If you have a long-term need, but are not ready to commit to purchasing forklift equipment, a Rental Purchase Option (RPO) is a solution for your company. A Rental Purchase Option allows your company to put portions of your monthly rental payment toward the purchase of the equipment, but doesn’t commit you to the acquisition.
When a RPO Is Your Better Option
Try it before you buy it
When you have uncertainty about the forklift handling your application, a RPO gives your operators an opportunity to use the unit while handling your product. This is especially advantageous when the materials and loads vary.
If your company has plans to update the forklift fleet and is considering a new equipment manufacturer, a RPO gives the operators hands-on experience with the lift. In addition to gaining a comfort level with the forklift, operators can provide feedback on the operation of the unit.
Money isn’t currently budgeted
Because forklift equipment is a large investment, oftentimes companies budget for the expense. If you need equipment before budget funds are secured, a RPO helps to get the unit to your facility prior to the sometimes lengthy approval process. Rental rates can be paid on a monthly basis and the term can be as short as 30 days.
Having the forklift as a RPO also helps the budget in regards to maintenance. While your company is paying the monthly rental rate, basic maintenance and breakdown repairs are handled by the vendor.
Spike in business
If your company experiences increased business, you may doubt the production level will continue long-term. However, if the short-term forklift need turns permanent, a RPO can significantly reduce the acquisition cost by applying a portion of the rent toward the forklift that has proven itself in your application.
Want to learn more about placing a forklift on a Rental Purchase Option (RPO)? Contact ProLift for more information.