Deciding whether to buy a new or used forklift involves several considerations. Let’s delve into the advantages and disadvantages of each:
Buying a New Forklift
Advantages
Durability: With all parts being brand new and not subject to any wear and tear, a new forklift is expected to last longer and have less downtime due to potential breakdowns.
Latest Technology: New models come equipped with the most recent technology and safety features, which can increase efficiency and decrease risk of accidents.
Warranty: The majority of new forklifts include a manufacturer’s warranty, which can cover repair costs in case of certain malfunctions.
Disadvantages
Cost: The primary disadvantage of a new forklift is its high upfront cost.
Depreciation: Similar to new cars, new forklifts lose a significant amount of their value as soon as they are put to use.
Buying a Used Forklift
Advantages
Lower Cost: Used forklifts are considerably cheaper than new ones. Depending on the age and condition of the forklift, you could save between 30-50% on the purchase price.
Depreciation: Since used forklifts have already experienced the steepest depreciation, they retain their value better over time.
Availability: If you need a forklift immediately, acquiring a used one can be faster than waiting for a new model to be delivered.
Disadvantages
Shorter Lifespan: Used forklifts may not last as long as new models since they’ve already been in operation for a period of time.
Maintenance Costs: More frequent maintenance and repairs may be required for used forklifts, which could increase the total cost of ownership.
Your specific needs and budget will determine whether a new or used forklift is the right choice for you. As a general guideline, if you anticipate using the forklift for more than four hours daily in a single-shift operation, investing in a new forklift may be more economical. On the other hand, if your budget is limited or the forklift will only be used lightly or intermittently, a used model could be the wiser option.