The Benefits of Buying Your Own Forklifts

The Benefits of Buying Your Own Forklifts
  • Opening Intro -

    There is a certain liberty that comes with the ability to invest in your own equipment.

    Having your own business doesn’t require that you have your own equipment, but it’s always a positive addition to the workplace.

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When you have assets on hand that you can use at a moment’s notice, you have more control over the amount of work that gets done on any given day. You may have to maintain and upkeep your things, which can cost money, but just think about how much money you will save now that you don’t have to worry about renting equipment.

That is one of the largest trade-offs, but the benefits of buying your own forklifts are more significant than you might know.

Maintaining Your Own Equipment

The beauty of owning your own equipment is that you can manage it how you see fit. This means there’s no waiting around on the rental companies you are normally contracted under or waiting for someone else to repair your equipment.

You can work on the machine yourself and have it fixed in a timely fashion. This may also aid in reducing the costs of opening your own warehouse.

Tax Deductions on Your Rig

Under Section 179 of the IRS tax code, you are legally able to get a tax deduction on your equipment from the time that it was purchased. This comes as government aid for any kind of business-related equipment that might depreciate over time.

To take things a step further, you can also file a separate claim for additional refunding if your equipment hasn’t been performing up to your standards. So, you want to take full advantage of these deductions while they are still in place.

No Limit To Your Work

When you choose to rent from a rental company, you will typically be charged by the hour for your equipment usage. When you choose to own the equipment yourself, there is no limit to the amount of work you can get done.

You own the rigs, so you don’t need to worry about excess charges for using the equipment; it is yours to do with as you please.

When you rent equipment, you also have no idea how much mileage or wear and tear is on the equipment. It may have been cared for and kept in working condition, but this doesn’t detract from its age or how much work it has seen in its lifetime.

When you own your equipment, you will know exactly how old it is and how much it has been used.

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There are many benefits to buying your own forklifts, just as there are benefits to renting. Ultimately, it is up to you to review the pros and cons of each option and determine what works best for you and your business.

You may decide to rent certain pieces of equipment and buy others; the choice is entirely up to you.

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