Has your battle-tested and worn-out forklift neared the end of its life? Do you not know where to go from here? The good news is, you can move on from your forklift and still take something away from it. No longer do businesses have to ride their forklift into the grave before calling it quits. Trading a forklift in, selling it for scrap, or re-assignment are all options any business can choose to optimize outcomes at the end of the forklift lifecycle. Here is how your business can benefit from any of these choices:

1) Trade It In – It is a reality that forklifts depreciate rapidly once they are first operated. The same does not hold true when forklifts near the end of their life. In fact, the value of an archaic or aged forklift does not drop off drastically from that when you first purchase the vehicle and put into operation. For those fearing or dreading the potential take-back on their near-the-end forklift, trading it in and using that value to apply to new a purchase bodes tremendous upside. One key initiative to focus on is any form of incentive promotions. In some cases, equipment manufacturers or distributors may be seeking forklifts of a certain quality or caliber, thus providing owners with an opportunity to take advantage of a rare savory trade-in scenario.

2) Sell It For Scrap – Another way to make funds appear out of thin air is selling that old clunker for scrap. While sentimental value may be attached to the forklift for all the years spent together, selling it for scrap can yield income you would have otherwise not expected. Many forklift engine parts are composed of metallic components which are in high demand, resulting in high potential yields. Visiting a scrap yard to acquire an estimation can derive and ascertain the potential value of your forklift. Most of this of course is predicated upon demand.

3) Reassign – According to Hyster, another option is to reassign your old forklift. With respect to the fact that it may not be able to stand up to the constant grind of continuous daily operation it may still be useful for light duties and a variety of miscellaneous enterprises. It has also been determined that re-assigning an old forklift may be more cost-effective than trying to sell it or scrap it, in some cases. Experts decree that reassignment may need to be evaluated when the operational costs of keeping the appliance in working order outweigh the value it is delivering. However, this is a far more prudent option than simply keeping the forklift due to lack of any other options. Even if the forklift is used for the most menial of errands, it still bodes more value and efficiency to put it in use than to not use it all. Thus re-assignment is an excellent choice if the first two options here are not on the table.