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Buying and Selling Heavy Equipment: How to Price a Used Forklift

Forklifts are an essential piece of equipment for moving heavy materials, yet, they can put a huge hole in your budget when you buy them new.

If you’re a professional who needs a forklift on-site, don’t overpay for a new forklift. Consider buying used!

Keep reading to learn more about pricing a used forklift.

Determining the Value of a Used Forklift

While used forklifts are a great option, it’s important to know that you’re getting a good deal.

Part of this is knowing the value of various used forklifts. Here are some factors that impact the pricing of a used forklift:

The Manufacturer of the Forklift

If a used forklift is from a well-known and reputable brand, it’s going to cost a little more than its counterparts.

Since you’ll know that the forklift still has quite a long life, you’re getting a better deal than if you bought a less valuable forklift for less money.

The Forklift’s Power

Another factor that will impact how much you pay for a used forklift is the power of the forklift.

The higher the load capacity, the more expensive a used forklift will be. A higher capacity will allow more work to be done in less time, so naturally, the price will be a little bit higher.

In addition to load capacity, the lifting power will impact the value of the used forklift. Having a strong lift power is essential for professionals who are transporting large items. Since this feature makes the forklift more versatile, the price will be a bit higher.

If you’re in search of a forklift for smaller loads and items, you can get away with buying a less-expensive forklift with less power.

Type of Engine

For the most part, the type of engine your forklift has won’t make a huge impact on the value.

On the other hand, the type of engine will have an impact on how much the forklift costs over time. For example, a battery-powered forklift will cost less over time than a forklift that’s powered by diesel or gasoline.

While the battery may need to be replaced every so often, gas is more expensive over time.

Use of the Forklift

The number of times the previous owner used the forklift will also impact the value.

A forklift’s age is determined by the number of hours it has been used rather than the miles that have been used. When purchasing a used forklift, it’s important to look at how many hours it has been used as well as how many hours you plan on using it.

This will help you ensure that the forklift has enough time left for your investment to be worth it.

Are You Ready to Invest in a Used Forklift?

For the most part, a used forklift will be much more affordable than a new forklift.

If you need a forklift, consider buying used to save yourself some money while getting a great piece of equipment!

To buy a used forklift or trade-in yours, reach out to us today!

The 5 Best Forklift Brands in 2020

Did you know that material handling is a $330 Billion (with a capital B) industry, globally?

The top materials handling company by gross sales numbers is Caterpillar Inc. All by themselves, they raked in $53.8 billion in 2019. More than double the next highest sales numbers by Toyota Industries Corporation.

But the world of materials handling and sales numbers isn’t the whole story. Cranes and forklifts are two very different beasts.

Make sure your diesel is full and your batteries are charged. Keep reading to get our picks for the 5 best forklift brands in 2020.

Heavy-Lifters of the Forklift Brands

Since forklifts come in so many shapes and sizes our list will be an overall comparison, covering different types of forklifts.

1. Hyster

Hyster is one of the most recognizable brands of forklift in the world. Even without being inducted to forklifts, one of their warehouse forklifts is probably what you would imagine.

A long history of dependence and credibility with modern know-how and global reach make Hyster the #1 pick.

2. Yale

Yale is defacto #2, for being the second-most-recognizable and reliable brand in the world. While the company started out in the 1800s with locks, for which they are still a big name, they also had industrial aspirations.

Since the 1920s, Yale has been a leader in forklift design and production. It helps that Hyster and Yale have joined forces to completely slam-dunk on the competition.

The Hyster-Yale group IS material handling, even if they aren’t pulling the sales numbers of Caterpillar Inc.

3. Hiab

Hiab is a huge name in truck-mounted forklifts, producing the MOFFETT model of forklifts. There are a variety of different sizes and kinds available, from electric to diesel. They run quietly and in narrow spaces such as streets.

Recently, they also acquired their direct competitor, Princeton, and the PiggyBack forklift series. They’re now a nearly identical machine now, with MOFFETT lifts featuring off-centered seating while Princeton is in-line with the forks and mast.

Overall, they represent the first and second place market share in truck-mounted solutions. This means Hiab now has unprecedented reach in this segment.

