Are you looking to acquire a material handling reach truck fleet to increase your productivity or decrease your downtime when working in very narrow aisles? Choosing between which Raymond reach truck to buy can seem daunting, but it does not need to be a complicated task. It is important to develop an understanding of the type of reach truck for sale that will best match your organization’s financial and efficiency goals.
Many reach trucks are designed similarly, with cushion tires, high turning radiuses, and are electrically powered. The Raymond reach truck is a particularly adaptable and reliable machine that is equipped with advanced technology to maneuver smoothly and safely around your warehouse. Raymond developed a wide range of these very narrow aisle lifts that can lift small to large loads.
Reach trucks are expensive yet extremely useful pieces of equipment that can make a great financial impact on your facility in the long run by enhancing efficiencies and productivity. When you are considering how to finance your machine, specifically deciding between the choice to buy or rent a reach truck, there are multiple considerations you should examine. We have created an overview of the advantages and disadvantages of both financing solutions, originating from the cost implications, technology incentives, and the required maintenance of each solution. Our objective is to help you identify the details of buying or renting a Raymond reach truck.
Cost Implications
When acquiring a reach truck, you should treat the process as you would with any other type of investment. The first step to take is to determine how much you can spend. That being said, your organization’s decision will be rooted in a cost analysis – it will come down to which solution you can afford upfront and the subsequent costs after the acquisition, such as maintenance and repair costs. You should also ask yourself precisely the amount of time it will take you to recover those costs through work output.
Purchasing a reach truck outright and owning the machinery can prove to be a much higher initial cost than renting. If your business can afford a higher amount initially, then purchasing can be an option. If not, renting will be your best bet. The cost of renting a lift monthly will be generally stable. Furthermore, with renting, you will not need to pay maintenance costs because it is included in the Raymond reach truck price that you already will be paying for the lift.
Usage
Another key aspect to factor into the decision of whether to buy or rent your Raymond reach truck is the amount of time and type of work that the lift will be performing. If you will need the machine for only a few projects, then renting will be your go-to. On the other hand, if you will need the reach truck for jobs lasting months or years, or even daily tasks that you complete throughout the year, purchasing could be more appropriate.
Renting will allow you to account for variability in the amount and type of work your lift truck will complete, perhaps due to the changing seasonal demands. If you are thinking about increasing or downsizing the number of reach trucks you have in your inventory, renting provides flexibility since you do not hold the burden of owning the reach truck. Both long and short-term rentals exist. You can choose which agreement would best fit your organization's variability.
Technological Effects
When buying a reach truck, you are stuck with the technology, features, and capabilities of the model you bought. Renting will allow your business to continue to change as technology advances. If you own the reach truck, you will not experience the ease of examining the newer reach truck models and renting those once your lift rental agreement runs out.
Overview
The decision to purchase or rent a Raymond reach truck can be tricky. You could potentially save a lot of capital dollars if you chose to rent your lift, but can also experience long term cost benefits in buying the machine if you take the steps to properly maintain the reach truck. The material handling equipment experts at Meridian Leasing are here to help you with every step of the way. Our consultative approach to the equipment procurement process will guide you to the reach truck for sale that best meets your needs. To get started in buying or renting a reach truck, contact our material handling equipment specialist at +1 (855) 980-4578 or send an email to [email protected] for more details or to speak with an expert.