Choosing between new and used forklifts is critical for any material handling business. A brand-new forklift offers reliability, the latest technology, and fewer maintenance concerns. On the other hand, a well-maintained used model can deliver significant cost savings without sacrificing efficiency. But which option truly aligns with your budget and operational needs?
We analyse the key factors – cost, lifespan, maintenance, and resale value – to help you make an informed investment that maximises performance and savings.
What Are the Key Differences Between New vs Used Forklifts?
Before comparing your choices, you need to understand what they are. In a nutshell, the main difference between new and used forklifts lies in their age, condition, and price point.
New Forklifts
New forklifts come directly from the manufacturer. They offer the latest technology, pristine condition, and full warranty coverage. They also have up-to-date safety features, ergonomic designs, and fuel-efficient systems. Many models include advanced dashboard controls, improved battery management for electric forklifts, and enhanced productivity features. However, all of these features give new forklifts a corresponding price tag.
Used Forklifts
Used forklifts have a history of previous ownership and usage. This means their lifespan and efficiency may vary. The key is finding a well-maintained used model. These can still deliver a reliable performance. Used forklifts typically sell at lower prices. This makes them an attractive option for budget-conscious buyers looking for cost-effective material handling solutions.
Understanding New Forklifts: Pros and Cons
Purchasing a new forklift is a significant investment. They offer modern functions but at a higher price. The decision comes down to a trade-off between initial cost and long-term value.
What Are the Advantages of Buying a New Forklift?
Buying a new forklift offers several clear advantages. First, you get the latest technology, which boosts productivity and efficiency. Features like improved hydraulics, precise controls, and data systems can make a big difference.
New forklifts also come with a full warranty. This saves you money on repairs and maintenance. You can also customise your forklift to fit your needs. Your options include:
- Choosing the right mast height for your warehouse.
- Selecting the appropriate fuel type (electric, gas, diesel).
- Adding forklift attachments for specific tasks.
New models often have advanced safety features that help you meet OSHA regulations and reduce accidents. Finally, a new forklift typically lasts longer than a used one. This gives you better long-term value.
What Are the Potential Drawbacks of New Forklifts?
While new forklifts offer numerous advantages, there are some considerations to keep in mind:
- The most obvious drawback is the higher upfront investment.
- Like new cars, new forklifts can depreciate quickly in the first few years of ownership.
- Businesses with light or occasional requirements might not get the full use out of a new forklift. I.e., pay for features or technology they won’t really use.
Understanding Used Forklifts: Pros and Cons
Used forklifts can save businesses money. There is often a significant price difference between used and new forklifts. This makes used forklifts attractive for budget-conscious buyers. However, buying used requires caution. You need to know what to look for.
What Are the Benefits of Buying a Used Forklift?
The biggest advantage is the lower initial investment. You can get the equipment you need without spending too much. If you choose carefully, you can find a high-quality used forklift. It will perform well but cost much less than a new model.
Another plus is immediate availability. Used forklifts are often ready to go. This can reduce downtime if you need a forklift quickly. You can replace a broken machine or add to your fleet without waiting.
Some additional benefits of buying used include:
- Lower insurance costs – It usually costs less to insure a used forklift.
- Proven performance – You can often find out about a used forklift’s history. This helps you know what to expect from it.
What Should You Consider When Buying a Used Forklift?
When buying a used forklift, it’s important to proceed carefully. First, always ask for the forklift’s maintenance records to confirm it has been properly cared for. The number of hours the forklift has been in use is also a key factor in determining its condition and lifespan.
Before purchasing, ensure a qualified technician inspects the forklift to spot any potential issues. Also, check whether the warranty is still in effect and is transferable. Lastly, ensure that replacement parts are easy to find for your chosen model.
How Do You Determine the Total Cost of Ownership?
When comparing new vs used forklifts, you should look beyond the initial purchase price and consider the total cost of ownership (TCO). This includes factors such as:
- Fuel or battery costs – Consider the efficiency of the forklift and how it will impact your ongoing operational costs.
- Maintenance and repairs – New forklifts typically require less maintenance initially, but used forklifts may need more frequent servicing.
- Downtime – Factor in potential productivity losses due to equipment downtime. This may be more frequent with older, used models.
- Resale value – Consider the potential resale or trade-in value of the forklift.
- Training costs – Factor in necessary operator training if you’re switching to a different model or brand.
How Can TAG Forklift Trucks Help You Make the Right Decision?
TAG Forklift Trucks can help you choose between new and used equipment. We offer a wide selection of both types of forklifts to meet different budgets and needs.
If you’re unsure about a purchase, our forklift hire options let you test models in your environment. We also provide servicing and repairs to keep your forklift in top shape, whether new or used. Our attachments, refurbishment services, and parts inventory ensure your forklift meets your specific requirements and runs smoothly.
The Forklift Decision: Balancing Needs and Budget
Choosing between new vs used forklifts comes down to your specific needs, budget, and how you operate. A new forklift offers the latest technology, more reliability, and a longer lifespan. It’s a great investment for businesses with high demands. However, it comes with a higher price tag.
Used forklifts are more affordable for budget-conscious businesses. While they may have some wear, a well-maintained forklift can still perform well. The key is to weigh all the factors carefully.
Partner with TAG Forklift Trucks Today
Still stuck? Contact our team for personalised support in making this crucial decision for your business.
