Forklifts stand out as one of the main types of industrial equipment you can find everywhere from the large storage area in the back of the drug store to big box retail stores, formal warehouses and industrial facilities. They are widely used, and many businesses own more than one. However, they are an expensive piece of industrial equipment. One option for containing this cost is to buy used forklifts. Let’s look at the pros and cons of buying used forklifts.
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Pros of Buying Used Forklifts
Used forklifts are cheaper than new forklifts, and they are a bargain when you get a relatively new forklift for a fraction of the cost of a new model. Saving fifty percent by getting a used one is not uncommon.
The issue is not simply whether or not you should buy a new forklift or a used and running forklift. You can also buy used forklifts in Toronto that are not running and repair them. The benefit of this approach is that you can save even more money than buying a used unit. The risk of this approach is that you may spend more money than savings from buying a broken unit or even what the unit is worth in order to get it running.
Buying a used heavy duty forklift could make such a model fit your budget. And buying a used forklift to be available when you need it is cheaper over the long run than continually rushing out to rent one.
Cons of Buying Used Forklifts
It is rare to find a used forklift that is still under warranty. Most new forklifts have warranties ranging from one to three years.
You take on the risk that the unit may not have been properly maintained and is at risk of early or costly failure. The odds of failure go up if you’re using it four or more hours a day.
Used units don’t have their full operational life ahead of them. If you are running the wheels off your forklifts, new units provide the best return on investment because they start in peak condition and have a whole lifetime ahead of them.
Used equipment may not have RFID tracking to help you locate abandoned units or notice when it is being taken out of the building without permission, though this can be added separately. Used equipment may not come with the precise and automated control systems that some business operations require. What works well enough for unloading a truck and taking to a corner of the production floor may not be good enough for a highly automated storage facility. However, they are a great option for small to large operations that don’t need advanced tracking systems, such as the vast majority of indoor warehouses for instance.
Buying a used forklift is a good investment if you aren’t going to be running it ten hours a day. Used allows you to save significant money over new equipment, including when you buy it both used and in need of repair. Buying a used forklift may let you afford a heavy duty or extra strong unit you otherwise couldn’t get, and it may pay for itself by eliminating the need to rent forklifts on demand. Used forklifts do, however, bring the risk of unexpected failure due to poor, prior maintenance and breakdown if the unit is used for five or more hours a day.