Search ProLift Blog

Buyer Beware: Used Forklift Reconditioning

February 22, 2013

Purchasing a used forklift can be intimidating. Ordering new equipment offers security in the condition of the forklift; however, a used unit doesn’t often come with a detailed history of usage and repairs. How can you ensure your budget dollars go toward a reliable investment?

Request a condition report
Knowing the current status and past history of a used forklift is vital. This report is proof of what items were in need of attention and should or should not be in working condition. If the used forklift received doesn’t match the current condition report, you have a stronger backing for resolution with the seller.

Insist on reconditioning details
A reputable seller will record important reconditioning details for a used forklift such as what items were safety checked and which parts have been repaired or replaced. In some cases, the seller may share the unit’s past application and average daily usage. Inquire how many hours are dedicated on average to reconditioning.

Research more, assume less
Information about a used forklift helps you select the right unit for your application. For example, if your unit will be used outside, every forklift will not accommodate this need. If an advertisement is vague, contact the seller and ask more questions regarding a unit’s hours, tires, fuel, capacity, etc. Many buyers also reach out to peers in their industry for referrals of reputable sellers.

Know the seller’s guarantee
If the used forklift purchase doesn’t work upon delivery or after only a few hours of usage, does the seller offer a guarantee? Most sales over the internet or through an auction are “as is” and do not allow buyers an opportunity to test the equipment. While you might save money on the purchase cost, you may later face a large repair bill.

Used forklifts that have been regularly maintained are good investments and make financial sense for companies using the unit 4 hours or less daily. Cut out the unknowns of purchasing used equipment with questions and research.

Ready to shop for used forklifts? Click here to review ProLift’s inventory and warranty levels. We guarantee your used forklift purchase – if you are not satisfied with the performance of your used forklift, you may exchange it at any time within 30 days of purchase.

Comments (0)

How to Choose a Used Forklift Warranty

August 23, 2011

New forklift equipment offers a standard warranty from the manufacturer; however, used forklifts may present you with a variety of options. Details of a warranty, including items repaired and period of coverage will differ by seller.

Consider these guidelines when selecting a used forklift warranty:

Evaluate the number of hours your used forklift will be in production
The more hours your lift is in production each week, the more vulnerable it is to damage. A lift working 10 hours or less each week can carry a low level warranty as compared to a lift in production 10-20 hours per week.⁽¹⁾

Consider your application
A demanding application is reason to consider a more comprehensive warranty that offers coverage over a longer time period or for more components. For example, a glass manufacturing facility makes the used forklift vulnerable to the elements of heat, debris and heavier loads.

Ensure the used forklift is safe for operation
Find out what items were inspected and repaired. Ask for documentation of these repairs and try to determine if they were necessary due to normal wear and tear or resulting from a previous harsh application. Research if the repairs meet your company’s safety policies and evaluate if an extended warranty period gives you peace of mind.

Know your budget
When used forklifts are repaired to meet a specific warranty level, the labor and parts used for those repairs increases the total cost of the lift. If your budget is tight, the lowest level warranty may be necessary. However, if your budget is adequate for a higher level warranty, the cost of ownership for the used lift is oftentimes less due to the repairs frequently being charged at internal labor rates. ⁽²⁾

Have a personal comfort level with your used forklift purchase
Used forklifts are a significant investment for your company. It is important you are confident the lift will perform, especially if you have had a bad experience with a used forklift purchase. Higher warranty levels bring longer period of coverage for breakdowns.

For more tips on purchasing Used Forklifts, read our blog “Buying a Pre-Owned Forklift.”

(1) If your forklifts are in production more than 20 hours per week, it is generally recommended to purchase new equipment.

(2) Internal labor rates are charges between departments at a forklift dealership and are generally lower than the dealership’s published labor rate.

Comments (0)

Four Ways To Keep A Forklift Purchase In Your Budget

June 15, 2011

The purchase of a forklift is a major investment for any company. Depending on options and fuel type, new lifts may range from $18,000 – $28,000. With the pressure of the economy and the need to increase the company’s bottom line, replacing or adding to your current forklift fleet may seem impossible. However, four common options can offer a solution.

