When planning to purchase a forklift there are many questions that should be answered before deciding whether to buy new or used. Both types have advantages and disadvantages, but generally one will fit your situation better than the other.
When to Buy Used?
- When the lift will only be in use for a few hours per day (Generally, no more than 5 days per week and 5 hours a day)
- Single Shift Operation
- Not part of a heavy duty, nonstop environment
- When adding an additional unit for backup
- When funds are limited (Can be up to 50% less than a new unit)
- When you need a good unit now
Why Used?
- Most can still be financed and/or leased, including FMV residual leases
- Nearly immediate delivery vs. long lead time of new units
- Parts can be a major concern among newer models
- Some units still qualify for some or part of the original factory warranty
- “Extended” or “certified” warranties are available from the manufacturer for many used units
- In many cases, there is little difference between the “remaining life” of a used lift vs. a new lift
- Customer receives fair market value for the material
Although there are many advantages of buying used, there are also a few disadvantages. Such as, just like a used vehicle, a used forklift will have visual wear and tear than a new lift will not have. You will need to receive a detailed report of any previous maintenance issues and take into consideration how long it has been used.
As for new units, they generally speak for themselves. A few advantages of buying a new unit is that new models are equipped to handle longer hours at an efficient pace, whereas the used model is better to be used on occasion. New lifts have a warranty that can be anywhere from 12 to 36 months. A disadvantage of buying a new forklift is that some push away from the higher price and the longer delivery, yet a new forklift can be a better investment.
When deciding to buy a forklift, consider all of these factors to make the best decision for your work environment! Used or new, you are sure to be in good hands with The Lilly Company!
