If time is money, then a reliable forklift is practically priceless. If your business has gotten to the point where it needs to move larger and heavier products, and manual labor can’t physically cut it anymore, it may be time to buy a forklift.
Buying a powered industrial truck is no small investment. Forklifts are powerful and technical machines that can have a major effect on your operation’s efficiency and output – so don’t be off-put by the sticker price. Like buying a car, there are plenty of things to consider when browsing the market, one biggest being whether to buy a used forklift or a new forklift. There are obvious advantages and disadvantages to each, and choosing the proper machine can significantly affect your bottom line in the long run.
Why consider a used forklift? If you have a budget to adhere to, which is likely, a used forklift can save you thousands of dollars upfront. A brand new electric forklift can cost up to $25,000, not including the additional price of a battery and charger. Compare this to a properly refurbished machine of similar functionalities and you’re looking at between $5,000 and $10,000. Used forklift prices are drastically lower than their new counterparts. That being said, used equipment isn’t for everyone. Used forklift prices aren’t the only thing to consider. It really comes down to how you need it to perform and how your operation runs.
Consider the following factors before you buy a forklift.
How Will You Use Your Forklift?
Whether this will be your first or 15th forklift, it’s important to think about the conditions the truck will operate in before you buy a forklift. What kind of jobs do you need it to perform? How much are you willing to put aside for maintenance? Think big picture here. New and used forklift prices are important, but they aren’t all that matters. Consider future needs and projects as well. After considering your applications, you should be able to narrow down the type of forklift you need. The five primary types are order pickers, rough terrain forklifts, telehandlers, reach trucks, and sit-down riders.
Order pickers help workers reach stocked items between 8 and 11 feet high. They’re typically only used indoors on smooth surfaces. Rough terrain forklifts are equipped with pneumatic tires for outdoor use. Telehandlers are also used outside and have an extendable boom for increased reach. Reach trucks are used in narrow warehouse aisles. Sit-down riders are standard counterbalance forklifts, the most popular type.
Now that you know what you’re looking for, you can decide between a new or used forklift. The obvious advantage of a new forklift is that it will have all the latest technology with the newest bells and whistles. New equipment is reliable and will perform tasks with the least amount of downtime possible. New forklift prices may be high, but they also include solid warranties that protect you from unexpected breakdowns.
While new forklift prices are certainly a downside, there are many benefits to owning equipment that is brand new.
How Frequently Will You Use the Equipment?
If you plan to use your equipment daily for the majority of the year, a new forklift is the best option. Buy a forklift that will last as long as possible with little downtime due to maintenance.
If you plan to use your equipment intermittently, buy a used forklift. Businesses that work on a variety of projects at different locations may also want to consider a used forklift. This allows you to utilize multiple equipment types without purchasing multiple new machines.
Buy a used forklift if you plan to use your equipment infrequently for a range of applications.
What is Your Budget?
What are your finances like? There’s no doubt that a new forklift is expensive. However, used forklift prices can be thousands of dollars less than new forklift prices. Consider what you are willing to spend and the level of quality you need before you buy a forklift.
If you need the quality and reliability of a new forklift, but don’t have the budget for new forklift prices, consider other options like forklift financing. A financing plan allows you to keep your finances open instead of tying them up in the high upfront cost of a new forklift.
Buy a forklift without breaking the bank. Use financing to get the equipment you need without sacrificing quality. Want to compare prices before you buy? Use Forklift Inventory.
Making the Right Choice
Again, deciding between new and used equipment comes down to your business needs. Buying the right used forklift can save you big bucks. However, a new forklift can offer years of reliable operation.
Keep in mind that if you do choose to buy a used forklift, there are some things to look out for:
- Cracks or bends on the forks and mast
- Damage to the mast rails that could affect structural integrity
- Excessive wear on mast rollers
- Any leaking hydraulic fluids from the hoses that run parallel to the chains
- Bends or damage to the canopy main supports
- Odd sounds coming from the engine compartment
- Check for smooth loader arms operation.
- Leaks or cracks in the engine compartment.
- Loose counterweight bolts
Regardless of which you choose, the first and most important step is to find a trusted forklift dealer. You need to make sure that you are getting what you’re paying for. With so many options available, this can be tough. Make life easier by using a price comparison site like Forklift Inventory.
Instead of wasting hours calling numerous dealers asking for pricing, use Forklift Inventory to compare equipment online in minutes. Plus, every piece of equipment in their inventory is guaranteed quality. They work with top, pre-screened dealers to ensure top-notch machinery.
Simply select your equipment type and specifications, then receive free quotes on equipment in your area that meets your needs. Compare new and used forklift prices from a variety of sellers to find the best deal in your area. Check it out here.
