Our goal is to take away the uncertainty of leasing by providing realistic residual values for your forklift leases. There are so many factors to consider... Different brands, types, specifications and applications, just to name a few, that can drastically effect the residual value of every forklift. It is our job to consider these factors for you and take the guesswork out of the decision-making process.

For years now, the market has been relatively stable and predictable for all forklifts powered by gas, diesel, or LPG. Weight capacities, specifications, and specific brand name are the determining factors here. The ‘new’ technology is Compressed Natural Gas, or ‘CNG’. Be very careful with anything that runs on CNG. There are additional expenses involved with respect to a CNG forklift’s fuel system that doesn’t translate well in the used market. The key here is that the fueling system purchased to fill the tanks on these trucks must go with the forklifts, and it is quite expensive.

The forklift industry experts have been saying for over thirty years now that the electric forklift is the future. It may be, but not in the used market. In fact, only certain brands and models hold their value within the used market. Even when evaluating a specific brand and model, the specifications can affect the used value dramatically.

Therefore, I would offer three key bullet points to make your leases on electric forklifts more profitable:

• This is very important… consider every electric forklift as a three part deal: (1) truck, (2) battery, and (3) charger. Always keep the battery and charger on the same lease as the lift itself. Lifts that come off-lease 'chassis only' (without batteries & chargers) are extremely hard to deal with. Just to make them run requires an immediate investment by the potential buyer of several thousand dollars. Weighing in at an average of 8,000 pounds, they can’t be pushed.
• Next, try to make the term on all electric forklift leases no more than three years. Batteries generally have a life of 5-6 years. By having a three-year term, the potential buyer knows there is life left in a three year old battery. To try and understand this better, a new forklift battery costs an average of $4,000 each, which is also roughly the cost to re-build most internal combustion engines. If the term goes five years or longer, the buyer knows the battery is shot and near the end of its life. From a cost standpoint, buying a five year old electric is like buying a unit with an internal combustion engine that needs to be rebuild.
• Finally, don’t be afraid to walk away from a potential lease! Carefully consider our residual information and recommendations because they are based on many years in the forklift industry. Please feel free to call us anytime to discuss any of your potential leases in more detail.