So, you need a new forklift. You know what kind of forklift you need, you calculated all the forklift costs, and are ready to go. The question lingering in your mind is, do I buy new or used?
How do you know which is the better option? Well, read on, and we’ll take a look at some of the pros and cons of new versus used forklifts!
Used vs New Forklifts
When deciding between new and used forklifts, the biggest constraint is usually budget. While newer isn’t necessarily better, it’s important to remember that used forklifts can cost more in the long run than a new forklift. Let’s take a look at the pros and cons of both.
New
Buying a new forklift means you have the latest model out there. You don’t have to bargain or haggle the price to get something you’re comfortable with. In general, new forklifts will last longer with proper maintenance, meaning you can get the most out of it for your money.
New forklifts have all new parts, so you know what you’re getting. You’re also getting exactly what you want. Not to mention on a new forklift, you’re getting a 12 to 36-month warranty.
However, you have to keep in mind that a new forklift on average is double the cost of a used one. That means financing, which means a lot of paperwork. That is something to keep in mind.
Used
When you buy a used forklift you are looking at a huge cost savings. For example, a used Toyota forklift could cost between thirty-to-fifty percent less than a new Toyota forklift, which can be quite significant when your budget isn’t as high as you’d like it to be.
The purchasing process is going to be much quicker on a used forklift, and likely much less paperwork. You’re looking at quicker delivery too since most used forklifts are display models than you can just drive into a truck and head back to the office. Sounds great!
Except, you might not be able to get a forklift with the exact features you want. You won’t get the newest make and model. You also need to be careful of the price valuation, you could lose big if you don’t do it right.
A used forklift won’t be as efficient as a new one. You’ll also have higher maintenance costs. And you’ll get either a very limited warranty or no warranty at all.
Forklift Costs to Consider
Looking past the upfront costs for a forklift can give you a window on which would be better, a new or used forklift. Several factors determine the costs of a new or used forklift:
- Capacity
- Fuel Type
- Mast Size
- Tire Type
- Hydraulic Setup
- Configuration, Features, and Accessories
Which Type of Forklift Is Right for You?
In general, terms, if you use the forklift for around four hours or less, you’re safe going for a used one. If you’ll need it for more than four hours a day, consider a new forklift. If you need one for heavy use, you’ll want that 12-36 month warranty.
The Forklift for You
There’s a lot of math that needs to go into buying a forklift, new or used. It is always good to go into a store knowing both what you want and how much you have available for it. Knowing the forklift costs will give you an advantage in your forklift buying adventures!
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