Forklift Pricing 101: What You Should Know
The material handling equipment your company requires involves a large investment, so it’s understandable that you’d want to find the best value when purchasing forklifts. What are the forklift price factors you need to consider? Here, we offer some information to help you understand forklift pricing.
When you’re considering forklift prices, understand that the upfront cost is not the only expense. Consider the Total Cost of Ownership (TCO), or how much you’re going to need to spend on operating costs and maintenance. If you buy an inexpensive forklift, it can end up costing more in the long run than a higher-quality model.
The manufacturer can factor heavily into the price. Some manufacturers produce higher quality vehicles and have a better reputation for reliability than less-cost value brands.
The size of the truck has a major impact on forklift value. Bigger trucks require more materials in the manufacturing process, so they are more expensive than smaller trucks. Forklift capacity and mast size play into the cost, as well.
You’re going to pay more for extra features. If you want a full cab with heat, need extra safety features, want to paint your fleet a brand color, or you need features specific for your application, additional charges will apply.
The fuel type, tire type and hydraulic setup all make a difference. Electric forklifts typically cost more than forklifts that use liquefied propane gas or diesel fuel because you’re paying for your fuel up front by buying the battery with the forklift. The “TCO” is typically less for electric forklifts due to fewer moving parts. Diesel trucks cost more than LPG trucks, and LPG fuel costs less than diesel fuel. Cushion tires cost less than pneumatic tires but have a limited range of applications. Hydraulics have a standard set up and you’ll pay more for anything beyond that standard.
New and used forklift prices vary. When you choose to buy a pre-owned forklift, you may not always get a warranty, which could impact your budget down the line if your equipment needs to be repaired. It can be difficult to accurately assess the value of a used forklift, and there’s no protection if you make a poor decision. Buying a used forklift from a dealer is a much safer option because the dealership will typically put it through an extensive inspection and may offer you a warranty.
Consider buying the extended warranty. These raise your upfront cost but can quickly save you money if a part on your forklift malfunctions.
Our selection of new and pre-owned forklifts includes industry-leading brands, such as Caterpillar, Jungheinrich, Mitsubishi, Linde, CLARK and more. Given current supply chain challenges and inflation, it’s important to keep in mind that prices may steadily increase. At Fraza, we recommend speaking with one of our material handling experts to better navigate the forklift buying process and make the best decision for your business. Contact us today to take the first step toward upgrading your material handling equipment.