When it comes to investing in a forklift for your business, the decision to buy new or used is pivotal. Each option comes with its own set of advantages and challenges. Among other things, this major decision can significantly impact your business’ operational efficiency, budget, and long-term success.  

A new forklift offers advanced technology, reliability, and fewer maintenance costs but comes with a higher upfront price. On the other hand, a used forklift provides a cost-effective solution but may require more frequent repairs and have a shorter lifespan.  

To help you with making this crucial decision, we’ve created the article below to guide you in exploring cost, warranty, lifespan, and the other factors you should consider when assessing a new or used forklift.  

Buying a New Forklift:  

Who should buy a new forklift? 

There are a number of different businesses that benefit the most from investing in a new forklift as opposed to a used forklift. If you are a business with high usage needs or operates in a high-demand industry like manufacturing, warehousing, or logistics, a new forklift could be a game-changer. Large organisations especially benefit from reliability and lower maintenance costs, while businesses with heavy usage needs can count on consistent performance without the headache of unexpected downtime. But most importantly, if you’re a business owner looking to future-proof your operations, investing in a new forklift means access to the latest safety features and innovative technology, keeping your workplace efficient and ahead of the curve and with an expectation of minimal downtime. 

Pros and Cons of a New Forklift 

There are some major upsides to buying a new forklift, but these must be weighed against other, unavoidable constraints in our businesses. In the vein of fairness, here are some of the pros and cons for comparison when seeking to buy a new forklift. 

Pros:  

• Reliability: New forklifts come with the latest technology and zero wear and tear, ensuring optimal performance of your unit and a clean usage history.  

• Warranty: Manufacturers typically offer extensive warranties for up to 5 years, covering major repairs for years, reducing unexpected maintenance costs down the line.  

• Custom Features and Attachments: Buying new allows you the freedom to customise and add to the forklift features to tailor to your specific operational needs.  

• Longevity: With proper maintenance, new forklifts can serve your business for a decade or more, being a great long-term investment.  

Cons:  

• Higher Initial Cost: The upfront cost of a new forklift can be significantly higher, which may need to be budgeted into your business costs. 

• Lead Time: If your chosen model (such as a custom forklift) isn’t readily available, there may be a lengthy waiting period between when you make the deposit on your machine and when you receive it. So, if your lifting needs are imminent, ensure you’ve got a plan for the interim. We can even help with this at Fork Force with our Short-Term Hire options. 

Buying a Used Forklift:  

Who should buy a used forklift? 

The used forklift market has taken off in the past few years – but it’s one to be wary of. Some used forklifts can still perform at a remarkably high efficiency and certainly can be kinder to your budget, but not all businesses are suited. Used forklifts are best suited to businesses that don’t require constant, high-volume forklift usage but still need reliable equipment. Small to medium-sized businesses in particular may be suited, as you may not have the capital to invest in brand-new machinery but still require equipment that can handle your operational demands. Businesses working with tight budgets often prioritise minimising capital expenditure while ensuring they invest in quality assets, making a well-maintained used forklift an attractive option. Additionally, companies with lower usage demands—such as those that only require a forklift for intermittent tasks rather than continuous, round-the-clock operations—can still achieve efficiency and reliability without the higher costs associated with purchasing new equipment.  

If you’re a business that only needs a forklift for a short-term project or to meet a temporary operational need, opting for a used forklift can be the most economical choice, allowing you to maintain productivity without committing to a significant financial outlay. Similarly, those who need a forklift immediately but intend to upgrade later down the track may find that purchasing a used model provides a practical and affordable interim solution while they plan for future expansion. At Fork Force, we often have hundreds of suitable used forklift options for small to medium sized businesses that can be prepped and delivered in just a few days or weeks, as opposed to some of the long wait times on a new forklift. 

Pros and Cons of a Used Forklift 

We’ve already outlined the pros and cons of a new forklift, so here are some of the pros and cons for comparison when seeking to buy a used forklift.
 

Pros:  

• Lower Initial Cost: Used forklifts are much more affordable, making them a great option for businesses on a budget.  

• Immediate Availability: Most used forklifts are ready to use immediately after purchase, convenient for business operations that need to start sooner.  

Cons:  

• Potential Maintenance Costs: Older forklifts may require more frequent repairs and maintenance, which may be more costly in the long run.  

• Limited Warranty: While many used forklifts come with warranties, they’re often shorter and less comprehensive than those for new models.  

• Unknown History of Reliability: The condition and past usage of a used forklift can be uncertain. Ensure you are purchasing from a reputable dealer (hint: you’re on the website of one) for any used forklift purchase.   

• Lack of customisation to your needs: Depending on the make and model of your used forklift, modern technology, upgrades, and attachments may not be suitable or even possible for your used forklift.
  

BONUS TIP: How to Assess the Condition of a Used Forklift:  

If you’re in the market for a used forklift, it’s crucial to know what to look for to avoid costly mistakes. Many buyers assume that a second-hand forklift automatically means great savings, but without proper due diligence, you could end up with hidden maintenance issues, excessive wear-and-tear, or even a machine that fails to meet your operational needs. Worse still, an unreliable forklift can lead to downtime, unexpected repair costs, and safety risks for your team. To ensure you’re getting real value for money, it’s essential to take a structured approach.  

By following these key steps, you’ll secure a quality used forklift that not only meets your budget but also delivers long-term reliability and efficiency: 

1. Inspect the Forklift: This one is a no brainer! Look for visible wear, rust, or damage, particularly on the tynes, mast, and tyres.  

2. Check the Hours: Review the total operating hours; lower hours of use generally indicates less wear.  

3. Review Maintenance Records: Ask for detailed service logs to verify consistent upkeep – a reputable seller will be able to provide this for you for transparency. If they don’t have records – avoid! 

4. Test Drive: It’s always a good idea to take your used forklift for a spin before you buy if you can. Operating the forklift yourself will help to assess its performance and match your needs, paying special attention to steering, braking, and lifting functions. If you can’t test drive – not to worry. Businesses like Fork Force provide a 1-year parts and labour warranty on most used forklifts, so you can rest assured that you’re covered just in case. 

In conclusion, the question of whether a new or used forklift delivers better value ultimately depends on your business’ operational needs, budget, and operational intensity. While new forklifts offer unmatched reliability and customisation with accessories and functions, used forklifts provide significant cost savings without compromising on quality – especially when sourced from trusted suppliers like Fork Force. 

Buy with confidence from Fork Force: 

Whether you’re expanding your fleet, or replacing outdated equipment, Fork Force has the expertise and inventory to help you make the right choice. Click on one of the links below if you’re ready to check out our range or give us a call on 1300 786 328 today. 

Buy Used Forklifts Here 

Buy New Forklifts Here 

Rent to Own Here 

Hire a Forklift Here