Why buy a new forklift?

When you’re looking to expand your fleet of forklifts, you’ll have the choice to purchase new or used forklifts or lift equipment. Both of these options have various benefits that make them an attractive choice for companies. When you buy new or used forklifts, you’ll want to be aware of their advantages so you can make the best investment for your company.

Learn more about why you might want to buy a used or new forklift and how you can decide between the two.

Why Buy a New Forklift?

You can find several advantages of a new forklift that make them a popular choice for many companies. Find out more about the benefits of buying new forklifts below:

• Increased efficiency: New forklifts tend to come with the latest designs and technology, making them more efficient than previous models. Much of a new forklift’s increased efficiency comes from the greater deal of power and speed new technology enables. Typically, a used forklift will also have lost some of its lift capacity and speed, making a new forklift the go-to option when you want to receive the best efficiency possible out of your machinery.
• Greater durability: If you want to buy a forklift you can trust to work far into the future, a new forklift is an excellent option. Since a new forklift has the latest technology and parts in it, you can trust it to last much longer than a used forklift. Additionally, you don’t have to deal with previous repairs or maintenance issues associated with most used forklifts.
• More attachment options: Generally, new forklifts have more attachments available for them, meaning you can use your forklifts to accomplish more jobs. Due to the many attachments, you can more easily customize your forklifts when you go with new models.
• Easier fleet uniformity: When you want all of your forklifts to be the same type, it’s a great idea to purchase new forklifts instead of used ones. While you might have to mix and match when purchasing multiple used forklifts, you can almost always purchase multiple models of the same type when you buy new ones.
• Improved safety: New forklifts tend to have improved safety features compared to used forklifts. Many of the latest forklifts come with more signals and alarms to ensure operators are aware of dangers. You can also find forklifts with features designed to automatically stop accidents and better ergonomics to prevent operator injuries.

Why Buy a Used Forklift?

While there are many advantages of buying a new forklift, you can also find benefits of buying used forklifts. Learn more about the advantages of investing in a used forklift below:

• Greater savings upfront: One of the most obvious advantages of purchasing a used forklift is the greater upfront savings. Since you aren’t buying new, you can spend significantly less money on a used machine. If you have limited capital or are looking to save money, used forklifts are often an excellent choice.
• Higher chance of operator familiarity: A used forklift will usually have been on the market for some time, with plenty of companies and operators using similar models to complete their work. Operators tend to be more familiar with used forklifts than new ones, as they may have already operated these forklifts or similar models in the past. Since new models tend to have different controls and features, used forklifts can help you save on the money and time required to train operators on how to use them.
• Increased buying power: Due to the lower price of used forklifts, you increase your buying power when you purchase them. For example, with the same price you’d pay for the cost of a new forklift, you might be able to purchase two used forklifts, allowing you to potentially get more value out of your money. Besides having more capital to purchase more forklifts, you can also use the money you save by paying for repairs and making other investments.
• Larger selection: Dealers tend to have more used forklifts for sale than they have new ones. Since more used forklifts are available, you can usually find a used forklift meeting your material handling requirements exactly.
• Easier maintenance and service: When a used forklift needs maintenance, it’s often much easier for companies to repair any parts or install replacement components. Mechanics tend to be more familiar with the maintenance needs of used forklifts due to their familiarity with them, making inspections and repairs go by faster. Since replacement parts are on the market longer, they also tend to come at a lower cost than new replacement parts.

Comparing Your Options

With all of the pros and cons of new and used forklifts, you might still be wondering which option is right for your company. As you decide between the two, consider some of the top reasons a company purchases a used or new forklift below:

When You Should Buy a New Forklift

If you have the capital to purchase a new forklift without putting too much financial burden on your company, it can be a great choice. Many companies that require greater longevity, efficiency and safety from their equipment select new forklifts, as well.

Since used forklifts have fewer attachment options and make it more difficult for companies to purchase multiple of the same model, companies requiring more fleet uniformity and flexibility will want to purchase a new forklift. Due to a new forklift’s greater durability, they’re a perfect choice for companies planning on using them over multiple shifts per day.

When You Should Buy a Used Forklift

Due to the lower price of used forklifts, they’re a great option for companies that don’t have a lot of extra cash or want to have more buying power. If you have a team of operators you don’t want to spend time retraining, used forklifts are great choices, as well.

Used forklifts may also be better if you want a wider selection and easier, less expensive maintenance. Since used forklifts don’t have a new forklift’s longevity, you’ll only want to buy them when you plan to use the equipment for four hours or fewer a day.

Find the Right Equipment at Gregory Poole Lift Systems

At Gregory Poole Lift Systems, we provide a wide selection of new and used forklifts to ensure our clients get the best option for their needs. When you turn to us for your equipment requirements, our team will be happy to help you choose the perfect forklift. Alongside our many forklifts, we offer various warehouse solutions to increase your facility’s overall efficiency and productivity.

Review our selection of used and new forklifts today. If you have any questions, please feel free to contact us.

Guest post written by Alex Hilke of Conger Toyota-lift out of Green Bay Wisconsin.

If you’re in charge of purchasing forklifts for your company, you might be overwhelmed. After all, there are hundreds of options to choose from. Your biggest question might not be what model to buy or what options you need, but rather:  Should I buy new or used?

Fortunately, this guide will outline four key factors to consider, so you can make the right choice for your company, needs, and budget.

