Interest rates and inflation are both rising. Economists believe that a major recession is imminent. In difficult economic times, businesses set stricter priorities, lower expenditure, cut costs, and/or postpone new investments. Toyota Industrial Equipment set out to help our supply chain and logistic customers understand how they can save money, survive, and weather the economic storm by raising awareness of its reconditioned forklift solutions in anticipation of an impending recession.
The phrase “refurbished” refers to the process of returning a used forklift to its original state. At Toyota Industrial Equipment, this involves overhauling and repairing the equipment piece by reassembling and replacing components to restore and prolong its lifespan. The forklift’s external components and appearance are given a fresh coat of paint to make it as good as new.
When comparing the cost of buying a new forklift, equipment managers in supply chain and logistics benefit significantly when refurbishing their existing equipment or purchasing used and reconditioned forklifts. If a used forklift is professionally reconditioned and done so by a reputable industrial and material handling equipment supplier, the reconditioned forklift will perform just as well as when it initially rolled off the production line.
Not every forklift can be refurbished. The type of forklift, its age and condition, and the size of the fleet is the most critical considerations for equipment managers.
If your forklift is so old that its safety features are outdated; the expense of forklift repairs has a substantial impact on output due to downtime; or if equipment failures are occurring, your forklift may not be suitable for reconditioning.
The easiest approach to find out if your forklift (or other material handling equipment within your fleet) may be reconditioned is to call our knowledgeable team to talk about it and get some advice. Contact us today on +27 (011) 395 0600 or contact us via our contact form at the bottom of this article.
Extending your forklift’s life expectancy by another 1 to 2 years and the tremendous cost saving of reconditioned forklifts compared to buying new forklift. This is often thought to be the main benefit to business; however refurbished forklifts increase the resale value of the forklift and also provide tax benefits to the business, depending upon how the business is structured.
A reconditioned forklift can be recapitalised on a depreciation schedule at half the value of a new machine.