Used forklifts for sale – A buyer’s guide

How to buy a used lift truck

This buyer’s guide will assist you in purchasing a used forklift. When looking at a used forklift for sale, you need to consider several key factors to assess its value:

• Age
• Hours
• History
• Condition

Let’s go over the basics of each of these factors that contribute to the price and value of a lift truck.

What is the forklift’s age?

Age is a significant factor in determining the cost of a lift truck. A brand new lift truck will be valued at 100% of its book value, which is related to how much depreciation the truck has undergone according to the seller's records. Sometimes, you might get better value by purchasing a five-year-old truck with fewer hours than a newer model with more hours.

To assess the age of the truck you are buying, you can refer to serial numbers. On a Raymond forklift, the age is part of a two-digit code in the serial number. For example, the serial number might look like: EZ-99-AJ23679, indicating it’s a 1999 model.

For Crown forklifts, the age is stamped on the side of the mast in the format mm-dd-yy. Ask the seller for a photo of this information.

Toyota forklifts have model series numbers, such as 6, 7, or 8 series, which provide information on the features and age of the truck’s engineering and technology.

Hyster forklifts have longer serial numbers with a letter that represents the year of manufacture, which may require a guide to decode. Alternatively, the date of manufacture is noted on the spec plate.

Forklift hours on a used truck

In the same way that mileage determines the remaining life of a car, a forklift’s remaining life is often determined by the number of hours recorded on the hour meter.

On many electric forklifts, there are different hour meters that track usage of each motor, including the lift motor and travel motor, as well as deadman hours and key hours.

Key hours on a used forklift

Key hours measure the time the key switch is turned to “on.” On gas or LP forklifts, this corresponds to the running time of the engine. However, on electric forklifts, key hours can be inaccurate since the motors may not be running even when the truck is energized.

Deadman hours on a used fork truck

Deadman hours provide a more accurate measurement of actual work, as these hours are recorded when the operator stands on the deadman pedal inside the truck’s operator compartment, indicating the forklift is in use.

History of a pre-owned forklift

Understanding the history of the forklift is critical. Where has the forklift been used? How many shifts was it working? Was it in a rental fleet with minimal usage, or was it working multiple shifts in a demanding environment like a freezer? Was the forklift regularly maintained under a contract, or serviced on an as-needed basis? Maintenance records are crucial in determining the resale value of a used forklift.

Some factors can significantly impact the performance of a used lift truck:

Pallet truck performance impacts:

• Was it used on a dock?
• Was it used in a cooler/freezer?

Reach truck usage impacts:

• Was it used in drive-in racks?
• Was it used in push-back racks?
• Is there any play in the scissor mechanism?
• Are the base legs straight?

Order picker usage impacts:

• Was it used with rail-guidance or wire-guidance? (Rail usage can be harder on the truck)

Forklift usage location:

• Was it used indoors or outdoors?

Electric Forklift Usage Parameters:

• Is the forklift battery new or used? (A replacement battery can cost between $3,000 and $5,000)
• How old is the battery charger?

Propane issues:

• How much compression is left in the engine?
• Does it leak fluids?

Added costs to consider when buying a used forklift

When purchasing a used forklift, consider these potential additional costs:

• A full set of wheels and tires can cost up to $1,000
• A new battery can cost up to $5,000
• Repacking a lift cylinder with leaks can cost at least $1,000
• Replacing contactors can cost several hundred dollars
• New motor brushes can cost around $500
• A reconditioned motor can cost up to $2,500
• Blown circuit cards can cost up to $1,000 each (Crown forklifts may have as many as 8 circuit cards)

Feedback on this ‘used forklifts for sale’ guide

We hope this guide helps you know what to look for when buying a used forklift. If you have any questions or comments, feel free to reach out to us at [email protected].