7 Factors That Impact the Cost of A Used Forklift

Buying the right pieces of equipment at the right price is often bewildering, especially for new entrepreneurs. The decision is more critical when it is about indispensable machines such as a forklift. Whether to buy a new one or a used one is the first ambiguity that you seek to resolve.

Once you have decided to invest in a second-hand forklift, the next is to determine where to buy second hand forklifts and how much will it cost. Finding forklifts at the best price and in good working condition can be a game-changer for many starters. Here we try to provide you a guide on how used forklifts are priced and factors you should consider before signing that cheque.

Condition of the equipment

Forklifts are often used in difficult environments that impact the condition and workability of these machines significantly. Proximity to saltwater, extremely cold environment, extreme humidity, and heavy outdoors are some factors that can result in significant wear and tear. These defects are reflected in the cost of the forklift and reduce the price.

Seller’s thoroughness

Sellers’ thoroughness and reputation have a surprising influence on the price of the equipment. Most sellers buy anything they can acquire and put it up for sale. They often make no or minimal repair before they slap a price tag on these machines. Such equipment would cost much less than thoroughly maintained ones.

Age of the forklift

This one is a no-brainer and applies to every used thing that you buy. An older forklift will have old and outdated features. It would be more used, meaning more wear and tear. These factors significantly drop the value of the equipment.

Usage hour-wise age of the forklift 

Age and number of hours it has been used combined provide you an accurate idea of its usability and working condition. As for a used car, along with the making year, mileage plays a vital role in determining the price, the number of hours is also important for pricing a forklift. Usage for more hours results in cheaper equipment.

Demand and supply

Some forklift trucks, especially the higher capacity ones, are sometimes generally available as compared to the regular warehouse forklifts. Higher demand and scarce supply of trucks can result in a rise in the price. However, if a dealer is sitting on a massive fleet just influx due to lease expiration, he can provide you the trucks at a much-discounted rate.

Warranty

Unlike new forklifts that come with a definite warranty, used forklifts’ warranty differs from lift-to-lift and seller-to-seller. Sellers who do not spend much on the maintenance and repair of the forklifts, sell cheaper and with no warranty. On the flip side, thorough sellers provide a warranty for 30 to 60 days for parts and labor and up to 6 months for powertrains which increases the price.

Accessories and attachments

Sideshifter is a regular attachment that comes with a forklift truck with no additional cost. However, some sellers have some additional attachments such as box clamps, paper roll clamps, etc. These attachments are based on the application the trucks are coming from. Sellers sometimes keep these additions and sell the truck as a package at a higher price.