Is it better to do a forklift trade in or should you try to sell your forklift privately? We'll help you answer that question in this post.
Wayco has over 40 years in the material handling industry and we would love to share our expertise and experience with you.
We'll list all the advantages of doing a forklift trade in and also give you some helpful advice so you can get the most out of your trade in. So, let's get going.
Learn why a forklift trade in is a great option
Advantages of Doing a Forklift Trade In
1. You Will Save Time
If you want a quick turnaround, then doing a forklift trade in as opposed to trying to sell your forklift yourself is definitely the way to go. This is especially important if you use your forklift in your business and you don't have a lot of time to invest in trying to sell it.
If you are using the profits from the sale to go towards upgrading your equipment, then you will immediately have the cash to put towards another model and your capital won't be tied up.
2. You Won't Have to Do Much
Another great advantage of doing a forklift trade in is that it requires very little effort on your part. Trying to sell your forklift privately on the other hand will mean that you have to take pictures, write up an effective advertisement, post your advertisement online, and then work with anyone who is interested in buying it.
You may have several people who want to come and see it before they decide to buy, so you will need to be available to show it to them and answer all of their questions. If you do a forklift trade in, then the dealer who takes your trade in will be responsible to put in all of the work necessary to sell it. It will be their responsibility, not yours.
Trying to sell your forklift online will take a lot of time and effort
3. You Will Have a Guaranteed Sale
If you try to sell your forklift privately, there is always the chance that you won't be successful. You could be stuck with a forklift that you just can't sell.
If, however, you trade it in, then you won't have this worry. The dealer will have taken it off your hands and you will have received an amount that you can use towards the purchase of a replacement forklift.
4. You Will Get Help to Find the Right Replacement
Trading in your forklift and then buying from a dealer means that you can take advantage of their expert advice. A reputable dealer will be looking to win you over as a loyal customer, so they will want to give you a fair price for your trade in and help you buy the perfect replacement forklift for your needs. That's how they can stay in business.
If they don't treat you right, then you won't do business with them again and you probably will let as many people as you can know about your bad experience. Reputable dealers will want to keep you as a customer and will want to maintain their good reputation.
On the other hand, if you decide to buy a forklift privately, the person selling may not treat you as fairly as a dealer who wants to stay in business.
A reputable dealer will treat you right in order to keep your business
How to Get the Most for Your Forklift Trade In
1. Give It a Good Cleaning
You probably won't be able to get your forklift as clean as it was when you first bought it, but making it look as clean as possible will help you get a better price.
Thoroughly wash all of the surfaces, inside and out, removing any dirt or visible grease. Take some time to clean around all of the components in the cab, including the seat.
2. Fully Charge the Battery
If it is an electric forklift, make sure that the battery is fully charged and functioning. After the charging is complete, add pure or distilled water to bring the electrolytes to the right level. Also, Including your charger with your trade in will increase the value of your forklift.
Some forklifts now have a convenient onboard charger so you won’t need your charger anyway.
The following video will give you some helpful tips for watering your battery
Learn how to safely water your battery after charging
3. Keep Your Forklift Well Maintained
A well-maintained forklift will fetch a much higher price than one that has been neglected. Make sure that you follow the manufacturer's guidelines for regular maintenance and have your forklift inspected at least once a year.
4. Trade in Your Forklift Before Its Value Drops Too Much
You will get the best value for your trade in if your forklift has been used for less than 10,000 hours and is less than 10 years old. After the 10,000 hour / 10 year mark, the value drops significantly, so it is better to trade it in before this.
Try to trade in your forklift before it is 10 years old to get the best price
Factors that Affect the Price of Your Forklift Trade In
There are many factors that will affect how much you get for your trade in. These include:
Capacity:
Forklifts with larger capacities sell for more than those with smaller ones.
Type of Fuel:
Electric and diesel models usually sell for more than Propane (LPG) models
Type of Tires:
Speciality tires that are in good condition such as non-marking, foam-filled or razor sipping will increase your price. If your tires need to be replaced then that could lower your price.
Hydraulics:
If you have extra hydraulic functions that accommodate attachments, then your forklift will be worth more.
Mast Size:
You can get a higher price if your mast is taller or is specialized
Extra Features and Accessories:
Having extra features such as outdoor cabs, non-standard accessories, and other special attachments will increase your forklift's value.
Supply and demand:
If there are more buyers than forklifts available for your particular model then you can get a higher price, but the opposite is also true. If there are lots of lifts available and fewer buyers interested then you may get less.
The type and condition of your forklift will affect its trade in value
WHY Trade in your Forklift to WAYCO?
If you are looking to sell your forklift in the Kitchener-Waterloo region, contact Wayco. At Wayco, we purchase used forklifts and surplus equipment and we will accept your old forklift as a trade-in.
We have been in the forklift business in KW for more than 40 years and we have earned a solid reputation for being trustworthy and fair.
If you need to replace the forklift you are selling, we can help. We have a wide selection of new and used quality forklifts to suit any budget.
Our knowledgeable staff will be able to help you choose the perfect model that will best suit your particular applications and we will accept your forklift as a trade-in towards your purchase.
WE ALSO OFFER:
Delivery of Your Forklift: We can even conveniently deliver your forklift right to you.
Financing: We also offer financing for both new and used forklift purchases.
Certified Vehicles: All of our pre-owned equipment is carefully inspected and certified.
Best Warranties: We offer an incredible 30-day front-to-back full warranty on our used forklifts that will definitely ease your mind when you buy.
Our new forklifts come with the best warranties in the industry. For example, most of our lithium-ion battery forklifts from Hangcha come with an incredible 10 year / 20,000 hour warranty!
““I have used Wayco twice, and both times I experienced excellent customer service . They had the right forklift for my needs at a reasonable price. I will be using their services in the future and recommend you do as well.””