4. Toyota

Toyota makes more than cars. Actually, after Caterpillar, they are the highest-selling material handling company in the world. Their range of forklifts covers difficult terrain to tight spaces and warehouses. Their lift capacities go from a ton to 50 tons.

The chances that Toyota doesn’t have a forklift product that you’re looking for is low. However, they don’t specialize in anything in particular except for comfort and smoothness.

Still, creature comforts are welcome.

5. Komatsu

Lastly, for our top 5, we have Komatsu which is another Japanese manufacturer of heavy industry and other industrial machinery. They have a great track record, though only 6% of their overall business sales are forklift related.

They are a quickly growing company and should be on your radar for upcoming years.

Lowering the Forks

Although forklift brands as a whole are having a tough year, because of the COVID-19 pandemic, don’t count the industry out.

Material handling is expected to grow as an industry almost 6% into 2026. This from projections based on information gathered after the virus appeared in 2020!

The fewer people that products change hands during distribution, means less viral contact. Truck-mounted forklifts are known to streamline delivery systems as is.

Make sure to check them out now for single-operator distribution models, and safety!

5 Essential Forklift Types and Their Uses

When at work, there’s nothing better than getting your job done efficiently.

While this can apply to all types of businesses, there are often tools you can use to streamline tasks. In some businesses, forklifts are useful in these situations.

Putting less strain on workers and giving them a tool to use for heavy lifting is a great way to improve efficiency. But which forklifts are best for your industry?

Read on to find out more about the different forklift types on the market and how they can work for you.

Forklift Types: What You Need to Know

Forklifts are commonly divided into classes. These classes have different types of forklifts depending on certain characteristics and purposes.

Here’s a little bit about each of the forklift classes.

Class I

Forklifts in Class I are electrically powered. You’ll find them used inside and they’re a popular choice in retail.

They have many different uses, but they’re a great addition to warehouses. They’re capable of turning sharp corners and of carrying large loads. This makes them the perfect choice for stores or warehouses who need to move lots of merchandise or food.

Class II

This class is also made up of electric-powered forklifts but they have different purposes.

Two great examples in this group are the order pickers and reach forklifts. They both have the same purpose, which is to grab things out of reach.

They are best used in situations where you have tall shelving for storage. This makes it easier to take things up and down off of them.

Another example of this class is the pivoting-mast forklift. It can rotate the mast to make turning easier.

Class III

Class III is an interesting one. It includes lifts that are electrically powered, or human-operated. Pallet jacks are part of this class as they can be operated manually or automatically.

This class is great for the grocery or retail industry. They’re capable of moving large pallets of merchandise that are transported. They can also be used for moving merchandise around or unloading deliveries.

Class IV

This class is all about the cushion tires. They’re a defining feature of the forklifts that are part of this group.

You’ll find these types of lifts indoors, and they have gas or diesel engines. They’re useful on loading docks and for unloading trucks at their destination. Another great feature of these forklifts is that they can have a large weight capacity.

Class V

While Class IV claims cushion tires, Class V is known for its pneumatic tires.

These are the types of forklifts you’ll find on a construction site or metal yard. They are great for transporting large objects and some are even capable of moving large containers.

Bonus: Class VII

The forklifts in this class are often found mounted on the back of trucks. They travel with the truck and do the loading/unloading at their destinations.

You might know them better as piggyback forklifts. These types of forklifts can also be installed on tractors. They’re used on farms for various tasks like lifting equipment or taking out hay.

What Forklift Types Are Right For You?

Forklifts are essential to many businesses. Whether you’re working with lumber or transporting food, they can make life much easier. Now that you know the different classes, you can choose the forklift types that suit your business best.

Are you looking to purchase a forklift? Check out our inventory to find the one that’s right for you!

10 Essential Forklift Safety Tips Every Operator Needs to Know

Operating the forklift isn’t the easiest job on earth, and neither is it the safest. While no sane manager or supervisor overlooks worker safety, it’s easy to forget about the forklift. That’s because forklifts are more subdued equipment that barely make any noise and require minimum supervision.

Though forklifts seem like harmless lifting equipment, they account for about 85 deaths every year. That’s why forklift operators need to know the common forklift safety tips by heart.

