Questions to Ask Yourself Before Buying A Forklift
Buying a forklift can be a big decision. Before you go ahead and make a purchase, you should first ask yourself some questions to determine which forklift is right for you. In this article, we’ll explain which questions you should be asking to ensure you get the most out of your purchase.
What is my budget?
Forklifts are no flippant purchase; they’re hefty pieces of machinery that can sometimes come with an equally hefty price tag. Before you commit to your purchase, you should make sure that the forklift, and the maintenance required for it, fit within your budget.
If you’re unable to pay upfront, why not lease a forklift? Leasing a forklift enables you to use the forklift for as long as you need it — and at a cheaper monthly cost.
There is also the option to buy a refurbished forklift. This is a forklift that has previously been used but has been restored to near-perfect condition and is available to purchase at a discounted price.
What are my purchase options?
Choose between purchasing a forklift outright and leasing/hiring a forklift. Each option has its advantages:
- Good for businesses with a lot of capital on hand.
- Buying a forklift outright typically makes the most financial sense if you need it for the long term.
- You can add the forklift as an asset in your inventory, allowing you to borrow against it for other purchases or sell to finance new equipment in the future.
Lease/hire a forklift:
- Good for businesses that may not have as much capital on hand.
- Leasing a forklift typically makes the most financial sense if you only need it for the short term.
- It’s a way to try out a forklift or a forklift provider before committing to a full purchase
What lift capacity do I need?
Different forklifts have different lifting capacities. It’s important that you calculate how much weight your forklift will need to lift so that you can choose a model with suitable strength.
Some models have a lifting capacity of over four tonnes, whereas others can only manage a single tonne.
Will my forklift fit?
Consider how much space you have available in your warehouse or workplace. Even if you are only using the forklift outside, you should still have a suitable indoor space to store it. While indoor storage may not be mandatory, storing your forklift outdoors could expose it to weather damage.
Available space isn’t limited to height either. You want to consider the width of any forklift you wish to purchase and make sure it can navigate through any narrow spaces in your workplace.
How long will I keep the forklift?
Do you need the forklift for a temporary task or will it become a focal part of your business for the long term? Determining the amount of time you need the forklift for will help you to get the best bang for your buck. You’ll want to choose a supplier that offers flexible contracts so that you can acquire a forklift for however long you need.
If you’ve come to the conclusion that you’d like to purchase or hire a forklift, use a reputable supplier like East Midlands Forklifts. We have over 25 years of combined experience and offer on-site surveys and quick turnarounds. We deliver a wide selection of forklift trucks and parts across the East Midlands, including Nottingham, Loughborough and Derby.