Ask Anything: Should I Rent or Buy Forklift Batteries?

A customer recently asked us: “We need more battery capacity to get through peak season, but I don't want to invest in batteries we may not need later. Should I buy the lowest-priced used batteries I can find, or is there a better option?”

It's a challenge we know many operations face. Busy seasons bring higher volumes, longer shifts and more demands on your forklift fleet. The batteries that keep up just fine during normal operations may suddenly struggle to meet increased demand.

PowRparts is introducing a new forklift battery rental program, giving customers another option when their need for additional power is temporary.

When Does Renting Forklift Batteries Make Financial Sense?

If your need is temporary is a low-cost option to purchasing another battery.

You may be experiencing peak season, capacity expansion, or adding an additional shift.  Regardless of the reason, your forklifts are operating more hours than before, and they need to be powered appropriately. Purchasing batteries to support a temporary increase hits you with a bill you may not be expecting and excess equipment when operations return to normal.

Renting allows you to add battery capacity when you need it without making the same long-term investment.

Before deciding whether to rent or buy, ask yourself a few financial questions:

• How long will I need the additional battery capacity?
  Look beyond today's demand. If the additional capacity will only be needed for a few weeks or months, compare the total rental cost for that period against the purchase price rather than comparing only monthly rental cost versus battery price.
• What will this battery be worth to my operation after the immediate need is over?
  A purchased battery makes more financial sense if it will continue to be used regularly. If it is likely to sit idle after peak season, you're paying for capacity you aren't using.
• Am I comparing purchase price or total cost of ownership?
  Finding the lowest-priced used battery can be tempting, especially for a temporary need. But purchase price alone doesn't account for remaining battery life, maintenance, performance, compatibility or the cost of an unexpected failure.
• What is downtime worth to my operation?
  An inexpensive battery isn't inexpensive if poor performance leaves a forklift unavailable during your busiest period. Consider labor, productivity and throughput alongside the price of the battery itself.
• Do I want to use capital for a temporary capacity need?
  If increased demand is short-lived, consider whether that money would be better preserved for equipment or investments the operation will need long term.

The cheapest option and the lowest-cost option aren't always the same thing. The right decision depends on how long you need the battery, how consistently it will be used and what happens to that investment when the immediate need is over.

So, Should You Rent or Buy Your Forklift Batteries?

There isn’t one right answer. If the battery will become a productive part of your fleet for years to come, purchasing can be a smart long-term investment. But when the additional demand has a defined end date, the math may look different.

That’s why PowRparts is introducing battery rentals as an option. The program gives you the flexibility to add capacity without committing to a purchase when you’re not sure you’ll need the battery long term.

The goal isn’t to make renting the answer for everyone. It’s to give you another way to get the battery capacity you need without forcing a temporary problem into a permanent purchase.

If renting sounds like it could fit your operation, explore the PowRparts Battery Rental FAQ for details, to browse available equipment, and to decide if renting is the right solution for you.

With any other questions or inquires reach out to sales@powRparts.com.