Should You Buy a New or Used Forklift?

buy new forklift, new forklift prices

When searching for a forklift, new or pre-owned, the two major factors to consider are cost-effectiveness and efficiency. There are abundant resources that will help you research. 

For most businesses, the cost is a prime motivator when choosing a forklift to purchase. A previously owned forklift can cost half as much as brand new forklift prices. However, there may be cases when that low price can come with huge hidden costs. Below are certain advantages and disadvantages of choosing a new or used forklift.


New Forklift


Advantages

These days, the latest forklift models work efficiently for longer hours. A pre-owned one may be better suited for when the machine will be used for a few hours at a time. The general rule is that if the forklift is meant to be used for less than 4 hours in a day, a pre-owned one may suffice. If the forklift is to be used for more than that, it would be best to buy a new forklift.

  • A new lift comes with a warranty which is typically from 12 – 36 months. 

Disadvantages

  • New forklift prices tend to push people away because they are usually more expensive. 

  • Tend to lose its resale value quickly


Used Forklifts


Advantages

  • Costs up to 50% less than a new forklift. Cost savings is always a crucial element that needs to be considered by a good number of businesses. 


  • When needed only occasionally or is to be used for only a few hours in a day, used forklifts will be more cost-effective.


Disadvantages

  • When you buy a previously owned forklift, there will be very visible signs of wear and tear, which will not be there when you buy a new one. It would be best to ask for a detailed report of previous maintenance issues.


  • There may be no warranty, or if there is, it would be limited. 


  • The working life may be shorter. It is important to consider how long it has already been in use. 


There are advantages and disadvantages whether you buy forklifts new or pre-owned. Although new forklift prices may be higher, if the equipment is to be used regularly, it would be best to buy a new one. 
Location: Australia

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