Is your forklift a valuable part of your operation? Just like a personal vehicle, you’ll want to get the most out of your equipment when the time comes to upgrade.
Whether you’re looking to sell or trade because of a change in business needs or an upgrade in safety features, we’ve put together a few things to consider when it comes to determining the value of your equipment.
Here are a few things our HODGE equipment experts consider when determining the value of trade-in equipment:
Well-maintained forklifts can expect a higher trade-in value.
Getting the equipment tuned up by a certified technician on a routine schedule and having maintenance records available can make a huge difference when it comes to determining the value of a forklift.
Similar to cars, forklifts depreciate as the hours increase and as the years pass by.
Trading in your equipment when it’s only a few years old and while it has lower-than-average hours can significantly increase the amount you’ll receive for a trade-in.
The ideal trade-in is less than four years old with 5,000 hours or less.
Usually, used LP forklifts will be worth more when it comes to resale value. This is because electric forklifts that are being traded in will likely need a new or reconditioned battery.
However, if the electric forklift’s battery and charger are included with the trade in that can increase the value.
If your equipment has additional accessories like a side-shifter or fork positioner, that will also increase its value.
The overall appearance of your equipment matters more than you might think. The fewer dents, scrapes, and dings the equipment has the better your trade-in value will be.
Often times, the appearance of a forklift is a good indicator of how well the equipment was taken care of.
What is the maximum lift height of your equipment? What size load is it capable of carrying? The specifications of your equipment will play a factor in determining the overall value of your trade-in.
Because of this inspection we’re able to fix any concerns and provide the buyer with a full, detailed report of maintenance.
Tell us about your trade in and one of our HODGE Equipment Experts will be in touch to schedule an onsite visit and discuss your options.
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