The decisions to repair, retire, or replace your forklift are directly related to your operations as well as your bottom line.
So when, and how, do you know it is time to buy a new forklift?

The top six things to consider when deciding to retire and replace your forklift include:

Performance of the forklift

If your machine’s performance has steadily been declining and resulting in unexpected breakdowns even with regular repairs then replacing your equipment can help you save on maintenance costs, unexpected repairs, and even safeguard you against loss of operational hours. Frequent breakdowns, and reduced uptime are clear signs to retire your forklift.

Age of your forklift

Maintenance of aged forklifts costs you in repairs, loss of operational hours, and compromised operator safety. If your forklift model is over a decade old, has been in regular use for over seven years, or has logged more than 8,000 to 10,000 hours in usage, then it is safe to say that it is time you consider retiring your machine.

Maintenance costs of your existing forklift

As your equipment ages, the cost to keep it functional also increases. This cost comes in form of higher planned maintenance and unexpected repairs. Older or aged forklifts require an increased frequency in planned service schedules, so the costs of your planned maintenance go up. Unexpected repairs result in downtime which negatively affects your bottom line. These repairs may involve replacing defective parts or upgrading the machine’s components which could add to the overall costs of keeping the machine functional. If the maintenance costs on your machine have been rising in the recent times, then it is a clear indication that you should explore other options available on the market.

Trade-in value of your forklift

This comes into play if you trade in your existing machine when purchasing a new forklift. The longer you use your current forklift, the higher the maintenance costs climb, and the lower the trade-in value goes. The trade-in value of your machine is calculated based on a range of factors including the model, age, performance, condition of components such as the engine and the hydraulics, and the related maintenance costs.

Condition of your forklift

Regular wear and tear can leave visible signs on your machine in forms of cracks, dents, and deformations. Also, watch out for distorted forks, attachments and tires, and exposed wiring. While certain signs of wear and tear can be easily repaired, others end up costing you in the long run, adding to the maintenance cost of your current forklift. Repairs result in decreased uptime on your forklift and an increase in maintenance costs negatively affects your machine’s resale value.

Forklift technology

Forklift technology has been drastically improving in recent years. Different makes and models of forklifts now offer better operator safety, increased fuel efficiency or smoother electric performance, better batteries, and even improved telematics. If your forklift model is from a decade ago, or older then chances are that you are missing these pieces of innovative technology that can help save you on operational costs.

At Westerra Equipment, we offer several options that can help you upgrade your forklift and even your entire fleet with ease.

• Used forklifts – Our selection of Used Forklifts can help you make the switch with a lower price tag and if a machine is traded back, it can further reduce the price.
  
  
• Alternative energy options – Electric forklifts are the future and in case you are looking to move to an electric fleet or replacing your existing forklift with an electric one, choose from our range of various makes and models of Electric Rider Forklifts, Electric Narrow Aisle Forklifts, and even Electric Order Pickers.

• Leasing and financing on new forklifts – If budgetary constraints are holding you back from upgrading your machinery, then connect with us to discuss the different leasing and financing options that we offer. Browse through our selection of new forklifts and get the conversation started today.

• Forklift rentals – If you are not ready to make a purchase yet, you can consider renting forklifts to fill in the downtime caused by your current machines. We offer both long-term and short-term rentals on forklifts as well as rent-to-purchase options on certain new forklifts. So, make sure you pick the option that best fits your business needs.
  
  
• Planned maintenance – A Planned Maintenance program CAN extend the life of your forklift to ensure you get the best value from your purchase. The ongoing maintenance of a new, or used machine is critical to maintaining uptime, and ensuring your equipment retains the highest possible value.

Have more questions about how you can upgrade your forklift?
Contact us now and let us get the conversation started.