The modern warehouse or industrial manufacturing facility has a lot of expensive equipment under its umbrella. From Computer Aid Design machines, to transportation equipment like forklifts, warehouse managers are tasked to invest wisely with major investments. With a price tag that can range from $40,000 up to $150,000 or more, buying new forklifts is a huge capital investment for any sized business. This reality causes many fiscally responsible business managers to consider buying used forklifts from professional salvage companies.
But is buying a used forklift a smart business decision? The truth is that there are some forklift providers that sell less-than-stellar used forklift parts or complete units – and some that can be trusted to supply nothing but high-quality equipment. If you can locate a used forklift supplier that only sells refurbished and enhanced salvaged forklifts, it can be argued that this is indeed a smart investment vs paying up to 50% or higher for a new forklift.
Obviously, there are several variables that will determine whether you should consider a new vs used forklift. So, let’s break down a few of the important factors to consider when you are searching for a replacement or new forklift for your business.
What Are Your Forklift Needs?
The first question that any business should ask before investing in a forklift is how and where they will be using the lift. If a facility is new and is purchasing equipment for the first time, it’s usually a smart investment to consider a new forklift – especially if you can use this as a capitalized business expense. However, if the business is looking for a liftruck that will be used and stored outdoors or used as a back-up – spending the additional capital for new equipment is a bit tougher to justify – especially to business owners and/or investors.
While you’re shopping for forklifts for your business – ask yourself these questions about its application.
- Will the lift be used fulltime or parttime?
- If the forklift going to be stored and used indoors or outdoors?
- Is the facility going to be used in the same location for several years – or is it a temporary location?
Asking these important questions first will help guide you to whether the new or used forklift route is best for your needs.
When Do You Need the Forklift?
One of the benefits of being proactive is the ability to take advantages of potential discounts on pricing. Anyone who has booked a flight a few months prior to the trip vs the day before will appreciate this statement of fact. With a forklift, determining when you require the equipment to be delivered is another factor that can guide you to the new or used route.
For example – if you are looking to purchase a replacement forklift – because one of your existing inventories has been damaged to the point of unrepair, you’ll likely need one sooner than later. This is especially true if your daily business operations are suffering due to reduced workload or capacity due to the broken lift.
If this is the situation, buying a used forklift that is turnkey ready for immediate delivery simply makes sense. When you order a new forklift from a manufacturer, sometimes the unit is not ready for delivery. In fact, to reduce overhead and storage costs, many companies will construct them as they are ordered – with lead-time ranging from a few weeks to up to a year.
What’s Your Budget?
Regardless of what you’re buying, cost and your budget is a major consideration. The fact remains, buying a new forklift is going to be much more expensive than a reconditioned or salvaged and rebuilt used forklift. If money and budgets were never a consideration – you’d prefer to purchase all operating equipment brand new.
However, every smart business operates with budgetary restrictions. If you’re on the fence about whether you should opt for new or used forklift – it’s a good idea to speak with experts who can guide you to make the best business decision.
The experts at Atlanta Liftruck Salvage have been a trusted source of high-quality used forklifts and replacement parts for more than 25 years. We focus our efforts on providing excellent customer service by being honest, transparent, and guiding our customers with the right technical support and advice.
If you’re in the market for replacement forklifts – or looking to upgrade your existing equipment, give us a call today.