Forklift Trade-In Guide: How to Maximize the Value of Your Forklift ...

16 Jun.,2025

 

Forklift Trade-In Guide: How to Maximize the Value of Your Forklift ...

A forklift is the backbone of your productive operation. Like any piece of machinery, forklifts don't last forever. Eventually, the most valuable forklift may turn into a liability, spending more time in the repair shop than on the job. While the forklift may no longer suit your operation, it can be another fleet manager's gem.

You will get efficient and thoughtful service from HULKMAN.

A trade-in saves you from the time-consuming search for potential buyers and guarantees a smooth ownership transition. Like for any business transaction, you should come prepared. This forklift trade-in guide will help you determine the right time to trade, factors that determine the value of your used truck, and tangible ways to maximize the value of your trade-in.

Should You Trade-In Your Old Forklift?

Two main factors help you determine whether it's the right time to trade-in your forklift: age and maintenance cost.

First, determine the age of your forklift. Car owners tend to measure the age of their vehicles in miles. Some drivers replace their cars when the odometer reaches 100,000. Forklift age is measured in hours. A typical forklift lasts 10,000 hours. If you use a forklift 40 hours a week, they add up to 6 or 7 years. That said, your forklift's longevity depends on the quality of maintenance, operating conditions, how often the truck was pushed to its load limits, and the forklift's engine type. Electric lift trucks typically last longer than ICE forklifts.

The optimal time to trade in your used forklift is before it reaches the 10,000 hours or seven-year mark. 

You can get an idea of what your forklift is worth by performing a simple internet search. Then, you can weigh the resale value against your cost of ownership. Consider the resale number to be a benchmark: when the annual maintenance cost approaches or exceeds the resale value, it may be the time to trade in or retire your truck.

Here's how to determine the maintenance cost of your forklift per hour. Let's say you use a forklift for an average of 1,000 hours a year, and you spend $2,000 repairing it. The maintenance cost per hour is just $2/hour.

If the total repair bills reach $20,000/year, you end up with a $20/hour maintenance cost of ownership. In this case, it may be the time to decide if the forklift is still valuable to your business.

Costly repairs are preventable, so it's important to diagnose them early. Improper maintenance will shorten the life of your entire fleet over time.

What Affects the Value of a Used Forklift?

If you decide to trade-in your truck, it's essential to know what factors determine its value. Keep an eye on these areas to maximize your return.

Age / Work Hours

When trading your forklift, its age should be your first consideration. As mentioned above, you measure the age of your truck in hours. For a high selling price, your forklift should have less than hours. After the 10k hours mark, the value starts to drop significantly for electric and IC (gas) forklifts. Since most consumers won’t purchase a forklift with over 10k hours, the dealership has to invest more money into the unit to justify the resale price. No matter the condition of such a forklift, you will end up with a decreased trade-in value.

Intensity of Usage

It's essential to consider at what intensity you are using a forklift. Is it running for 2,000 hours or more annually? If so, your forklifts will wear out a lot faster than a forklift running for 800- hours.

Regularly lifting loads beyond forklift capacity and higher heights can generate more wear and tear, especially during those extra hours. Moreover, the amount of times the forklift had to be placed out of service plays a huge role in the trade-in value. Consider labor history as you get ready for a trade-in.

Battery Life

For electric forklifts, battery maintenance is crucial. A dead battery means a dead forklift. For electric forklifts, the battery must hold a charge. If the charger is included with the trade, it can significantly increase the forklift's value.

Mast Specifications & Accessories

The mast can be an important factor in determining your trade-in value. What is the maximum height and the load capacity of your truck? A forklift attachment like a side shifter or fork positioner decreases the forklift's maximum load capacity. The lift height stays the same. However, popular attachments can increase the value of your forklift. Any additional accessories, like bale clamps, roll clamps, forklift cages, fork extenders, or aerial platforms, will add to the forklift's resale value. 

Fuel Type

The most common types of forklift fuel sources are propane, diesel, electric, and LP (liquified petroleum gas or propane.) Used electric forklifts are generally worth the least because they usually require a brand-new battery or need to be reconditioned. LP forklifts typically have the highest resale value.

