What Is Your Forklift’s Trade-In Value?

Are you looking to make a hunk of cash for your used forklift? There are many presiding factors that determine how much money you can get for your forklift. Taking stock of these parameters can help you enhance your trade-in and boost the value. Whether you are looking to pick up a down payment for a new forklift or simply looking to exchange one device for the other, there are many areas you can keep an eye on to maximize your return. Here is how:

1) Age – Age is paramount when assessing and evaluating the price of a used forklift. The newer the forklift the more it is going to be worth. However, depreciation is something that plateaus with time. So for instance, a 15-year old forklift and a 20-year old forklift will be far closer in value compared to a 3-year old machine versus an 8-year old model of identical make and mechanism.

2) Fuel Type – There are a wide range of forklift fuel sources, including propane, diesel, and electric. There is also another breed of machine that hones LPG (liquified petroleum gas or propane) which is garnered as less valuable. According to The Forklift Pro, gasoline powered units, although cheaper with upfront purchasing, have higher costs in both fuel and maintenance. As an effect of this, trade-in value is also impacted.

3) Indoor/Outdoor Capability – The more diverse the forklift, the more value it is bound to bode. Forklifts limited in application have little appeal or market value compared to a machine that has full capability to work indoor or outdoors. Generally speaking, you get what you pay for. With this being said, forklifts with indoor and outdoor capability cost more upfront but provide larger returns on the back-end when it comes to swap gear.

4) Labor History –Moreover, the amount of times the vehicle was taxed and had to be placed out of service plays a huge role in the trade-in value. For forklifts engaged in primarily light work undergoing routine maintenance this looks far more appetizing compared to an old workhorse that was overworked, exhausted, and beaten up. Labor history is something that cannot be avoided but must be taken into consideration as you prepare for a trade-in.

5) Appearance – Obviously what is most easy on the eye is bound to have the highest demand, trade-in value, and appeal to potential buyers. There are little steps you can take to smarten up the appearance. First, a new paint job is a fundamental method to boost the value of the vehicle. Rusty machines are less likely to generate the fanfare that a shiny new coat will. Doing so is a quick and easy task and relatively cheap to complete.

6) Location – Like real estate, location is everything. If your forklift has a specific purpose or niche application where it is prominent, the value will increase. However, some forklifts will little upside to takers if they are not designed to tackle inclement weathers in notoriously bad regions for such conditions.

About Tom Reddon

Tom has been involved in the forklift industry since 1986. He loves doing research, blogging, and speaking about forklifts. You can contact Tom on his Twitter or Google+ profiles.

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