You know the drill: use that old warehousing machinery until it’s on its absolute last legs! This is standard operating procedure for many warehousing companies, but the cost of maintaining an old forklift can actually be a lot more than if you just purchased a new one altogether.
If you have been using your old model for too long, here are five signs it’s time to buy the best forklift Australia has on the market:
Your current model is expensive to maintain
… and the cost keeps rising! You no doubt keep track of what you spend maintaining your machinery. This includes more serious repairs but also routine maintenance and service. This should be managed through accounting, but you can likely do this by simply going back through company expenditure.
Be sure to check out the annual maintenance costs and any ongoing patterns. Has the cost to maintain the machinery risen greatly in recent times? This is generally what happens with older vehicles, so be sure to keep an eye on the ongoing maintenance costs to see if your old vehicle is costing you a fortune!
It operates in tougher environments
Typical models have a lifespan of around 10 - 12,000 hours of operational time, although this number can be significantly shortened if operating in harsh environments, including that of abrasives and harsh chemicals.
Also, vehicles that operate in extreme temperatures - both hold and cold - will deteriorate faster. Finally, if it is used for multiple shifts in one day, its hours will rack up faster, meaning that its lifespan (in years) will likely be shorter than other models.
If it experiences dangerous malfunctions
If your model experiences multiple breakdowns it will not only cost a lot but it is actually quite dangerous! Electrical shorts, for example, can injure employees and not just damage the machine itself. This type of accident can cause serious injury to the victim, and can make your company liable for their pain and suffering - it’s simply not worth the risk!
Technology has advanced
The best forklift Australia has on the market will have advanced technology that may eclipse your current model’s efficiency. The thing about using older models is this: they generally still utilise internal combustion engines that cost far more than the likes of models with new fuel cell technology or electric operation.
Whilst forking out the expenditure to buy the vehicle in the first place may seem a little daunting, you will end up making that money back as you save on fuel, making this a much more cost-efficient option than keeping that old rig around.
The machine is fully depreciated
Depreciation does provide a tax deduction each year, but generally after five years a model becomes fully depreciated and you are no longer able to claim it on tax. There is absolutely no use in keeping around an old model and one in which you can no longer even claim depreciation.
So, if you are unable to continue claiming depreciation on your model, perhaps it is time to level up. This way, you can begin claiming depreciation again on a newer, higher quality model that also saves you on fuel costs.
If your vehicle is experiencing one, a couple or (imagine!) all of the above-listed problems, then perhaps it is definitely time to pick up a new model. They can make all the difference when it comes to working efficiently without overspending on fuel and putting your business at risk!