Appearance

While we're not supposed to judge the book by its cover, the appearance of your used forklift matters. The fewer dents and scuffs your truck has, the better. Any visible signs of damage should be accounted for. A thorough cleaning and a tune-up from a qualified technician can improve your potential sale price. If some damage can not be fixed, be prepared to explain any dents, marks, or scratches. Honesty is your best policy. Appearance is important, but it isn't the sole factor. Many buyers will prefer a well-functioning forklift over a perfect-looking truck.

Operating Environment 

Is your forklift exposed to harsh weather conditions or is it kept inside? Suppose your forklifts are generally exposed to dust, corrosive chemicals, excess water, cold, and other harsh environments. In that case, it will typically have a shorter shelf life than forklifts in climate-controlled warehouses.

Indoor and outdoor capability is also a determining factor. The more diverse the forklift, the more resale value it will bring. Forklifts customized for a specific application are more difficult to resell which can make it a less desirable trade-in. 

How to Maximize Your Forklift Trade-in Value?

Some factors that determine your forklift's value are out of your control, but there are proactive actions that help you get the most out of trading in your forklift.

Invest in Regular Preventative Maintenance 

Getting your forklifts serviced by certified technicians improves its performance and future resale value. Have routine checks and tune-ups to extend the forklift's lifetime and re-sellability. If you can provide proof of regular certified service, you can likely get more out of selling your forklift.

Keep all of your records of your equipment's service history, as well as a copy of your technician's certifications. Before you decide to trade-in your machine, have our technician quickly diagnose your forklift, and provide an idea of its market value.

Keep Your Forklifts and Accessories Organized 

Accessories can help boost the resale value of your forklift. Make sure that valuable inventory won't get lost. Organize your storage space for attachments, batteries and chargers, fuel tanks, and other accessories that can boost the value of your forklift.

Do Your Research 

When you know what your forklift is worth, you can be confident in getting the best trade-in value. If you settle on the first offer provided, you may miss out. One way to get an estimate is to look up the wholesale cost for the model. If your forklift is in good condition and has a reasonable number of working hours, most dealers will pay around the wholesale price. Once you have the wholesale price, think about the retail price and your prior investment in the forklift. Consider the factors described above when finalizing the price you're willing to sell or trade.

Are you interested in learning more about Lpg Forklift? Contact us today to secure an expert consultation!

Ensure Your Forklift Looks Good

A damaged forklift won't stand out. The dealer's perception of your forklift's condition will influence its value. Take your time to turn your used forklift into a desirable trade. Wash your truck thoroughly and remove any tools and personal accessories. Making an effort to present your forklift in its best shape helps you get a higher price. It also communicates to the dealer that you are serious about the trade-in.

You can reactively try to fix your forklift appearance, but it’s best to be proactive by not letting it get damaged in the first place. Proper forklift operator training will help you avoid accidents that devalue your trucks.

Prepare Maintenance Records 

Bring all the documents that show proof of ownership, receipt of purchase, and warranties that came with the forklift. Don't forget your maintenance records. They will help the dealer to appraise your forklift accurately and give you bargaining power. You'll be able to show what parts have been repaired or upgraded and that your operators drove it safely. 

Be Ready to Pitch Your Forklift 

Prepare yourself to "sell" a forklift to the dealer. Like any other business transaction, a trade-in should be treated professionally, so be ready to negotiate. Highlight the virtues of your forklift, starting with the most attractive features and moving towards the least. Be honest about any issues your forklift has. Meanwhile, research the estimated costs for any repairs needed to present them to the dealer.

If you want to get the most out of your trade, your negotiation must be reasonable and flexible. If you're too stubborn, a dealer is not going to give you a good deal. Remember that trade is not a sale. Your goal is to save money on the new forklift, not to make money off the trade-in.

Ready to Trade Your Forklift?

If the maintenance cost of your forklift is becoming too expensive, now is the time to trade it in for a brand-new truck. At Mid-Columbia Forklift and MidCo Material Handling, we're committed to delivering the best trade-in option our customers can count on.

Contact us online to learn more about the trade-up opportunities. You can also reach out to our team of forklift experts at the location nearest to you:

Auburn 253-854-
Pasco 509-547-
Wenatchee 509-663-
Yakima 509-457-

9 Tips & What to Look For When Buying a Used Forklift

Before you invest in a used forklift, it's a good idea to follow some used forklift inspection tips to ensure it's in good condition. There are a few things to check before buying a used forklift to verify everything works appropriately and lasts a long time. When you inspect the forklift appropriately, you raise the chance you buy a forklift worth your money.

