As much as you might prefer to have a straight-off-the-production-line vehicle with state of the art technology and factory warranties, it is not always within budget, especially for smaller and mid-sized companies.
Much like buying a car, there are considerations and a cost-benefit analysis when purchasing a new or used forklift. Here are a few things to think about.
How Often is it Used?
Is your forklift going to be used occasionally or all the time? For constant or heavy use, you’ll probably want to purchase a new one as it will last longer.
What is it Used for?
Do you need an electric forklift for indoor warehousing or does your industry require open air heavy lifting with a diesel motor? How you use the machine will help you figure out the real cost difference rather than an average.
Second hand forklifts that have been used quite a lot previously may be quite cheap but will have less life left in them. For example, if you require an all-terrain vehicle and purchase used tyres, you may find they are worn and will need replacing sooner than a new one.
Overall Ownership Costs
Whereas upfront costs vary greatly between new and used models, consider the overall ownership costs. Maintenance, fuel or batteries, and storage over time should be thought about. If you find a used forklift for a much lower initial cost but that is likely to break often or is much less fuel efficient, it may be worth it to purchase a new model instead.
For large employers, buying several of the same forklift may be beneficial as you’ll have access to economies of scale when it comes to refuelling, operations, and maintenance.
Where are You Purchasing From?
Buying a forklift from an individual is the riskiest way to purchase. Buying instead from a certified dealer will allow you more guarantees, return policies, and trustworthiness. Never buy a refurbished or used forklift without ensuring it has been properly inspected.
Is the Quality Matched?
When faced with the option of buying lower quality new machines or higher quality second hand forklifts, consider efficiency and quality. Does it make sense for your company to lose out on strength or durability because the price is lower?
What about an in Between?
Much like leasing, there are sometimes Rental options for forklifts. This means you can find out if a forklift is the one you want, and the costs you pay to rent it are put toward the overall purchase. If you find that it is not the right fit, you can always return it and start again with a new model.
Overall, there are several ways to get a great forklift. Whether you buy a new one, purchase a second hand one, or rent one, it’s entirely possible to find the right fit for your company.
Call 07 3855 5644 to speak to us today. We’ll help find the exact new or used forklift you need based on your industry and budget.