Buying a New Forklift: What You Need to Know

Buying a new forklift can feel overwhelming at times. With technology constantly evolving and lift trucks designed for every application, comparing the various options, price points, accessories, and attributes is time consuming. However, with a little upfront homework and a discussion with an experienced forklift dealer, you can simplify the process, avoid potential snags, and save money in the long run.

Let’s say you’ve already researched several lift truck brands and have chosen a reputable forklift dealer who’s conducted a site survey to understand the specifics about your operation. If the dealer provided a demo, perhaps you’re even ready to move forward and buy one. That’s great, but are you sure you’re getting what you need, not what you want — or what your forklift dealer wants you to buy?

Finding the right forklift for you

Here’s what Abel Womack would ask and what you need to know in order to ensure the solution you choose is the solution that best fits your business needs.

Technical Decisions

1. What is the forklift being used for?
   • Dock work
   • Storage
   • Transportation – moving pallet loads within a warehouse?
   • Orderpicking – at what rack levels?
2. What environment will the forklift operate within?
   • Pallet rack
   • Loading and unloading tractor trailers and delivery straight body trucks
   • Freezer/ambient
   • How wide are the aisles – what’s the rack layout?
   • How many hours/shifts will the new forklift be used?
3. What forklift options are required, and do they affect lead times?
   • What is the current lead time? Can we wait that long?
   • Forklift capacity – How heavy are the loads?
   • How high do we need/want to lift?
   • What are the battery specifications?
   • How many batteries will we need?
   • What type of power do we want?
     • Wet cell battery
     • Nexus thin plate lead acid
     • Lithium-ion
   • What type of charger and what voltage is best to charge the selected battery?
   • Does the application support opportunity charging?

Acquisition Options

1. Cash – 25% down with balance due at shipment
2. Lease
   • Get leasing approval
   • Decide if a residual lease, or capital lease ($1.00 buyout) is desired
   • Pay first and last lease in advance
   • What other leasing options are available? What about a flex lease?
   • Are there better lease rates for a forklift on a maintenance plan?
   • Need insurance certificate for many leasing entities

Maintenance Plans

1. Scheduled Maintenance (SM)
   • What is the recommended service interval?
   • Is there a minimum required?
   • What must be done in order to keep the warranty in effect?
2. Certified Fixed Price Maintenance (CFPM)
   • What’s covered – everything except damage, wheels, axles and wheel bearings
   • What’s the difference between this plan and scheduled maintenance?
3. Fixed Price Maintenance (FMM)
   • What’s covered – everything covered by CFPM AND damage (up to an agreed upon deductible)
   • What’s the difference between this and the other plans?

Delivery and Installation

1. Installation equipment – if specialized installation equipment is required, the dealer will provide it and it will be delivered to the installation site prior to delivery. If all that’s necessary is to install the battery, we use customer equipment.
2. Factory-certified Raymond technicians do ALL installations of Raymond equipment.
3. Installation usually takes from one to five hours, depending on the complexity and truck type.

Getting the right truck for the right job, optimized for your unique operations, is the ultimate goal. Our material handling experts at Abel Womack will be happy to assist you with new forklift pricing, maintenance plans, parts and any questions you have along the way.