When confronted with the purchasing cycle, it is a big decision for anybody to determine whether to buy used or new. In terms of purchasing a lift truck and trying to choose between the two options, the best thing to do is figure out the application requirements for the lift truck. For instance, figure out the type of machinery that is needed, how long you intend to keep it and the number of hours per week or per year you will use it.
Typically, a higher priced forklift would hold its value longer over time. It is good to remember that an inexpensive new forklift may not have the overall reliability, ability or value of a second-hand unit of a higher priced kind.
When considering a purchase of a new or used lift truck, there are 3 aspects that you must take heed of: utilization, duty cycle and seasonality. If you are thinking of using your lift truck for 4 or more hours a day, it is better that you buy a new model, particularly if you would have a high-duty cycle. A high-duty cycle means moving lots of loads per hour that are at or near the capacity truck.
On the other hand, if you expect to use your forklift for less than 4 hours per day or on an irregular basis, than purchasing a lower cost brand new unit or a second-hand lift truck may be the right alternative. Several of the newer units are available at lower costs that are manufactured for lower-duty cycles. As well, if you think that you will expect to use the forklift only during specific times of year on a seasonal basis, then a used lift truck or a rental program may best alternative available and can potentially save you a lot of money.
It is important to know whether the machinery will be always used. This will mean knowing the amount of uptime and dependability needed for your certain application.