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Purchasing a forklift isn’t your only option. Forklifts are an investment in your business, but with new models costing between £15,000 and £35,000+, can be a significant upfront cost.
With used machines, you can save up to 50% and more depending on age and condition. But even so, the upfront cost can be significant, and for many businesses, the investment simply isn’t viable at the time.
Hiring a forklift offers an effective alternative, giving you access to the machine you need, with costs built into your ongoing budget. There is however quite a lot to consider, as to whether that’s right for you.
Whether you need temporary cover or a longer term solution, this guide covers everything you need to know about hiring a forklift.
Top 3 things to be consider with forklift hire
There’s many positives to hiring a forklift, but also things important to consider.
1. Responsibility for damage
As you’d likely expect, you’re completely responsible for any damage you cause to the machine by misuse, negligence, or accident. Fair wear as part of hiring is expected, and you won’t be held responsible for this. The UKMHA 2026 fair wear guide covers this in greater detail, outlining what is and is not acceptable.
Accordingly, if you use the machine properly, you should have no problems, with many suppliers taking great effort to thoroughly inspect and maintain each machine for safety and reliability. This is something we’re dedicated to doing at Multy Lift, ensuring each machine we hire out delivers optimal performance.
Examples of damage you’d be responsible for should the machine typically includes:
Accidental Damage: Any bumps, scrapes, or structural damage caused while the machine is on your site.
Misuse: Damage resulting from overloading, incorrect use, or unqualified operators.
Theft or Vandalism: The cost of replacement or repair if the forklift is stolen or tampered with while in your care.
You can get insurance to cover you for this, ensuring, should anything go wrong, the cost of machine replacement or potentially expensive repairs is covered. You must provide your insurance prior to hiring a forklift truck.
2. Regular maintenance check
Whilst under your care, you should maintain the machine as you would your own, performing all health and daily safety checks. This doesn’t include repairing or replacing parts due to general wear and tear, as that is down to the supplier only.
Every safe operator should carry out checks before each shift, which should include inspecting:
- Exterior
- Critical mechanical systems
- Safety features – inside and outside the cab
It can vary from provider to provider, but as the hirer, you may be responsible for topping up oil and fuel levels. This is more likely to be the case with longer term contracts, with the machine expected to be returned to the supplier in the same standard as received.
3. Site suitability
Hiring the right type of forklift for your needs is essential. You need to make sure any machine you hire is capable of lifting what you need, and suited to your working environment, whether that’s rough outdoor terrain or navigating tight spaces indoors.
Choosing the wrong machine, or one with insufficient specifications for the job, risks damage you could be held liable for. Most suppliers are more than happy to sit down and help match you with the machine best suited to your requirements. It’s in both parties’ interests — you get the right equipment to get the job done effectively, and the supplier’s machines are used as intended, reducing the risk of damage.
How hiring a forklift compares to buying
Both hiring and buying a forklift are worth considering. The right choice however largely depends, and comes to your specific situation and how you operate.
Hiring
With hiring, you pay a monthly fee without ever owning the machine outright, giving you the flexibility to take it on for as short or as long as you need. One of the biggest advantages is that general wear and tear is covered by the supplier, so should anything go wrong through normal use, it’s typically not on you.
Pros
- No large upfront cost
- Flexibility to scale up or down depending on your needs
- Maintenance and repairs handled by the supplier
- Access to the latest, high-spec models
Cons
- Can work out more expensive over a long period of continuous use
- You never own the asset.
- You have to pay for damage, tyres, forks and other perishable items.
Buying
Purchasing a forklift means paying a larger sum upfront and taking on full responsibility for maintenance. You wouldn’t have to worry about building the cost of ongoing hire fees into your monthly expenses, and the machine will be entirely yours.
Pros
- More cost-effective for long-term, regular use
- Complete control over availability
- An asset with potential resale value
Cons
- High upfront cost
- Full responsibility for all maintenance and repairs
- Depreciates with age and use
- Switching to a different machine is costly
Don’t forget running costs
Whichever route you go down, it’s worth factoring ongoing running costs into your budget. The average forklift costs between £500 and £5,000 per year to maintain, depending on fuel type, age, and usage. On top of that, you’ve got the cost to charge or fuel, which with 8 hours of operation, soon adds up.
Commonly asked questions about hiring a forklift
How much does it usually cost to hire a forklift?
The cost largely depends on the value of the forklift itself, with factors like age and usage all playing a part. As a general guide, monthly hire typically ranges from £500 to upwards of £1,000, with used machines making up the majority of what’s available to hire. New forklift models are often available for hire, but at a premium.
To put that into real terms, at Multy Lift a machine available to purchase at £28,000 +VAT can be hired from £1,625 +VAT per month. An older machine valued at £10,000 +VAT starts from £585 per month.
What is the typical length for a forklift hire contract?
Contract conditions often vary from supplier to supplier. Most make an effort to keep things flexible, which is one of the key benefits of hiring, and typically important to operations where demand and needs are constantly changing. At Multy Lift we have a minimum of one month’s hire on most forklifts in stock.
Some suppliers, particularly where newer machines are involved, may require a longer fixed term contract 12, 24, 36 up to 60 months. Short and long term options are generally available, but not usually on new equipment.
Do you need a licence to hire and operate a forklift?
You don’t need a licence to hire or operate a forklift, but to legally operate one you must have undergone formal training and have your license to prove this, you must be over the age of 16, and be in reasonable health. Anyone can hire a forklift, but it’s your responsibility as the hirer to ensure anyone operating the machine meets these legal requirements and it’s used as intended.
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Here to help with forklift hire
At Multy Lift, we’re one of the UK’s leading forklift dealers and an official CESAB forklift dealer. With over 40 years in business, we’re experts in forklift supply, including short-term and long-term hire. We have a range of new and used machines in stock to suit your requirements.
Whether you’re looking for fast hire to cover machine downtime or simply want to learn more about our services, we’d love to hear from you. Contact us today.
