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Do you need to buy a forklift.

buying October 13, 2016

buying forklifts

If you have a business where you are moving products on a pallet, there is more than a fair chance you need a forklift to help you.  Whether you already have a forklift or are looking at getting one.  You might want to be looking at needing to buy a forklift.

How to buy Forklifts

These days there are plenty of forklift brands and models on the market.  When you go looking to buy forklifts, buyers will tend to focus more on the engine, transmission, mast, make and model then they do on how to buy forklift.

Once you narrow your decision down on what forklift you are going to buy. The next step is how to buy the forklift, and you have a few different choices.

Purchase outright

If your are lucky enough to have the capital sitting in your bank account.  You can purchase it outright.

Rent to Buy

This has become a very popular way to buy forklifts.  You are able to rent the forklift over a fixed period of time, with either a zero payout or a small payout figure at the end of term.  Usually the business renting the forklift is still responsible for maintenance by either paying for it as they go, or a preventative maintenance agreement, with the forklift dealer that they bought the forklift through.

Finance – Lease

This type of arrangement is very similar to the rent to buy scheme, but it is purely a finance arrangement with either a finance lending business or the bank.  The maintenance can be done by any reputable forklift or mechanical business.

Fully Maintained Operating Lease

A different version of a rental agreement, but it is usually done directly through the finance company where the forklift dealer will bill the finance company every month. The business that rents the forklift ring the forklift dealer directly to arrange maintenance issues when they arise.

Rental

Very similar to the FMOL arrangement above, The Business rents the forklift direct from a forklift dealer.  The forklift business will invoice the business renting the forklift directly,  and all maintenance requirements are done directly between the business renting the forklift and the forklift dealer.

If a business has a need or a requirement for a forklift, there are many different ways that you can buy a forklift, and there certainly are different advantages and disadvantages to any way you want to do it. The best thing to do with talk to your accountant first before making a decision on financing or leasing a forklift.  Then talk to your local forklift dealer about what options they can provide you.

New or Used forklifts are also something worth considering for any business, any of the above methods of buying forklifts can apply to new or used. But the older the forklift the more restricted you might be with what you can do.

A final tip, if you do decide to purchase it out right with your own capital, make sure you discuss any warranty that might apply.

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Selling a USED FORKLIFT

Selling October 12, 2016

If you have decided its time to sell your forklift, weather its to upgrade your forklift, or maybe your business needs have changed.  There are many ways you can sell your used forklift., it can get a bit daunting, but here’s a few tips that might make it easier for you to navigate.

Know what its worth

Its simple, everything has a value, but it is pointless if you are trying to sell a Hyster H2.50DX for $20 000 when they are being advertised for sale as a used forklift for $10 000 in your area.

To get a gauge of what its worth, you can visit our listing page and search for similar makes and models of equipment, or even talk to your local dealer to get an idea.

Set a budget for selling

Forklifts sell just like cars, but you will need to spend a little bit of money of either getting it in shape for sale or possibly cost of advertising.  Weather it be an online portal such as ForkliftMarket , or through conventional sales methods such as newspapers, so make  sure you set a dollar value you are prepared to spend, you don’t want to spend $1000 in advertising, where you might get better value for $60 in an online ad.

What condition are you selling it in

As a private sale you really don’t need to worry about selling with terms, other then As is where is (make sure all safety features work – as a minimum condition) , but if you are a dealer, you really need to consider do you offer warranty,

Make sure you get the money

Its just like anything, when you sell, make sure you get the money of the purchaser.  At a minimum make sure you are sure if you are repairing it, to what condition you are repairing it to.  Do all safety features work, ie horn, lights seat belts, beepers.

Service records

Its all ways a good idea to give the buyer a copy of your service records, It can generate trust and show your not hiding anything that might be majorly wrong with your forklift.

So there they are the top 5 tips for selling your forklift, remember do your research and make sure you get the value you want.

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