1. The Cost

If you’re like most companies, you’ve got a budget to stick to when making equipment purchases, so buying a used truck can be tempting, since it’s almost always the cheapest option.

Consider as an example these new and used forklift pricing scenarios:

First, a 5,000 lb. LPG-powered cushion:

• New: Approx. $24,000 to $30,000
• Used: Approx. $9,900 to $21,900

Second, a 5,000 lb. electric sit-down rider:

• New: Approx. $35,000 to $40,500
• Used: Approx. $8,550 to $25,000

But the purchase price alone doesn’t tell the whole story, because there’s another cost factor you may not be aware of that applies to both new and used trucks alike, and that’s the total cost of ownership.

If you’re unfamiliar with the concept, let’s break it down.

The total cost of ownership refers to all expenses related to the operation of the forklift. That includes the purchase price, fuel, operator training, and maintenance costs.

In deciding between new and used, maintenance costs are a critical factor to consider. That’s because used lifts have more wear and tear, and thus higher maintenance costs. Realistically, a used forklift can cost around $3.50 per hour or more in maintenance. A new forklift, on the other hand, will cost around $1.00 per hour.

So, when you consider the total cost of ownership instead of just the purchase price, you’ll get a more holistic look at the real costs of both new and used lifts. And that can help you decide which one is the right choice.

2. Your Work Needs

The standard advice from industry experts is that you should consider a new truck if you plan to use it for more than 4 hours per day, 5 days per week. That means if you’re running an around-the-clock warehousing or manufacturing operation, you’re probably better off going new.

But besides expected service hours, there are a couple other things you should consider. One is your facility’s layout and operational needs. For instance, if you’re operating a warehouse with 25-foot tall racking, you may have difficulty finding a truck with that tall of a mast on the used market.

Likewise, if you’re stacking pallets inside semi-trailers, you might have a tough time finding a lift with a shortened “trucker’s” mast.

If your facility has narrow aisle widths, you may require a short-frame 3-wheel electric forklift, a swing reach truck, or a side loader forklift. Each of these trucks may be in limited supply on the used market. A final factor to consider is the hydraulic setup of the truck.

If you’re using multi-function attachments like paper roll clamps and fork positioners, you’ll need at least four functions, but you may have trouble finding a used truck with that many functions that also meets your other operating requirements. Adding more hydraulic functions is an expensive modification to make. So, if you find yourself in that situation, you’re likely better off going new. That way, you can get the correct configuration from the start.

3. The Truck’s Service History

No matter what your business is, the name of the game is productivity. You’re not buying a forklift to just have it sit unused. You’re buying it to work, and if your operation requires equipment to operate at maximum uptime, you can’t afford to risk costly downtime events.

When it comes to greater reliability, less downtime, lower maintenance, and overall better productivity, new is the way to go. Obviously, new trucks won’t have any wear and tear from prior use. But in case something does go wrong, you’ll have the peace of mind of an extended warranty. Not all used forklifts come with that assurance.

Conversely, if you’re planning on having the lift serve as a spare or part-time truck, you may have a bit greater appetite for risk, and a used lift truck might be a good choice.

In that case, you’ll need to carefully consider the truck’s history before buying. For starters, make sure to get the service hours and maintenance log upfront.

Then, see if you can find out more about the truck’s previous operating environment.

After all, certain kinds of work environments and operating practices can take their toll on these machines, including:

• Extreme heat or cold
• Continuous operation across multiple shifts
• Poor maintenance practices
• Operator abuse

If you’re eyeing an electric lift, there’s another aspect of service history you’ll need to consider: The condition of the battery.

Unfortunately, this is something buyers often overlook. But since a new battery can cost anywhere from $3,000 to $12,000 or more new, you’ll want to make sure that you don’t.  A good rule of thumb is to look for batteries with at least 80% capacity remaining. That equates to roughly four hours of usage before needing a charge.

Now, if you’re comfortable with the truck’s history and current condition, your next step is to have a qualified technician inspect it. They can alert you to anything that’s structurally deficient, mechanically defective, or that jeopardizes safety, like:

• Compromised overhead guard
• Binding or lopsided mast
• Leaks
• Loud noises
• Wiring issues
• Unevenly worn tires

One way to reduce your risk of buying a shoddy used truck is to purchase from a factory-authorized dealership. Because they must meet stringent manufacturer standards to carry their brands, you can trust the quality of the used lifts they sell.

4. Your Urgency

In a perfect world, you could predict exactly when you’d need a lift truck. You’d be able to plan ahead and make the arrangements to get it in time. But the reality is that your operational situation and needs can change at any moment.

Maybe you’re experiencing a sudden surge in business. Or perhaps one or more of your current lift trucks are out of commission. Either way, you may find yourself in urgent need of a forklift. If that’s the case, you might need to consider going with a used truck. In some cases, you can buy a used lift truck and put it to work in as little as a day or two. Especially if you’re buying from a local, certified dealership.

New trucks, on the other hand, can take as much as 18 weeks before they ship from the factory to the dealership and are ready for the customer, and that simply might not be an acceptable time frame for you and your company.

Conclusion

There you have it: Four key factors to help you decide between buying a new or used forklift.

We’ve given you a lot of useful information, but you may still have questions. If that’s the case, there’s no substitute for consulting with industry experts who know lift trucks. The experts at Southeast Industrial Equipment can help answer any questions particular to your situation so you can get the perfect lift for your needs and budget.

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