech: Do you need the latest and greatest features? If so, leasing or buying a new forklift for sale might be the way to go. But if you’re happy with a reliable workhorse, a used forklift for sale could save you a pretty penny.
  • Maintenance: Not a fan of getting your hands dirty? Forklift renting and leasing often include maintenance as part of the deal. But if you’re happy to handle repairs yourself, buying might be more your style.
  • Usage: How often will you use the forklift? Buying might offer the best value in the long run if it’s a daily workhorse. But if you only need it occasionally, renting or leasing could be a more cost-effective solution.

Get Top-notch Forklifts in Melbourne at Triwest

Need a forklift in Melbourne or regional Victoria? Triwest is a leading supplier of top-performing forklifts that customers confidently look to. With over 40 years of experience in the industry, we’re a trusted, local name, and we only work with the best manufacturing brands. If you’re ready to invest in a brand-new workhorse for your fleet, our selection of new forklifts boasts the latest models from leading brands, ensuring you get the best quality and cutting-edge features. Our used forklifts are the perfect fit for those seeking reliable performance without breaking the bank. Each forklift undergoes a thorough inspection and service, guaranteeing a quality machine at an unbeatable value. Need a forklift for a short-term project or seasonal rush? Our flexible forklift hire service provides you with various models to tackle any job. Whether you’re after a brand-new model or a reliable used option, or simply need a forklift for rent for a short period, we have the solution.

Get in touch with our friendly team to rent or buy forklifts that will never let you down. Call today on 1800 874 937 or complete a contact form and we’ll get back to you as soon as possible.


At Triwest Forklifts, we have provided comprehensive material handling solutions to Melbourne based business for over 40 years. We would love to have you join our growing team!