Should You Trade-In Your Forklift or Sell It in Indiana?


3 Reasons to Trade-In Your Forklift in Indiana

Your company’s forklifts are valuable assets. But like any equipment, forklifts do not last forever. If you are spending more time (and money) repairing a forklift than using it to perform tasks, then it may be time to consider an upgrade. 

The question is, should you trade-in your forklift in Indiana or sell it yourself? It may be tempting to sell a used forklift yourself, but there are advantages to trading it in at a dealership and buying a newer forklift model.

1. You don’t have to worry about maintenance for top-dollar

If you find that maintenance costs are climbing, then it may be time to trade-in before the value of your forklift drops. Private sales of forklift are usually done with “as-is” conditions. That means if you want to get top dollar for your forklift, you might have to perform some maintenance so that it runs well.  You may find that a trade-in of a dying forklift, however, has a higher value if used to purchase or lease another forklift.

For instance, the hydraulics on a forklift is critical. If the forklift has a hydraulic problem, then you have a dead lift on your hands -- which commands little, if any, resale value. But you could still trade it in at a dealership and still get a worthwhile price.  And you save the forklift maintenance for a certified technician.

2. Trading-in is less hassle than selling

It is easier to trade-in a forklift than to sell it outright, and there is less time commitment involved. When you sell your forklift, you have to advertise online and offline which entails a lot of work such as taking good photos and writing an attractive description. The selling process can take a very long time as well, and it entails waiting for buyers to come to you.

If you trade-in your old forklift, you will get a credit deducted from the final price of a new replacement forklift. However, when you sell a forklift on your own, you will end up having to haggle with the buyer. The price the buyer pays, in the end, is more of a gamble. And you still must shop for a replacement, sometimes at a higher price.

3. Trade-in forklift before its resale value depreciates

When you are trying to sell or trade-in your car, one of the most significant factors is the resale value. The resale value largely depends on mileage. The lower the mileage, the higher the value. 

The same goes for forklifts except the resale value is influenced by the number of work hours accumulated on it. A forklift with lower work hours is generally worth more when you buy a used forklift, so it goes to reason that the same forklift will generally generate a better trade-in value. The forklift resale value can drop significantly as the hour meter approaches 10,000.

Trade-In Your Forklift in Indiana With Tynan

When you decide to trade-in your forklift in Indiana, turn to the experts at Tynan. We can give you a competitive price that can then be used with your replacement truck. Call us today at 317-597-4003, and our team will be happy to assist you in trading in your forklift for a newer model.

Used forklift equipment in Indiana

Related Articles