How to Get the Maximum Trade-In Value for Your Forklift
When it’s time for a new forklift, you naturally want a high trade-in value for your old equipment. Here are a few ways to ensure you receive top dollar:
Forklift Trade-In Value Factors
You wouldn’t buy a car that was old and barely running, the same goes for a forklift. Maintain your forklift well and you can expect a higher value when it comes time to sell. Have a TMH technician come by for a tune-up before the machine is evaluated for trade-in. It can make a huge difference!
Age / Hours
Just as low-miles increase a car’s trade-in value, a forklift with lower-than-average hours is worth more than one with a lot of hours. Read how we determine a forklift’s “age.”
When the hour meter approaches 10,000 hrs, the value starts dropping significantly. This goes for both electric and ICE (gas) forklifts. Here are some general guidelines:
- 7,500-9,500 hrs – higher trade in value.
- 9,500-12,500 hrs – decreased value
- 12,501-16,000 hrs – lower value
- 16,000+ hrs – lowest trade in value
That said, Toyota forklifts have a lifespan of 25,000 – 30,000 hours. So if the trade-in is a Toyota with more than 15,000 hours, you can expect to get something for it versus a non-Toyota lift truck.
For electric forklifts: battery maintenance is crucial. If the lift has dead battery, then it’s a dead forklift. If the battery is functional, including the charger will also increase the unit’s value.
Configuration and Accessories
What is the max-height of the mast, and what is its load capacity? Does your forklift have a side-shifter or fork positioner? Certain configurations make a lift truck more valuable. Be sure all accessories conform to OSHA stands. For example, if you use a truck-mounted clamp, it must have an interlock device.
Though you may not be able to get the truck looking like new, a nice-looking forklift matters. Clean up the machine as much as possible, think about when you do a “move-out” inspection on an apartment. If there is visible damage to the machine that can’t be fixed, dents and so forth, be prepared to explain what happened.
If you plan on trading in your forklift, maintain it well and prepare to let it go before the 10,000-hour or 10-year mark. Older forklifts aren’t worth much as they typically don’t meet EPA standards and may be considered a safety risk. Get a tune-up before your forklift is evaluated, and ensure the machine looks as nice as possible.
If you have a piece of equipment ready for trade-in, please contact us. To schedule service, click the red Schedule Now button below, or call our service dispatch at 800-527-3746.
We also buy your old pallet racking, industrial floor cleaning equipment, utility vehicles and aerial equipment. Request a bid and get paid fast here.