Should You Trade in or Repair Your Old Forklift? A Guide for Ontario Businesses

The Dilemma- Trade in or repair

Whether it’s the construction zone or the warehouse center, material handling equipment holds immense significance. They not only help transport large pallets and bulk materials from one place to another but also ensure safety. With no manual work needed, workers can maintain streamlined workflows and speed up the operations. 

Owing to these cumulative reasons, businesses all around Ontario ensure to keep the machinery fleet in its optimal condition. Only by doing so can they achieve maximum uptime and frictionless operations.

A forklift, be it an electrical one or a gas one, is one of the most important material handling equipment units. That’s why you need to make the right call once it gets old. Sometimes, repairing aging machinery is not the best option. Take the engine failure as an example. If the parts damaged are not locally available, the repair work would incur heavy costs. In such situations, you have to think about a workaround. That being said, here, we will explore whether you should go for a trade in or repair of your old forklift.

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Signs Your Forklift Might Be Beyond Repair

Frequent Breakdowns and Increased Repair Costs

Constant breakdowns of the old forklift are a clear sign that it’s time to think beyond repair. Sometimes, fixing the damages becomes more of a liability, especially when the machinery spends more time at the service center rather than on the floor. Here are a few signs associated with frequent breakdowns that indicate no more repairs are needed. 

• Regular mechanical failures continue to disrupt operations.
• Increased downtime is affecting the delivery schedules and overall productivity. 
• Rising repair costs that somehow exceed the equipment’s purchase cost.
• Technicians are advising frequent part replacements. 
• Inconsistency in performance after repairs. 

Difficulty Sourcing Parts for Older Models

When you buy used forklift, the parts already suffer from varying degrees of wear and tear. Hence, they are more susceptible to frequent damage. Most often, sourcing these components becomes challenging due to unavailability. Manufacturers often discontinue spare part manufacturing for older or outdated models. Under such situations, you should really think about options rather than repair. For example:

• Too much dependency on refurbished or secondhand parts
• Spare parts required are no longer manufactured or supported
• Longer lead times to acquire even the most basic components
• Rising repair costs due to forklift parts scarcity

Outdated Technology or Poor Fuel Efficiency

Deciding whether to trade in or repair an old forklift is indeed challenging. So, look for the following signs related to outdated technologies that are a red flag. 

• Limited ergonomics for material handling that puts the operator in an uncomfortable situation.
• Higher fuel consumption due to worn-out parts and poor battery performance. 
• No support from telematics or smart diagnostic systems in older models. 
• Slower performance even after repairs and a reduction in lifting capacity. 
• Incompatibility with the newer warehouse systems. 

Safety Concerns or Compliance Issues

Lastly, repair won’t be the best option if the forklift poses safety concerns. For example:

• Non-compliance with the local regulations and OSHA
• Missing or damaged safety rails and guards
• Unreliable hydraulics, brakes, and steering system
• Operators are complaining about handling ease and visibility
• Difficulty in passing the regular safety inspections

When Does It Make Sense to Repair Instead of Replace?

Minor Mechanical Issues or Single-Component Failure

Smaller or isolated issues are a go-ahead for searching for a forklift repair near me. For example, issues like a faulty sensor or a hydraulic leak involve a few parts only, which is why repairing is more economical. These usually do not impact the forklift’s performance or safety standards. Hence, you can invest in the repair services and reduce the downtime easily. 

Newer Models Are Still Under Warranty

If the forklift is relatively new and still under the manufacturer’s warranty, go for a repair. The coverage will reduce the overall expenses significantly, ensuring you won’t have to bear the heavy costs. Besides, sourcing the spare parts for newer models is simpler due to higher availability. 

Low Overall Usage or Specialized Use

If you use the forklift less frequently or only for a few dedicated operations, find a provider for heavy equipment repair near me. As long as the machinery continues to deliver peak performance without regular breakdowns, repair is the best option. Besides, proactive maintenance routines will help keep the forklifts preserved and proper condition due to less wear and tear.

Cost Comparison: Repair Vs Replacement

Also, repairing would be the best option in case the projected replacement cost is way more than your budget. In other words, check if the proposed repair estimate is within 50% of the current forklift’s market value. If yes, go for a repair and not a replacement, as it would be more economical.

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The Benefits of Trading in Your Old Forklift

Get Credit Towards a Newer or More Efficient Machine

Trading in the old forklift will give you immediate funds for purchasing a new one. You won’t have to worry about selling it independently or facing any financial strain. In other words, you can easily upgrade your fleet with a new forklift and maintain operational efficiency. 

• Avoiding the hassles of independent resales
• Reduced upfront investments
• Boosts the overall ROI on outdated equipment
• Simplified machinery fleet upgrade option

Reduce Maintenance Costs and Unplanned Downtime

Trade in will also greatly reduce the maintenance costs of material handling equipment parts. You won’t have to worry about any type of unplanned downtime or stalled operations. The newer models will keep the work up and running, minimizing business disruptions. 

• Improved reliability 
• Lower repair costs
• Reduced operational downtime
• Eliminate hard-to-source spare parts

Access Newer Features: Energy Efficiency, Better Maneuverability, Improved Safety

Most modern forklifts are equipped with the latest technologies and advanced features. These contribute towards higher energy efficiency, better safety, and improved maneuverability. So, trading in your old forklift will help you purchase such a beneficial model for your fleet. 

• Enhanced battery efficiency and optimal fuel consumption
• Increased safety for your workers
• Compliance-ready features 
• Better control and ergonomics for streamlined handling

Opportunity to Scale Your Fleet with the Latest Models

Trading in the older forklifts paves the way for an economical fleet upgrade with the latest models. You no longer have to worry about operational efficiency and employee productivity. In addition, modern models can be easily integrated with most warehouse systems used nowadays. 

• Ensures maximum system compatibility
• Simplified maintenance routines and workers’ training
• Supports faster business growth
• Standardized equipment across all operations

How Does Zenith Canada Make the Trade-In Process Easy?

We, at Zenith Canada, aim to make the trade-in of an older forklift easy by:

• Evaluating your current forklifts for free and listing down the damages 
• Offering competitive valuation for most models and configurations
• Expert assistance with disposal, financing, and logistics
• Large inventory of well-maintained material handling equipment parts and reconditioned forklifts

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Compare Your Options: Quick Decision-Making Chart

Criteria	Repair	Trade-In
Low cost of repair	✔️	❌
Age over 10 years	❌	✔️
Frequent breakdowns	❌	✔️
Hard-to-find parts	❌	✔️
Still under warranty	✔️	❌
Upgrading fleet needed	❌	✔️

Make the Smart Choice for Your Operation

As we have discussed the values of both repair and trade in, it’s time you decide which will be an economical choice for your business. Weigh the pros and cons of both workarounds to reach a conclusive conclusion. If you need any further help with choosing between trade in or repair, consult our experts at Zenith Canada now.

Whether you choose to repair or trade in, Zenith Canada has your back.

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