4 Factors That Help Determine The Value Of A Used Forklift


4 Factors That Help Determine The Value Of A Used Forklift

Buying a new forklift can set you back a significant amount of money, which is why businesses usually opt to buy used forklifts. It can, however, be frustrating to determine a fair value of a used forklift truck if you don’t know what to look at.  You do not want to pay more than a fair price for any material handling equipment that you buy, which is why valuation is key. Accurate Forklift gives buyers easy access to all important information across a wide range of well-serviced and maintained used forklifts for sale. In this blog, we share four factors that can help you determine the value of a used forklift. Read on.

  1. Age

When buying a used forklift, the age of the truck is one of the key factors to consider when it comes to valuation. Brand new forklifts begin to depreciate at an almost exponential rate from the minute they leave the dealer’s shop. To come up with a starting point, check the serial number and determine the age of the forklift – on average, forklifts depreciate by up to 15% per year. Look for the sticker price when buying new and subtract 15% depreciation per year. This will help you get an estimated base price.

  1. Forklift History And Usage

Forklift history and usage are important factors that help determine the value of a truck. This is why it is important to always request to check the shift records of all the hours the lift has been working. On average, forklifts that regularly move heavy loads and operate in extreme weather conditions such as freezing cold temperatures can age faster as compared to those with shorter and lighter workloads. Knowing the history and usage (hours) of the forklift can help in estimating its value.      `

  1. Special Features

Special and extra features on a forklift will normally add to its value, making the price go up. For instance, some forklifts come with a computerized control panel instead of a standard manual one, this can be considered a special feature. Some of the special features that add value to a forklift include air-conditioned cabs, automatic load weighing scales, and attachments sold with the lift, to mention a few.

  1. Current Condition

How well the used forklift was taken care of until the point of resale determines its market value. When assessing the current condition, look at the quality of the paint job, condition of mast, engine, tires, and driver’s compartment. Also, any recently replaced parts can increase the market value of a used forklift.

The Final Word

It is important to go through all the details of a forklift’s history and maintenance when looking to buy used. Having all the information helps you in making an informed buying decision. Accurate Forklift is one of the best forklift dealers in Atlanta that make the whole experience of buying a used forklift easy. Our fleet of used forklifts for sale are well-maintained and come with all the service records. For more information on available deals or to discuss your requirements, simply call 770-692-1455 or email [email protected], and we will get back to you as soon as possible.

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