Is it time for your team to upgrade to some new forklifts in Indy? If so, how much are you going to get from trading in your old forklifts?
To save your company some time and money, make sure you’re in the know about how much your forklift is worth, and how much you should be getting out of it. If you’re flying blind, you could be missing out on a lot of value. Here’s how to be sure you’re getting the most out of your forklift trade-in.
Like any vehicle or piece of heavy equipment, a lot of factors contribute to your forklift’s resale value. Here are some of the most important.
Condition - The condition can make a big dent in the selling price of any used forklift in Indiana. That goes for both the condition of the actual moving parts (engine, mast, chains, pistons, etc), as well as the cosmetic condition. Even if scrapes and scratches don’t affect how a forklift operates, some companies prefer to look as professional as possible and will look for a pristine-looking forklift.
Age/Usage - Just like a car, the age and hours of work put on a forklift plays a big part in its value. Though it will vary between different types and models of lift trucks, a rule of thumb is that forklifts with under 9,000 work hours will have some of the highest trade-in values, while above 16,000 will be on the lower end.
Add-ons and Accessories - Bale clamps, roll clamps, fork extenders, forklift cages, bucket forks, aerial platforms – any additional accessories coupled with your forklift will add on to its resale value.
Brand Name - The brand name of a forklift matters a lot to some companies. A reliable Yale forklift in Indiana will always sell for more than an unknown brand name or other brand name, even if they’re identical.
Capacity - Higher capacity forklifts are more versatile, and larger loads usually means more value per trip. That equals a higher price tag, even on the used forklift market.
Service History - Regularly scheduled preventative maintenance on your forklift is invaluable to its longevity. If you can provide proof of certified service over its lifetime, you can likely get more out of selling your forklift.
Some of the qualities listed above are completely out of your control, but there are a few things you can do to help you get the most out of trading in your forklift. Start with these.
Regular Preventative Maintenance - Getting your forklifts serviced by certified technicians not only is going to improve its performance while it’s yours, but will fetch you more money when selling it. Keep all of your records of your equipment’s service history, as well as a copy of your technician’s certifications.
Make Your Forklift Look Good - A dinged-up lift truck isn’t going to stand out to many fleet managers, so before you try to shop it around be sure to give it as thorough an inspection as possible. Better yet, don’t let it get damaged in the first place. Proper forklift operator training will help you avoid those accidents that seriously devalue your equipment, and a safer work environment can prevent you from having to invest more in new forklifts to begin with.
Keep Your Forklifts Organized - Remember that add-ons and accessories can help boost the resale value of your forklift, but it won’t matter if that inventory gets lost. Be sure to organize your storage space for fuel tanks, batteries and chargers, attachments, safety harnesses, and whatever else you might want to package with your forklift when you sell it.
With new forklifts, used forklifts, and rental equipment by the score, Tynan Equipment Company can help you get settled on a new forklift or any other material handling equipment your business needs. Call us today at 317-597-4003 or find our nearest location to help you get started.
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