If you are thinking about buying a brand new forklift for your place of business, you might want to take some time to consider your decision. Instead, you might find that buying a used forklift is a much better business decision for your company. These are a few reasons why.
1. Enjoy a Lower Purchase Price
Buying a forklift is not cheap. However, if you buy used, you might find that it’s a whole lot more affordable. If you’re looking for ways to cut costs within your business, going with a used forklift is a great way to do it.
2. Worry Less About Depreciation
Just like cars, forklifts depreciate in value after you buy them. A lot of this depreciation happens in the first couple of years that you own the forklift, so even if you pay a brand new price for a brand new forklift, you can expect for your forklift to be worth a whole lot less if you try to sell it. By buying used, you can buy something that has already depreciated in value. Even though it will continue to depreciate over time, you won’t have to worry about the huge percentage of depreciation that can happen in the first couple of years of ownership.
3. Make Financing Easier
Unless you have the capital to spend, you might have to finance your piece of equipment when you buy it. Newer forklifts can be trickier to finance, since you might have to go through a bank, and you might have to get approved for a larger amount. When you buy used, you can make financing easier because you typically won’t have to take out as large of a loan. Additionally, some companies that sell used forklifts actually offer payment plans, which can make buying a whole lot easier if you don’t actually have the cash to pay for the forklift upfront.
4. Choose a Forklift That’s Cheaper to Maintain
Many of the newest models of forklifts have a lot of bells and whistles. Even though these can seem nice, they can actually drive up the cost of maintenance for your forklift, since you have to worry about keeping all of these components in good shape. By buying an older and simpler forklift, you can help avoid having to worry about these things.
As you can see, there are actually a lot of financial benefits to buying a used forklift. If you are in the market for a forklift for your place of business, consider these benefits of buying used before you go out and buy a new piece of equipment. If you do, you might just find that buying used truly is the best choice.