How Much Does a Forklift Cost?

The forklift is one of the most significant pieces of equipment on every job site. You can’t run a warehouse, factory, or construction site without it. Searching for the ideal forklift for your business requires an expert’s insight, especially if you wish to get the most bang for your buck.

You should evaluate several aspects like how much does a forklift cost, the weight capacity of the machine, the lifting height of the machine, how meticulous you need to be when choosing a lift truck, and whether you should purchase a brand-new or used piece.

It is essential to comprehend your business’ requirements, the amount of maintenance needed, and the difference between the types of forklifts that are available.

Average Cost of Brand-new Forklift

By matching your purpose to a forklift capacity, you will be able to save some cash. This avoids over-purchasing on sizes and features you don’t require.

With that in mind, here’s a quick summary of the four main types of forklifts and their notable capabilities and the estimated price for each.

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  • Sit-Down Counterbalance Forklift Trucks

Sit-Down Counterbalance is the most recognizable of forklift trucks, according to Breakaway Staffing Inc. It gives the highest height and weight capacity that commonly extend from 3,000- 80,000 pounds, and can go up to 120,000 pounds.

This Forklift can be utilized in everything, like construction, warehouse application, and in some critical weather condition.

An electric model goes for $20,000 – $35,000. An internal combustion model will go for $30,000 up to $100,000. The price depends on the capacity and type of Forklift.

  • Reach Trucks

Reach trucks are predominately intended for warehouses and similar indoor lift applications. It presents an ability to transfer whole pallets with weight capacities that reach from 2,500- 5,500 pounds. You can have this forklift for $17,000 to $30,000.

  • Pallet Jacks

Pallet jacks allow a person to transport a whole pallet of stocks while  {no idea what this means so no idea if it’s replaceable} or lifting a load on ground level to an area inside the warehouse. There are two major types of pallet jacks, the manual, and electrical models, both of which hold a capacity of 3,000 to 4,000 pounds. Expect these forklifts to cost between $2,400 to $11,000 for an electric model, and for a manual truck, $350{this seems too low but idk offhand} to $800. {Is it that this is hand powered? Because not what people may think of immediately as ‘manual’}

  • Order pickers

Order picker allows an operator to get items or supplies on shelves situated between eight and eleven feet in the air.

Its capacity may range from 400 to 700 pounds and even up to 3,500 pounds. Models may cost $5,500 to $6,000, but while that’s the average price of this type of forklift, they may fall in $3,000 to $10,000 range.

Costing Summary of New Forklifts 

TypeEstimated Cost
Sit-Down Counterbalance (Electric)$20,000 – $35,000
Sit-Down Counterbalance (IC)$30,000 – $100,000
Reach Trucks$17,000 – $30,000
Pallet Jacks (Electric)$2,400 – $11,000
Pallet Jacks (Manual)$350 – $800
Order Pickers$2,000 – $10,000

Average Costs of Used Forklift

If you require a forklift for your business, but cannot afford purchase a new one, consider buying a used forklift. If you know where to go and what to search for, you can get years of use out of a used forklift.

Another way is to rent or lease forklifts, if you don’t intend to use your forklift for a longer time frame.   

Costing Summary of Used Forklift 

TypeEstimated Cost
Sit-Down Counterbalance (Electric)$8,900 – $24,000
Sit-Down Counterbalance (IC)$7,000 – $40,000
Reach Trucks$1,500 – $8,000
Pallet Jacks (Electric)$1,900 – $6,000
Pallet Jacks (Manual)$80 – $250
Order Pickers$3,000 – $6,000

General Rules in Forklift Costing

  • The higher the operating capacity and a lift height of a unit, the higher the forklift price will be. It is vital to note that having knowledge about the typical dimensions and weight of your goods will let you engage with sellers to figure out the exact capacity you require.
  • According to com, an electric forklift is typically pricier than an IC or internal combustion forklifts, even they have identical specifications. This is because of its upfront cost, including multiple battery packs, battery swapping equipment, battery rechargers, and battery-charging space.
  • A brand may also affect how much does a forklift will cost. A successful brand is obviously costlier than a less popular brand. However, it may be because its technological advantages and superior machinery have allowed it to establish better production and efficiency.
  • Sometimes, a used forklift will not save your cash. Maintenance and operating costs could swiftly negate the initial savings you acquire.
strong forklift image

Where to Buy?

Forklifts for sale are not hard to find, especially if you know where to look.  You can shop around in your neighborhood, check the newspapers or ask around. The only concern with this way is that you are not sure what you’re having when you purchase from a private party, as there is no quality control and the machine won’t be under warranty.

Another smart approach is to search on the web. However, if you’re purchasing from a dealer who resides miles away from, you will likely to carry other burdens, especially if a problem will arise.

An ideal way to purchase a used forklift is to buy from an official forklift dealer. They provide an extensive variety of forklifts that are fresh out of the box, already used, or rentals. They will also help you distinguish what is best for your organization, a new or used model. They will discuss every aspect of the equipment and how much a forklift costs with you.

Finale

Purchasing a brand-new forklift is a big investment to make, and you should to ensure that you don’t buy more than what you require.

Keep in mind when purchasing a forklift, there are two decision to make: picking the best truck and choosing the right dealer.

When you have established your requirements, speak to an authorized dealer to get a professional opinion about the machine that will best suit your operation.

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