What to Do After Retiring Your Forklift

What to Do After Retiring Your Forklift

Forklifts are necessary material handling equipment for warehouses, distribution centers, and industrial work environments. Unfortunately, every forklift—regardless of its quality, make, and model—can lose a lot of its service value with time and continued usage. The key is to know when your forklift has reached its absolute limit. A licensed and experienced forklift dealer in Concord can inspect your forklift for you and help you determine the best course of action. 

When Is the Right Time to Retire Your Forklift? 

Once your forklift reaches the end of its lifespan, no amount of repairs or maintenance can help it recover. There are a number of factors that indicate when it’s time to let go of old faithful and move on to greener pastures. 

The Economic Life Exceeds Its Functionality 

There may come a point when the cost of repairing and maintaining your old forklift exceeds its functionality and service value. If you find yourself constantly having to repair or replacing forklift parts to the point where the cost of these repairs becomes more than what the machine is actually worth, it’s time to say goodbye. Part replacement and repair costs can really start to add up towards the end of a forklift’s lifecycle, especially if your forklift is frequently out of commission and you’re spending more time repairing it than using it. 

The Forklift Failed Safety Inspections 

According to the Occupational Health and Safety Act (OHSA), all material handling equipment should be inspected daily by a licensed operator. In fact, operators should inspect forklifts at the start and end of every shift and before each use to ensure that they’re in compliance with OHSA standards. If a forklift consistently fails safety inspections due to missing or broken parts or it’s deemed unfit for the current working conditions, then it should be retired immediately to ensure the safety of all warehouse workers. 

More Downtime than Uptime 

If your forklift spends more time in storage than actually being used because it’s incapable of handling the tasks you need carried out, then it’s time to consider replacing it altogether. There’s a difference between keeping your forklift in storage because you don’t need to use it and doing so because you can’t use it. The latter reason means it’s just taking up valuable storage space. Plus, it could be costing you more money to store a useless old machine than to just replace it with a new one. 

It’s Surpassed 10,000 Operating Hours 

Every piece of machinery has a maximum lifespan and service value. Forklifts that are nearing or have reached up to 10,000 operational hours are ready for retirement. Of course, certain circumstances can speed up the aging process. These include:

  • Hours of manual labour
  • Time it takes to complete each task
  • Work conditions in which the forklift is used 
  • Whether it’s used consistently or just once in a while
  • Frequency of inspections
  • Maintenance quality
  • The condition it was in when you originally bought it 

What Can You Do with a Retired Forklift?

When the service value of your forklift starts to rapidly decline and the cost of maintaining it gets to be too much, it’s time to say goodbye. There are several ways you can retire your old forklift and still get some value out of it one last time.

Trade It in for a Newer Model 

Just because your old forklift is no longer of value to you, that doesn’t mean that it’s completely worthless. Take it to a qualified used forklift dealer in Concord to get it checked out. After performing a thorough inspection, the engineers at the dealership should be able to assess the monetary value of the forklift in its current condition. If the cost of repairs or maintenance is too much, they might even offer to buy it from you directly or sell it on your behalf. While you’re there, you can also shop around for other new or used forklifts. Even if you break even on the trade-in, at least you don’t have to deal with an old broken-down forklift anymore.

Sell It for Scrap Metal 

The longer you wait to sell an old forklift, the more value it loses. Whether it’s just sitting in a storage unit taking up space or it barely functions, time is of the essence. Ideally, you should sell it right before it reaches its 10,000-hour operational mark to avoid the risk of having it break down on you. At this point, your best bet is to work with an experienced forklift dealer in Concord who specializes in selling material handling equipment. They can help you find the right buyer for your product and help you get a great deal. 

Downgrade Its Duties 

If you’re not quite ready to retire your old forklift just yet and think you might still be able to get some work out of it, then you might want to consider downgrading its duties. Use it for moving, retrieving, and storing small or lightweight loads until the time comes to officially retire it altogether. In the meantime, you should consider having a backup plan in place in case it breaks down while on the job. That way, you won’t be stuck without an operational forklift when you need one. 

What Options Do You Have for a Replacement Forklift? 

  • Used forklift rentals in Toronto. This is a great option if you only need to use material handling equipment once in a while or while finding a permanent replacement for your old forklift. You can even rent to own a forklift if you find one that meets all of your performance requirements and budget. 
  • Used outdoor forklift for sale in Toronto. Buying a slightly used forklift is a budget-friendly option to replace your old one. To ensure you’re getting the best possible value, go with a qualified used forklift dealer in Concord or Toronto. 

NovaLift Equipment Inc. is a leading forklift dealer in Concord and Toronto. We specialize in forklift repair, maintenance, and sales. Contact us today to learn about our flexible forklift rental packages.

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