Lease & Finance Options

There are many products through lending institutions that offer custom designed lease products for your individual business needs. Some of these options include:

Skipping a lease payment, which is beneficial for seasonal business when revenue is not generated monthly.
Two term leases, which gives the ability to walk away at the end of the first period or significantly reduce the payment during the second term.
Accelerated or decelerated payments, which is a fixed term with payments increasing or decreasing over the term. This option can help decrease your interest expense or reduce your current payment until business improves.

Buy Used

If your equipment runs less than 4 hours each day, buying used may work for your application. Many used trucks arrive in the fleet when they are turned in for trade or off-lease. In addition to the initial cost savings, most units have been reconditioned by the dealer. Upgrades may include paint, tires and safety features. Warranties are often included or available for upgrade.

Consider an Electric Pallet Truck

The electric pallet truck (EPT) is often overlooked, but will save thousands of dollars on the purchase. For applications requiring only a horizontal movement of product, you should consider an EPT.

Rental or Rental Purchase Option (RPO)

If you have a forklift need but do not have the money in the capital budget, try renting. Companies will consider discounting rental rates for long-term commitments depending on the application and usage.

A twist on renting equipment is a rental purchase option (RPO). Just as the name suggests, a new or used truck can be rented for a predetermined period and you have the option to purchase that truck while applying a portion of the rental payments. The key to RPOs is determining your long-term needs and the decision to own the truck.

Comments (0)

Buying a Pre-Owned Forklift

January 14, 2011

After determining to purchase a pre-owned forklift instead of new equipment, a buyer is faced with the dilemma of picking a reliable unit. Although it’s easy to weed out units not meeting warehouse specs, it can be difficult to differentiate two similar forklifts.

What to Look For

Available History of the Forklift
History of a forklift gives the buyer insight to the conditions and environment in which the unit operated. For example, was the unit used indoors for loading and unloading only or was it operated for three shifts a day? Request known information about the forklift. Is it an off-lease or rental unit for the dealership? Was the dealership previously responsible for servicing the unit and if so, know what items have been repaired?

Service Evaluations
In addition to seeing the physical unit and test-driving, being aware of recent service evaluations and repairs will help explain differences in purchase price when looking at more than one forklift. A dealership should provide current status of the truck and include proof of repairs. To evaluate overall cost, the buyer should inquire if additional service or parts may be needed. Most importantly, the forklift must be safe to operate.

Forklift Availability
Review the dealership’s quote proposal for details such as a stock number, serial number or hour meter reading. If this information or other items are not provided, the buyer should ask if the dealership has an actual forklift to view or if the quote is based on a sample unit.

Hour Meter Accuracy
Hour meter readings can be deceiving because they are not regulated like odometer readings of an automobile. If broken at its original location, a false read of hours will result. The dealership should provide repair history of the forklift that proves continuity in the hour meter reading. Additionally, the buyer should review pump and drive motor hours when applicable.

Warranty Options
Most dealerships provide warranty options for every unit and at times, can be upgraded for additional security. Buyers should compare warranty coverage on each unit to find out what is included should an issue arise. Purchasing a forklift without a warranty option can be a risk and taken into consideration when setting a maintenance budget.

Purchase Guarantee
Unfortunately, a buyer can put in the time to research units and still discover the pre-owned forklift selected isn’t a good fit. For additional buying security, learn what purchase guarantees are offered by the dealership. For example, can the lift be exchanged or returned?

Additional Resources

Buyerzone is a third party resource for researching multiple industries and available vendors, including forklifts and material handling. Click here to read their article about buying pre-owned forklifts.

Click here to shop an online inventory of ProLift’s pre-owned lifts.

Comments (0)

Categories

Archives

Links

Buyer Beware: Used Forklift Reconditioning

How to Choose a Used Forklift Warranty

Four Ways To Keep A Forklift Purchase In Your Budget

Buying a Pre-Owned Forklift

What to Look For

Additional Resources