Your Komatsu forklift is built to last, but there comes a point with every vehicle, no matter how well it is made, when you need to decide whether or not to retire and replace it. Read on to help you determine when your Komatsu forklift is ready to retire. If you are wanting to trade in your Komatsu forklift, but are not in a position to purchase a new one, contact Wayco today and ask us about our rental option.
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When is Your Komatsu Forklift Ready to Retire?
To give you a better idea as to whether or not your Komatsu forklift is ready to retire, we’ve prepared ten detailed questions that you can ask in order to make your decision easier.
1. How Many Hours Has Your Komatsu Forklift Logged?
A forklift is similar to any other vehicle in that the mileage is a good indicator as to how much life it has left. Just as a car with a very high mileage is getting close to its retirement age, a forklift that has logged a large number of hours is closer to retiring than one with fewer hours logged. On average, a lift truck engine will last anywhere from 10,000 to 20,000 hours, with some lasting even longer.
2. Is Your Engine Electric or Internal Combustion (IC)?
In general, an electric forklift will be able to run more total hours than one that has an internal combustion engine. Electrically powered forklifts have fewer moving parts than IC engines. They don’t have pistons and crankshafts like internal combustion engines. Instead, they simply have a rotor that spins within a stator supported by a bearing. The electric engines require less maintenance and they usually last longer.
An electric forklift like this Electric Komatsu Forklift will generally last longer.
3. Under What Type of Operating Conditions Have You Been Using Your Forklift?
The conditions in which a forklift is used also plays a big part in how long it will last. A forklift that is operated indoors in a clean, dry environment, for example, will last much longer than one that is used outside, exposed to extreme heat and cold, or those that are used to carry dirty loads that can clog up and damage its parts.
4. What Tasks Has Your Forklift Been Doing?
The type of tasks that your forklift has been assigned to will also play a role in how long it lasts. If your truck carries heavy loads over multiple shifts then it will not last as long as one that carries lighter loads for single shifts.
5. Has Your Forklift Been Regularly Maintained?
Regular maintenance plays a key part in the lifespan of all forklifts, including Komatsu forklifts. If you have followed a properly planned maintenance program for your truck then it is going to last longer and run more efficiently.
Keeping your Komatsu Forklift well maintained will increase its lifespan.
6. Is Your Forklift Costing You Too Much to Maintain?
If you have purchased your forklift, then you may be tempted to keep it running as long as possible to “get your money’s worth”. However, this is not always the most cost-effective approach. It is important to pay attention to the maintenance costs of your truck. There will come a point when the cost to keep your vehicle running is much more than the value of hanging onto it.
7. Has Your Forklift Had More than 4 Work Orders for Maintenance in the Last 12 Months?
Newer forklifts will have predictable and relatively low maintenance costs. As a truck ages, those costs, which include both parts and labour, become more frequent and more expensive as components such as transmissions, engines, electronics, and drive motors begin to fail. Brian Markison, senior manager, national accounts for UniCarriers Americas Corp., suggests “looking at how many work orders (other than preventative maintenance) have been opened on the truck in a 12-month rolling period. If there have been more than four, the truck bears watching and may be a candidate for replacement.“
8. Are You Spending More than 10% of Purchase Price on Maintenance?
According to Michael McKean, manager of fleet sales and marketing for Toyota Material Handling U.S.A Inc., “If you’re spending more than 10 percent of the truck’s purchase price year after year on maintenance, then it’s no longer economical and it’s probably time to retire the vehicle.“
If maintenance is too high, it’s time to retire your forklift.
9. Has Your Forklift Become Less Productive?
If your truck is not as productive as it was, then it could be an indication that it is time for you to retire it. Some of the things to watch for that indicate less productivity are:
- Excessive downtime due to repairs
- Operators are unable to drive and handle their loads quickly due to poor ergonomics
- Operators need to slow their pace down because of inadequate safety features on the vehicle
- The truck is being used for a job that it wasn’t designed to do and therefore is inefficient in performing it
10. What Is Your Forklift’s “Book Value” Compared to Its Trade-In Value?
You may find that your accounting department would want you to keep your forklift until it has fully depreciated. This doesn’t always make the most financial sense. As a lift truck gets older, its trade-in value decreases considerably and is much lower than its “book value.” At the same time, its maintenance costs are also rising. There comes a point when it isn’t worth it financially to keep your forklift.
Keeping your truck until it fully depreciated may not be your best choice financially.
Take a Look at Your Options
1. Purchasing a New Forklift
If you have the capital, you may wish to look at purchasing a brand new forklift. The great advantage of buying new is that you will also be able to have the peace of mind of getting a warranty to go along with it. There a numerous different makes and models available so if you are unsure about which forklift is the best for your particular needs, ask a professional for advice.
2. Purchasing a Used Forklift
If you are on a tighter budget and don’t want to spend the money required to purchase a brand new forklift, you might want to consider buying a used one instead. Used forklifts cost less, however, you need to be careful that you are purchasing from a trusted dealer so that you get the best vehicle for the price you pay.
Purchasing used makes sense when you ‘re on a budget.
3. Renting a Forklift
A great option when you don’t have the immediate capital to purchase a new forklift is to rent one. Wayco’s rental program can offer you:
- Either short or long rentals
- Daily, weekly, and monthly contracts
- Competitive rates
- Various sizes and weight capacities to choose from (3,000 to 80,000 lbs)
- A Rent-to-Own program
- Hassle-free maintenance
Contact us today to find out more about renting the indoor or outdoor forklift equipment you need.
Wayco: For a High Quality Komatsu Forklift You Can Trust and Afford
If you are looking for a top quality Komatsu forklift, contact Wayco. We sell the best forklifts you can buy and our knowledgeable staff will be able to help you choose the perfect model that will best suit your particular applications. We will be happy to answer all of your questions and concerns.
“We purchased a used fork lift from Wayco in January. It was extremely clean and in excellent condition when it was delivered. We have also had incredible ongoing service from the professionals at Wayco. Overall dealing with them has been an excellent experience.” – Don’s Trailer Service
Read more testimonials here.