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!