Forklift purchases are large investments. Low-end machines can cost $20,000, while high-end machines can cost more than $100,000. When you need to expand your fleet or complete a specific job, however, buying a forklift can be well worth the financial outlay.
At the same time, saving money on your forklift purchase is always a smart move. Fortunately, there are many opportunities to cut down on the total cost of your forklift purchase. Take the following steps to ensure both the quality and the affordability of the next forklift you buy.
Purchase a used forklift.
The first question to ask yourself when you buy a forklift is whether you want to buy a new or a used machine. Both have their advantages and disadvantages. However, purchasing a quality used forklift will usually save you money in the long run, with a used forklift sometimes costing only half of what a new forklift would.
Used forklifts, however, can cost you more in the long run if you are not careful. When you buy a used forklift, you should consider the age and the condition of the forklift, how much you plan to use the forklift, the forklift's maintenance costs, and whether any warranties come with the forklift.
A quality used forklift in good condition with a solid warranty can easily save you money. Just make sure to go through a reliable dealer like Darr Equipment to get your machine.
Invest in a comprehensive maintenance plan.
Spending more money upfront may not seem like a good way to lower the cost of your forklift. However, comprehensive maintenance plans, when purchased through a reliable dealer, can actually lower your expenses over time.
The reason a maintenance plan can make a difference in the cost of your forklift is because the total cost is not restricted to the purchase price. Maintaining and repairing your forklift also requires money. The less you have to spend making large repairs, the more money you save.
A comprehensive maintenance plan gives you access to trained technicians who can complete all maintenance checks and tasks, thereby preventing major issues. These plans usually come at a lower cost than hiring technicians every time you need help. As a result, they provide a lower cost way to care for your forklift.
Choose a forklift with low operating costs.
Maintenance and repair costs are not the only long-term expenses you incur when you buy a forklift. Operating the forklift will also come with its own expenses. For example, electric forklifts require electricity to charge the batteries (and regular battery replacements). LPG forklifts require fuel (and a place to store the fuel).
As a result, look for a forklift with low operating costs. Electric forklifts usually cost less to use over time, but they are not suitable for every application. Fuel efficient models may make a larger upfront price tag worth it. Ask your dealer for a breakdown of estimated operating costs for the models you are considering, and choose one whose long-term operating costs are affordable.
Buy a forklift that (only) meets your needs.
Today, you have access to many different kinds of forklifts. From pallet jacks to small order pickers to large counterbalance forklifts, you can get a machine in almost any size, with almost any feature you can imagine. The key to saving money when you buy a forklift, however, is to avoid buying too much machine for your needs.
This means identifying your needs and then finding a forklift that matches those needs. If all you need is a manual pallet jack, purchase that. If you need a counterbalance forklift with all the bells and whistles, purchase that.
To help you determine which machine will serve you best, always be sure to use a reliable dealer. Here at Darr Equipment, we focus on finding you the machine that will meet your needs, not the machine that will sell for the most money. When your machine matches your needs, you will both save money and enjoy greater satisfaction in your purchase.
Purchase a good warranty.
If you buy a forklift from a reliable dealer, it may come with a warranty. The majority of machines we sell here at Darr Equipment, for example, come with warranties. However, you may occasionally find a quality machine without an included warranty, or you may want to buy an extended warranty. The cost for these warranties means paying more upfront. However, the warranties can save you money over time. When your forklift breaks, having the repairs covered by the warranty can save you hundreds or thousands of dollars, making it worth the cost in the long run.
When you buy a forklift, there are many factors you need to consider. Taking steps to save you money can make your purchase more affordable and rewarding over the long run. Consider purchasing a used forklift, investing in a comprehensive maintenance plan, choose a forklift with low operating costs, only purchase what you need, and buy a good warranty.
Throughout the process, use a reliable dealer, like Darr Equipment. We can offer you a wide selection of high quality vehicles, help you find the one that is right for you, offer maintenance plans and warranties, and more. With the right dealer, you can find a forklift that fits both your needs and your budget.