If you are thinking of purchasing a forklift to aid your business, there are several things you must consider first. While it is important to research which brands, models, and types of forklift are best suited to your needs and those of your business, one of the first decisions you will face is whether to buy new or used machinery.

With an unlimited budget, the majority of business owners would opt for a band new, top of the range, shiny forklift; but for many of us, this type of equipment is a huge investment. Do you need the latest forklift or would a previously used one do the job just as well? Cost is often a big factor when it comes to buying a forklift, with those that have been previously owned costing as little as 50% less than new forklifts. While this may seem like an amazing discount, it poses the question – does this low pricing come with any hidden costs or disadvantages? We have put together the following article to highlight some helpful factors to consider when purchasing new or used forklifts.

How Will a Forklift Benefit My Business?

The addition of forklift trucks can be extremely beneficial to a huge range of businesses in several sectors. Typically, forklifts are most commonly found in warehouses, construction sites, storage facilities, retail, and agricultural settings. The diverse variety of forklifts available means that company owners can select vehicles that meet the needs of their specific business. Make sure to assess the space you have available and establish whether your forklift will be used indoors or outdoors before selecting a brand or model. This way you can be sure to choose the best forklift trucks for your industry and company.

Forklifts can be used to complete a number of different tasks so are typically a great investment for businesses to make, regardless of whether brand new or previously owned. Common uses of forklift trucks include:

• Transporting heavy materials: This machinery is frequently used to carry heavy materials from one area to another. Forklifts are advantageous because they allow you to reach areas that other vehicles are unable to access.
• Loading and unloading: Forklifts can be used to load and unload materials and pallets from trucks, shelves, and much more. Whatever your loading needs, there is sure to be a vehicle to complete the task in hand.
• Transporting people: By using correct and safe attachments, forklifts can be used to lift workers. For example, if you need to change lightbulbs in a tall warehouse, ladders are no use but attaching a basket suitable for carrying people could be the perfect solution!
• Cleaning: By using the right attachments, you can convert your forklift into a vehicle capable of a variety of cleaning tasks. Use plough like fixings to clear debris quickly and efficiently.

New Forklifts

Advantages:

• The price is set which means that the need for intense bargaining is removed
• You will have the newest technology in the market
• Usually more eco-friendly and release less carbon dioxide into the environment
• Will typically last you longer if you follow the correct maintenance schedule
• You can be more specific with what you want
• You will receive some kind of warrantee, usually somewhere between 1 and 5 years.

Disadvantages:

• It is a huge investment, typically costing anywhere from £10,000 all the way up to £50,000
• Purchasing with finance options often involves long, tiresome paperwork
• Often faced with long waiting periods while the forklift is manufactured
• Buyers experience pressure from sellers to purchase expensive add-ons
• Unfamiliar models can require additional training.

Used Forklifts

Advantages:

• Used forklifts are significantly cheaper, normally about 30 – 50% less
• Delivery is much faster because there is no need for a manufacturing period
• Add-ons already installed will be included in the upfront cost
• You may have a good idea of how well an existing, older model works for your business and staff
• Easy access to replacement parts because more of the units are in circulation
• Recycling equipment is good for the environment and prevents emissions during manufacture.

Disadvantages:

• You may find that you compromise and miss out on some of the features you desire
• Used forklifts are usually less efficient than newer models
• It is unlikely that you will receive any kind or warrantee and otherwise will be very limited
• The models available may start becoming outdated
• You could face high maintenance costs due to several of the old parts needing replacing.

Research, Research, Research

While there are clear benefits to both new and used forklifts, it is important to remember that the best solution for another business is not necessarily the most suitable option for yours. The whole buying process requires you to carry out good research to ensure your needs are met whatever you choose. When buying a used forklift, this research is particularly important, and it is a good idea to get a copy of the maintenance report for the vehicle. This allows you to see the history of that particular piece of equipment, meaning any issues experienced by the previous owners will be brought to light and can judge whether the machinery has been properly maintained.

As well as the vehicles past, you need to consider how you plan to use the forklift in the future. Try to establish how many hours it will be used each day, the conditions in which it will be used, and the nature of the work it will be used for.

Buying Your Forklift

The process of buying a new forklift is essentially risk free because the vehicle will come straight from the manufacturer which is typically a trusted and reliable brand. Buying used forklifts is a different story. Used forklifts can be purchased from a number of different sources including individuals, large businesses looking to replace their fleet, and certified used forklift dealers. It is vital to have a mutual level of trust with your seller – so choose carefully!

Selecting the best forklift for your business is a completely personal decision. It is crucial that you carry out enough research and consider everything outlined above to ensure you are making the best investment for you and the company.