How do I check a forklift dealer’s used-truck and parts inventory before buying?

A forklift dealer’s inventory is a yard of used trucks and a parts room, and neither is as simple as it looks. Some units belong to the dealer, some to a customer or a manufacturer, and some are rental trucks sitting on the lot. Parts sit on shelves for years. The books may list all of it as one number, so buyers need to look at the stock itself.

Count and age the used trucks

Walk the yard with the inventory list in hand. Match each truck to a serial number, a record of where it came from and its condition. Note how long each unit has been there. Trucks that sit unsold for a long time tell you something about the market for them, and about whether the books reflect reality. Ask how reconditioning costs are recorded.

Parts and obsolete stock

Parts rooms collect items for models no one runs anymore. Ask how the dealer identifies slow-moving and obsolete parts, and whether any have been written off. Sample shelf items against the list, in both directions: items on the list that are missing, and items on the shelf that are not recorded. An accountant can explain how inventory is normally treated in the books.

Consignment, manufacturer-owned and rental units

Ask which units the dealer does not own outright. Ask your accountant or lawyer whether consigned trucks and manufacturer-owned demo units count as the seller’s stock. Rental units may be mixed into sale inventory, so ask how they are tracked. Our page on reading rental fleet records may help with the rental side.

Agree the closing count

Inventory moves between the day you inspect and the day you close. Ask your lawyer to set out in the agreement who counts, when, using what method and how disagreements are settled.