New vs Used Forklifts: Which Is Best?

When deciding between new and used forklifts, price is always going to be at the front of your mind. But as investments in your operation, it shouldn’t be the only driving factor.

Which is best ultimately depends on what you need and what you’re looking for. Both options have clear advantages but also trade offs that businesses need to understand, but the right choice is yours to make.

To help, this article breaks down the differences and the pros and cons of each, going beyond just the upfront cost.

Key Factors That Should Influence Your Decision

There are many factors to consider when choosing between new and used forklifts.

Usage

Consider how the forklift will be used day-to-day. If it’s going to be a core part of your operation, reliability is essential. Downtime can be expensive, so this should be an important part of your decision. If you have a backup machine on standby, then it may be less of a concern.

Application

Think about what the forklift will actually be doing. If it’s handling heavy loads or operating in a rough outdoor environment, you’ll need to weigh up which makes more sense to buy. With both new and used, there are machines designed for heavier use available to meet all kinds of application requirements.

Cost

The purchase cost is always going to have a big influence on the decision, but shouldn’t be the deciding factor. A used forklift may cost less to buy, but could possibly have higher long-term costs for repair and maintenance. Sometimes, investing in a new forklift can be the most cost-effective option in the long run.

Advantages of New Forklifts

Warranties

New forklifts come with manufacturer warranties as standard. Although different from manufacturer to manufacturer, these typically provide you with cover from 12-36 months. Should on the odd chance anything go wrong, you’ll have peace of mind knowing you’re covered. With a new forklift, you can get up to 5 years manufacturers warranty on the battery, whereas with a used machine, this usually isn’t the case.

Latest safety and technology

New forklifts tend to come with the latest technology and safety features, such as operator comfort & assistance (cameras, impact sensors). Some may even be able to track efficiency in real time, connecting to software, which is excellent for large fleets over multiple sites.

Improved fuel & battery efficiency

If exploring electric options, batteries will be new, providing full performance. Compared to used, these are likely to deliver longer run times over a shift than a used forklift would.

Customisable to exact specifications

With new forklifts, you get the option to customise the machine to meet your exact specification for your site and application. Many options are available, including exact lift heights, and closed heights, lifting capacity, height indicators, and aisle dimensions. Additional options such as impact sensors and cameras can also make operation safer and easier.

Long-term reliability

Being the first to own and operate the machine, there is no unknown history. There won’t be prior wear and tear, so chances of unreliability are low – providing they receive regular servicing and maintenance.

Advantages of Used Forklifts

Lower purchase cost

Used forklifts have already had time to deprecate, most depreciation is done over years 1 & 2. You can usually get your hands on high spec machines at a considerably lower price, often over 30% off the new price.

Smaller finance payments and less capital tied up giving you more flexibility and better cash flow. The used forklift lifts the same loads, does the same work, meets the same operational needs for less money. Used forklifts still qualify for the (AIA) in the first year as with new forklifts.

Often available quicker

Used forklifts are usually in stock and ready to go, which makes them a fantastic option if you need to get your hands on a machine if yours is down or you have a new contract starting. This means no 12 – 16 weeks lead times for manufacturing.

Reduced depreciation impact

With usage, used forklifts still depreciate, but less so than new. Although it depends, they typically continue to depreciate at a rate of 5-10% a year, but ultimately maintain more of their value.

Considering the Long-Term Costs

Upfront cost is just one piece of the puzzle. It’s as important to think about the ongoing maintenance of a used forklift as it may require more in the long run. Machines with a history are likely to be more reliable than older models, and parts can be expensive and time-consuming to source.

For relatively newer used forklifts, maintenance costs are less likely to be a concern, though it still depends on operational hours and overall condition. While a new forklift costs more upfront, it will almost certainly cost less to maintain in the short term.

New vs Used Forklifts – Which Are Best?

Both new and used forklifts are great options. The right choice comes down to how critical the machine will be to your operation and how many hours you’re wanting to get out of the machine.

Providing your used forklift has been serviced and maintained properly from new, then you can comfortably consider buying a used forklift against buying a new one. Used forklifts are definitely worth exploring. With proper servicing and maintenance they can perform well, but may not last as long as something that’s new.

If it’s a machine you’ll be relying on to drive operations for a long time to come, a new forklift may be the right choice. Ultimately, there’s no right or wrong answer, and it’s about weighing up the pros and cons as to which you feel is best for your business.

–

Multy Lift have been trading for over 40 years in the material handling industry, and are recognised as the Midlands’ leading forklift dealer, We sell, hire, service, and maintain all makes and models of forklifts, from powered pallet trucks, counterbalance forklifts, multi-directional, order pickers, reach trucks, reach – stackers and much more.

If you think you know what you need or would like some expert advice, and guidance, please contact Multy Lift Forktrucks as we are one of the longest established experts in the Materials Handling Industry. Browse our complete range of high-quality new & used forklifts or get in touch today and we’ll help you make the right decision for your business.