Highest Quality Parts

Toyota forklift dealers are a one-stop-shop, full service forklift solutions provider.

Need some help? For further assistance or more information, contact your local Toyota Dealer.

Industry Leading Service

Increase your productivity, overall up-time and lifespan of your forklift.

How & When to Replace Your Forklift

(Read the video transcript here.)


Video Transcript
Speaker 1 (00:18):
Toyota forklifts are the top-rated forklift brand in many key areas, such as highest quality, most durable, most reliable, and highest overall value. A separate independent study also found that no forklift brand is considered safer than Toyota. But just like any car or truck, eventually, every forklift becomes too costly to maintain, and it becomes time to get a new one. So how do you know when it’s time to replace your forklift, and what are your options when you decide it’s time? Forklifts have two types of lives, useful and economic, and it’s important to differentiate between the two. The useful life of a forklift is the maximum length of time it will run despite the amount of money that might have to be poured into it to keep it running. On the other hand, the economic life is the length of time the forklift is usable before it becomes more costly than it’s worth.
Speaker 1 (01:11):
There isn’t a standard for a forklift’s economic life because it depends on how and where the forklift is used. But you’ll be able to tell when your forklifts starts costing you more than it’s worth, and that’s when it’s time to replace. When you reach the point at which the forklift starts costing you money, and it’s time to replace, you have various options for acquiring a new one. You can rent, lease, or own. If your old forklift spent most of its time sitting in the warehouse collecting dust, you might want to consider renting because it’s the most cost-effective option for short term or infrequent forklift needs. Plus, it frees you from the responsibility of maintenance and upkeep. However, if you operated your forklift frequently and will use it in a relatively mild environment, leasing is your best bet because it saves your cash flow and allows you to have the best equipment in your fleet at all times.

Speaker 1 (02:02):
When you lease, you also negate the opportunity to keep your forklift past the economic life threshold and into the useful life, which will ultimately cost you money. You also free yourself from the worry of having to sell you forklift when you’re finished with it because the Toyota dealership will take care of that for you. If neither renting nor leasing makes sense for you and your business, purchasing a new forklift is made simple through your local Toyota forklift dealer. And as an added bonus, your local dealer will come to your workplace and perform a site survey so you can be confident you’re buying exactly what you need. Regardless of whether you decide to rent, lease, or purchase new, one thing is for sure. You can trust your local Toyota forklift dealer to make sure you do it right. To learn more about your options for financing a new forklift or about whether or not it’s time to replace, visit ToyotaForklift.com to find your local Toyota forklift dealer.

Related Articles