How do you know when its time to upgrade your forklift?
If your machine has not been properly maintained and the repairs are adding up, it may be time for an forklift upgrade.
The decision of whether to upgrade should be driven by the goal of maintaining or improving your business goals. Each operation has a different amount of capital and revenue and the amount of labor performed by the forklift can vary from business to business. So the best strategy of getting the most out of your truck will vary as well.
There are two key signs that your forklift needs an upgrade:
- The cost of repairs exceeds the forklift’s value or expensive repairs will be coming up shortly, making selling it the most lucrative option.
- The forklift is about to exceed an operational threshold that significantly reduces resale value and limits the number of potential buyers.
Operational Threshold
There are two variables that directly influence the value of each and every forklift. They are its age and the number of hours it has been operated. These two important factors will determine the machine’s price and potential buyer numbers.
It’s very important to consider the many options buyers currently have in the market. Due to the economy and industrial bankruptcies, there has been an increase recently in forklifts being sold after less than five years of use. If the forklift that you are trying to sell is more then 5 years old, informed buyers immediately ask for a reduced price. With this in mind, it may be a wise decision to sell your forklift before it crosses this threshold.
In single shift operations, most forklifts work for 1,500 hours each year. This can vary depending upon the demands of your business. Calculating the hours you use the machine each year can aid you in determining the value of your machine and when to sell it.
Cost Of Repairs
Just like any other machinery, forklifts require regular maintenance. If your machine has not been properly maintained and the repairs are adding up, it may be time for an upgrade.
The most common repairs are usually the battery, transmission, and friction? but any component could possibly get damaged. Although there is no direct science to determine when to sell or trade to avoid unpredicted damages, certain signs can indicate an approaching disaster.
The Benefits Of Proper Timing
Properly timing your forklift upgrade can help you avoid unnecessary expenses and prevent industrial accidents. Here are some common malfunctions that can lead to injuries and lawsuits.
- Transmission or hydraulic system leaks
- Malfunctioning safety devices
- Forklift emissions
- Visibility obstructions or blind spots
- Brake malfunctions
- Steering malfunctions
- Clutch, shift linkage and transmission malfunctions
- Mast assembly malfunctions
With careful operation and proper maintenance, you can maximize the lifetime of your forklift. Knowing when and why to upgrade can prevent unseen costs and keep your business running efficiently and effectively.
Always remember when cost of maintenance exceeds replacement cost, It’s time for a New UniCarriers Forklift with the Best Warranty In Class. Ask your representative for more details #forkliftsinmiami from #dadelift and #MrEdValdes
It’s good to know that you might need a new forklift if repairs for your machine are starting to add up. My brother is looking into buying a forklift, but he doesn’t want to go through with the purchase until he knows about repairs and replacements for them. I’ll pass this information along to him for his benefit.