Forklift Trade-In Value: 8 Areas to Keep in Mind

There’s no doubt that the forklift is a useful asset to many operations, but machines don’t last forever. Eventually, what used to be a productive piece of equipment turns into a something that’s spending more time in the repair shop than on the job. Nobody has time for a loss in productivity when it comes to running a business, but what should you do? Well, just because this equipment is no longer working for your operation doesn’t mean it can’t meet needs for someone else.

As a business owner and seller, chances are you want to be able to trade in your forklift or fleet for better equipment or make a small profit from your initial purchase. Whatever your reason is for retiring the equipment, there are a few things to consider, though, when it comes to selling your forklift. We’ve picked nine important areas to cover that help determine the trade-in value of a lift truck:

How old is the forklift? Just like a brand new car’s value depreciates as soon as you drive it off the lot, it’s a similar scenario with forklifts. Although it’s not a critical factor to consider by itself, keep it in mind along with other factors below to make sure you’re expecting a realistic price.

Work Hours
Age and work hours on the machine go hand in hand. How many hours has the truck put in on the job? Think about it. An older car with high mileage is going to have a lower resale value than a car of the same age that’s been driven less. The same goes for your forklift, except that use is measured in hours worked.

If it’s an electric unit, is the battery charger included? Since the battery’s main job is to supply the forklift with power, does it still operate the unit and hold a charge?

Mast Specifications
How high does the upright lift? There are a number of mast types with recommended uses. The mast type will depend on how high it can go. Remember, if it has a side shifter or fork positioner, this will decrease the forklift’s maximum load capacity even though the lift height stays the same. That being said, it’s also beneficial to list whether or not your truck has a side shifter or fork positioner.

Fuel Type
While the most common types of forklift fuel sources are propane, diesel, and electric, the LPG (liquified petroleum gas or propane) is less valuable. The gasoline powered units, although cheaper with upfront purchasing, have higher costs in both fuel and maintenance.

Indoors or Outdoors
Forklifts are categorized by tire type: Pneumatic and Cushion. Where does your forklift mainly operate? Cushion machines are made for function inside the warehouse while pneumatic tires can are suited for the outdoors.

Hey we all know a picture is worth a thousand words. Even though these are used lift trucks we’re talking about, you still want them to look decent and account for any exterior damage.

For logistics purposes, is the equipment in an area that’s easy to access? Is there a loading dock?

There you have it! These pointers should get you going in the right direction, but if you have any questions, remember we’re a worldwide wholesaler of quality used forklifts. When it comes to the valuation of your equipment, we’re the experts. For a smooth process of acquiring your equipment, handling the logistics of picking it up, getting it out of your facility and off your books don’t hesitate to contact us!