These are our top inspection tips for used forklifts:

1. Check the Lift Chains for Cracks and Missing Parts

One of the first things to check on a forklift is the condition of the lift chains attached to the mast. These chains are responsible for lifting or lowering the forks, along with any loads on them. Since they play such an essential role in the forklift, it's crucial to take care of them.

To inspect these lift chains, you can start at the bottom and work upwards, looking for any cracks in the chains that could cause the chain to break. You'll also want to search for welding marks indicating the cracks were repaired, as a bad welding job could harm the mast's structural integrity. Additionally, you can inspect the middle of the mast, ensuring it doesn't have any corroded or missing pins and links.

2. Look at the Forks for Damage

Another major inspection practice is to check the forks for damage. Forks are one of the most vital parts of a forklift, as they provide a stable platform for lifting pallets and other loads. To begin the inspection process, look closely at the forks to see if there are any signs of wear, such as bends and cracks. You'll need to pay special attention to cracks, as they're a major sign you'll need to replace the forks soon.

Another important step is to check the thickness of the fork blade's heel. You'll want to compare the heel's thickness to the upright fork shank's thickness. If you notice that the heel doesn't have the same thickness as the upright fork shank, it's a big sign the forks have experienced wear.

3. Review the Battery's Power

Forklifts need their battery to operate, but the hours left on the battery aren't tracked. Before you make a purchase, you can ask the previous owner how long the engine has been in operation and how many shifts it was used for during the day. Since standard batteries last around five years when used for only one shift a day, you can calculate how long the battery's power has left based on the previous owner's usage.

You'll also want to look at the battery's general condition, looking for signs of damage such as acid leaking and corrosion. You can open up the battery's cells to see if they have enough water. Check the battery's data plate to ensure it has the weight and size necessary for the lift it's installed in.

4. Inspect the Engine's Condition

To check the engine's condition, begin by starting the forklift and having it run for a few minutes. Next, switch off the forklift and open up the engine compartment. Look at the hoses, seeing if they have any cracks or leaks. After the previous steps, check the engine oil by pulling the dipstick out, with a low oil level potentially indicating the engine has a leak.

Inspect the belts to ensure they're well lubricated and tight, without any cracks or wear on them. You'll also want to ensure the engine has clean air filters. For electric forklifts, it's important to ensure the battery connection are secure and in good condition. If you have a propane-powered forklift, check the bolts and tank brackets' integrity.

5. Ensure the Mast Operates Smoothly

The mast needs to be in good condition to safely raise and lower materials from the forklift. Begin by having the seller raise the forks to verify the mast's condition. If you notice that the forks have issues raising, the link chain could be damaged, or the mast rollers may be worn down, with lopsided mast rollers being a major sign of wear. Additionally, you might find that the previous owner hasn't properly maintained or lubricated the mast rollers.

6. Search for Leaks

Any leaks around the forklift could be a sign of damage. Check for leaks around the radiator, mast cylinders and transmission. If you notice leaks, make a note of them as they will result in extra repairs for you if you make a purchase.

7. Evaluate the Tires' Conditions

A forklift's tires should be in good condition, as replacing them could result in extra costs after purchase. Begin by looking for signs of chunking, where the tire looks like a bite has been taken out of it. Additionally, cracks or punctures in the tires are signs of damage.

Next, you'll want to ensure the tires have lots of tread left on them, as low tread will mean you'll have to replace the tires soon. Check each tire's safety-line or wear line to see if a tire's tread has gone past them, indicating they need replacement. When the tires don't have wear lines, you can look at the sidewall's lettering to see if the tread has reached the top of the lettering. If it has, the tires need to be replaced.

8.Confirm the Odometer Reading

It's crucial to check a used forklift's odometer reading, as the number of hours on it can give you a rough estimate of how long it'll last after you purchase it. Alongside looking at the hours used and comparing them to information about how long the forklift typically lasts, you'll also want to verify the odometer hasn't been reset. If you notice lots of wear on the main components and the body, but the odometer shows a low reading, the previous owner may have tampered with the odometer.

9. Verify the Safety Features Function Properly

Before you purchase a used forklift, you should keep your operator's safety in mind. Inspect the forklift to ensure the seat adjustments, levers, brakes, horn, seatbelt and lights all work. You can also look at the overhead guard frame, checking for damage that could put an operator in harm's way.

For more Electric Material Handling Machineinformation, please contact us. We will provide professional answers.