Price is one of the most important factors that is considered while making a purchase. It becomes crucial to find the best price for a quality product, especially when buying heavy machinery such as a forklift. Let us look at how the price of a forklift is determined by local forklift services.
How is the Price of a Forklift Determined?
Like most equipment, a local forklift service uses numerous factors to determine the price of a forklift. The main factors used for pricing are:
Capacity
Mast size
Hour meter reading
Hydraulic setup
Features
Fuel type
Configuration
Accessories
Tire type
Capacity
What is the capacity of the forklift? The higher the capacity, the higher will be the price. This is because more material is needed to manufacture a truck with a higher capacity.
Hour Meter
In dealing with heavy equipment mileage is not a concern as it would be with an over the road vehicle. Instead, the hour meter reading is the measure of life cycle of the machine. This is an important instrument as service intervals are often based on 100 to 300 hour of operation intervals. Fuel type plays a factor in the time frame, but we can get into that in another blog. The lower the hour meter reading, the better the odds of acquiring a quality used piece of equipment.
Fuel Type
The most common fuel types used by forklifts are diesel, LPG, and electric. Electric forklifts cost generally more than other types of fuel. In electric forklifts, you need to pay for the fuel upfront in the form of a battery. Diesel forklifts cost more than LPG as they are manufactured with more durable and heavier parts.
Mast Size
Usually, the 189” three-stage mast is the standard when it comes to forklifts. If you opt for a taller forklift, it will need more material to be manufactured and the price will be higher.
Tire Type
Forklift tires range from solid foam-filled, air-filled pneumatic, non-marking, razor-siping, and cushion. Air-filled pneumatic and black cushion tires are the standards for most forklifts. If you want a different option, you will need to spend up to even $4000 to get them.
Hydraulic Setup
Forklift trucks come with a standard single internal hosing and a 3-way hydraulic valve. The hydraulics of these trucks are configured to tilt and lift the mast and a side-to-side shifting action. If you want to get something fancier such as a slip-sheet attachment, paper roll clamp, and a side shifting fork positioner, you will need to pay a little more.
Features, Configuration, and Accessories
If you want a forklift with more features of a specific configuration, the cost of your truck will increase. Some examples of these upcharges are:
Cab: A full cab with a heater installed
Paint: A custom color scheme such as the colors of your company
Specialized options: Cold storage packaging during freezer applications, EX, EE, ES-ratings to work around hazardous materials
Accessories: Red and blue zone safety lights, suspension seats, and LED headlights.
All of these specialized features are getting popular because of their added ergonomics and safety. But opting for these configurations and features will increase the price of your forklift.
Condition of the Forklift
The condition of the forklift is one of the most important factors that impact the price determined by a local forklift service. Forklifts from destructive or dirty environments, like food processing plants, foundries, and chemical factories are often in a bad condition. You should also consider any minor repairs that have been made to the forklift.
Most sellers don't make major repairs before putting up a forklift for sale. If the truck is not in great condition, its price will be less. Sometimes you will be able to determine the condition of the forklift by looking at its pictures. Check if the truck has damaged components, has excessively worn-out tires, extensive rust, and is tough.
When buying a forklift, you need to be aware of any “great deals” that you might find online. You may be able to find cheap trucks, there might not be much quality to the product. A great and reliable alternative is to opt for a local forklift service.
The majority of our used equipment that we offer are units that we have acquired through our dealership and have spent their existences as rental units. The benefit to this is that the nature of the business allows for the customer to just make a phone call should the machine need any repair work.
That combined with an in-house maintenance program guarantees that these machines, regardless of the application, are being meticulously maintained throughout their rental term. End of lease machines are also a good source of quality used equipment.
They are often leased with a built in maintenance plan and the operators should be doing daily inspections on these machines in order to look after the investment. What this means to a buyer is that most often they can pick up a 3-5 year old unit in good condition, with good maintenance records due to that fact that most leases stipulate that the unit be returned in operating condition.
Regardless of where we obtain these machines our techs are trained to inspect each machine and address any possible issues before the unit is returned to work.
We pride ourselves at Permian Machinery where you will be able to get a quality product per your needs at the most affordable price - no matter what.