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Jan 11 6

Advantages and disadvantages of buying a used Toyota forklift?

When your growing business needs to expand materials handling capabilities, the first thing that comes to my mind is a forklift. The second thing that comes to mind is the accountant keeling over of apoplexy. Shopping smart for your equipment doesn't necessarily mean buying a new one off the lot. Savvy shopping and an eye on the budget line items shows that buying a used Toyota forklift is the smart option for small businesses and even for transport trucks looking to add value to their services.

Disadvantages:

  • Maintenance records: The maintenance records for the forklift that you're considering may be missing or incomplete, so you might be unaware of past maintenance issues.
  • Wear and tear: Forklifts are heavy equipment, and they might have dents, dings, scuffs, or other evidence of use.
  • Hours in use: Forklifts don't have odometers that tell you how long they've been used or how many loads they've lifted. If you are going to use the forklift for four hours per day or less, your best bet is probably a used one.
  • Parts availability: Buying an older model can mean that the parts to repair it may not be available any longer. So, buying a much older model can mean that you end up with a very large and expensive paperweight.


Advantages:

  • You can score a screaming deal. When a company has to sell off assets in a bankruptcy or a repossessed forklift comes on the market, you can pay as much as 75 percent off the price of a new one.
  • Dealing with a reputable used equipment dealer can save you as much as 50 percent from the cost of a new forklift, and often gets you a warranty plus a service contract.
  • Reputable dealers are up front about what they do and do not have when it comes to service records, and can steer you to machines with better provenance.
  • Trade in allowance. If you have a forklift to trade in, it might work as a partial or full down payment.
  • Try before buy. Used forklift companies often rent and lease from their stock, giving you a chance to try before you buy.
  • Less depreciation. Driving a new forklift off the lot is like taking your money and jumping off a cliff. Depreciation begins the second that you fire it up. With a used lifter, the depreciation is less overtime.

Take your time and do your homework on used forklift dealers in your area. Look at reviews, talk to other local business owners, and shop around for the best possible deal for your budget and your needs. Your warehouse staff and your accountant will thank you. 

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