You have money to invest
Buying a truck can feel right if the money exists and a new (or used) truck is needed for the business. Generally speaking, there are of course better things to invest in because a truck, just like a passenger car, directly loses value. But if the company's policy is that you should own all the machines and trucks, you should of course do so.
A self-owned truck will be an asset on the balance sheet and you can do as you please with it without being worried about what those who own the truck should say when the contract or lease ends.
You prefer to have a fixed monthly cost
If you rent your forklift(s), you can invest the capital that had been spent on buying the truck(s) in other things that can develop the capital for your business. Forklift rental also allows you to reduce costs when you are not in need of as many trucks. You will have less trucks standing still when the equipment need is not that high.
If there are also low interest rates, there is little reason to tie capital in a truck that quickly drops in value. However, be careful that who you rent from are authorised and the truck is checked. Watch out for short-term rent which turns into a long period as the price is often high, it is cheaper to rent for a longer period from the start.
High level of flexibility
Forklift rental, especially for a short period, offers a good and flexible solution to cover busy times or peak seasons. The hire period can be really short and prolonged when needed.
The type of truck can be chosen and changed and truck options can be discussed and adapted to your needs during the contract.
Flexibility is not so important
If your business is less sensitive for fluctuations in demand, less flexibility in resources and equipment is needed. Your owned fleet will do the job.
When owning your trucks, you are responsible for maintenance and repair. Ask your material handling supplier what service packages they can offer to ensure uptime of your fleet. Preferably a yearly regular service visit to reduce the risk of a breakdown. Ask yourself how long you can be without the truck if something should happen.
Renting forklifts for a shorter or longer period is a good alternative to avoid the high initial cost and you get service, spare parts and technology included in the contract.
Short-term rental is a good solution when a truck breaks down and you quickly need a replacement.