During this week’s #DoosanDeepDive we will be taking a closer look at the wide world of used forklifts to determine who is a good candidate to purchase a used forklift. We will also be answering questions such as: How to spot quality used lift trucks and how to spot dishonest fork truck dealers. 

What type of business can benefit from a used forklift?

According to our Eastern Regional Business Manager, Mike Cody, any business that is looking to run their forklift less than 40 hours a week would be a good fit for a used reach truck. Used lift trucks are also a good fit for businesses that do not have a large amount of money set aside for the purchase of a new truck or are not interested in going through the process of financing a new electric forklift. 

How much should I expect to pay for a used lift truck?

There are many different types of reach forklifts available on the market and each kind has its price point. Keep in mind that depending on the accessories and functions you are looking for price can vary widely. Visiting a reputable forklift dealership is always a great starting point on your search.

Because forklifts hold their value extremely well, you can expect to pay approximately 75% of the original cost. However, during times of scarcity, this price can average as high as 85%. Keep an eye on the current market and average asking price to make sure that you are not paying too much for your used fork truck. 

What should I keep in mind before purchasing used forklifts?

According to Mike Cody, no particular industry is better than another when it comes to utilizing new or used forklifts. But he did have the following suggestions to keep in mind before you make your purchasing decision:  

• Companies that require their lifting equipment to run outside should probably invest in new equipment.
• Do not purchase used equipment if you plan to work on a construction site.
• Used lift trucks are often not eligible for normal service contracts or warranties. 
• The cost of servicing older equipment can quickly outpace the upfront savings.
• Always take a mechanic with you to evaluate any equipment before purchase. 

What questions do you have about buying used fork lifts?

Did we answer all of your questions regarding purchasing used forklifts? Comment below to have them answered!

Don’t forget: every month we select a winner from our comment section! Winners will be announced on all of our social media channels, so if you are not already following us be sure to do so on LinkedIn, Facebook, Twitter or Instagram so you don’t miss your chance to claim your prize!