Is it better to buy new or used forklifts? It depends on your priorities. New forklifts are better if you have very specific needs and anticipate a high utilization rate. Used forklifts are a perfect choice if your requirements are flexible and you have a lower utilization rate.
Consider the following factors to determine the best option for your operation.
- Usage: Consider how much time you will be using your forklift per day and the nature of the work you will be doing with the forklift.
- Budget: Take your budget into account, but don’t forget to consider potential maintenance. Financing may be available which could also affect your budget.
- Needed Specs: Does your forklift have to be a certain brand or a specific capacity? Make sure you know what you need from a forklift and whether there is any flexibility in those requirements.
So, how do you know if buying a new or used forklift is right for you? Here’s a quick guide to help you figure out the best option.
When Is It Better to Buy a New Forklift?
- You Anticipate High Usage: If you plan on operating the forklift more than a few hours a day, it is probably best to buy a new forklift. If you use your forklift more than that and you purchase a used forklift, the lifetime of the forklift will be drastically shortened. It will also probably end up needing a significant amount of service with that rate of utilization. To get the best lifetime value, a new forklift is best for you.
- Your Needs Are Specific: Are your needs specific to a particular brand, model or capacity? Are you looking to customize your forklift? If so, it may be better to purchase a new forklift, as this will ensure that you get everything you need.
- You Want to Minimize Maintenance: Newer forklifts generally require less service, especially if you performed planned maintenance. You can rest assured that all of the parts are brand new as well. Also, new equipment typically come with warranties which can help maintain your bottom line.
When Is It Better to Buy a Used Forklift?
- You Are Working with a Limited Budget: If you do not have the budget for a new forklift, a reliable used forklift can be a great alternative. Just make sure you purchase your forklift from a certified dealer, so you can be assured of the forklift’s quality. If you do not purchase from a dealer, you will not have the reliability and support of a one-stop shop that can also offer service and parts when needed.
- You Do Not Anticipate High Usage: If you only plan on using the forklift for fewer than a few hours a day, a used forklift is a great option for you. At this rate of utilization, you will not wear out the forklift as fast and will not end up with as much maintenance.
- Your Requirements are Flexible: If you do not have strict specifications for your forklift, a used forklift would be a great option. As long as you make sure it fits in your aisle space and carries the maximum capacity you need it to, a used forklift could be a great fit.
Whether you are looking for a new or a used forklift, Equipment Depot offers an extensive inventory to suit your needs. We also offer parts and service if any of your equipment needs maintenance.