The danger with forklifts is that they are difficult to stop because they only have brakes on their front tires. They also weigh about 9,000 pounds; as much as thrice the weight of an average car.

Forklifts, just like any other material handling equipment, requires the utmost care and diligence to operate. 

Regardless of how busy or skillful you are, safety should never take the backseat when operating the forklift. If you’re a forklift operator, here are some safety tips to remember when on the job.

1. Don’t Leave the Forklift Unattended

This is a rookie mistake that no professional forklift operator should be making. Plus, in case you didn’t know, it’s illegal to leave your forklift unattended with the keys still in the ignition.

Make sure you turn off the forklift when not in use to reduce the chances of a potential injury.  You should also close the service valves to save on fuel, which is great for business.

2. Always Inspect Propane Cylinder

When was the last time you inspected the propane cylinder? If it’s a long time, then it’s time you give them a look.

You should check whether the propane cylinders have any rust, dents or leaks.  If they do, then it’s high time you call your propane supplier for replacements. 

Sometimes your propane cylinders may wear out way before the prequalification date. If that’s the case, you still have to replace them. Talk to your superior or anyone in charge to arrange for servicing or replacement.

3. Store the Propane Cylinders Safely

Apart from inspecting the propane cylinders regularly, make sure you store them in a cage or rack away from heavy traffic. That means you should keep them away from entrances, exits, and stairways. Also, ensure you pick up the cylinders carefully and place them gently inside their racks or cages.

The best way to place these cylinders is to position them horizontally with the pressure relief valves at the top. You can get a refresher on how to lift and store these cylinders properly from your propane supplier.

4. Inspect the Forklift Before You Operate It

Don’t just jump straight into it, before starting work, make sure you give your forklift a thorough inspection. This should be something routine, and with time it will be close to nature. 

While doing your inspection, make sure you check for any dents, damage, or missing parts. If something’s wrong, inform your supervisor immediately and drop your work until everything’s fixed up. Never operate a faulty forklift.

5. Always Wear Your PPE

OSHA requires all employers to furnish their workers with personal protective equipment, and forklift operators are no exception. So before turning the ignition, make sure you have your hard hats, visible wear, and work boots on.

6. Wear Your Seatbelt

Buckling up is very important if you’re operating a forklift. A forklift can easily tip over because it has more weight on its rear to counterbalance the weight it has to lift in front.

Wearing your seatbelt keeps you safe should the forklift overturn. The seat belt also prevents you from getting crushed by the overhead when you get into an accident.

7. Remember the Weight Limit

Even if you think the forklift can handle it, don’t surpass the forklift’s weight limit. Most forklift accidents are a result of exceeding the stipulated weight limit. If you overload the machine, there’s a high chance that it will tip over.

8. Drive Safely and Hoot If You Have To

Operate your forklift at safe speeds and don’t attempt any crazy antics with it. We don’t need to remind you how easily a forklift tips over, and how dangerous it is when it does. As such, you should operate it steadily, and slow down when you have to take corners.

Hoot whenever someone obstructs your vision so they can move, or you can stop gradually before you hit them. Remember, forklifts take longer to come to a stop because they don’t have brakes on their rear wheels.

9. Reset Forklift to “Default” When You’re Done

Once you finish what you’re doing, turn the forklift off, pull the parking brake, lower the forks and set the controls to neutral. Doing so ensures that there’s no unexpected movement once you get off of work. For heavier forklifts, you may want to secure them with wheel blocks, just in case you’ve parked them on a slope.

10. Secure the Pressure Release Valve

Before you close up, make sure you properly secure the pressure release valve. After the valve clicks into place, ensure it points away from the locating ping. Make sure it’s facing the completely opposite direction that the locating pin faces.

Always Observe These Forklift Safety Tips

Forklift operators should always prioritize safety whenever they use their folk lifts. With these few forklift safety tips, hopefully, you’ll be able to operate your forklifts with absolutely zero accidents. Remember to service and inspect your forklifts regularly.

Also, make sure you buy your propane cylinders and your forklifts from a reputable supplier. For strong, reliable, and certified forklifts, contact us today and find one for yourself.