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How Much Is a Forklift?

If you’re in the market for a forklift, you may be wondering how much you can expect to pay. In this blog post, we’ll go over the cost of different types of forklifts and what you need to consider when budgeting for a forklift.

Factors That Affect the Cost of a Forklift

Several factors can affect the cost of a forklift, including the type of forklift, its capacity, its age, and its condition. Here are some key considerations to keep in mind when determining how much you can expect to pay for a forklift:

  • Type of forklift: Different types of forklifts are suited to different tasks and environments. Some of the most common types of forklifts include counterbalance, industrial reach truck, rough terrain telescopic handler, narrow aisle, side loader, pivot steer, pedestrian pallet truck, and vehicle-mounted lorry loader. The cost of a forklift will vary depending on the type that you choose, with some types being more expensive than others.
  • Capacity: The capacity of a forklift refers to the amount of weight that it is capable of lifting. Forklifts are available in a range of capacities, from small units that can lift a few hundred pounds to large units that can lift several tons. The cost of a forklift will generally increase as its capacity increases.
  • Age and condition: The age and condition of a forklift can also affect its price. Newer forklifts will generally be more expensive than older ones, although this may not always be the case depending on the specific model and other factors. Similarly, a forklift that is in good condition will generally be more expensive than one that is in poor condition.

Types of Forklifts

Now that we’ve covered some of the factors that can affect the cost of a forklift, let’s take a closer look at some of the different types of forklifts available:

Counterbalance forklift

A counterbalance forklift is the most common type of forklift and is suited to a wide range of tasks. It is characterised by a counterweight at the rear of the machine, which helps to balance the load that is being lifted. Counterbalance forklifts are available in a range of capacities and can be used indoors or outdoors. The cost of a counterbalance forklift will depend on its capacity and other factors, but you can expect to pay anywhere from £5,000 to £20,000 or more for a new unit.

Industrial reach truck

An industrial reach truck is a type of forklift that is designed for use in narrow aisles and tight spaces. It is characterised by its ability to reach out and lift loads that are positioned at height. Industrial reach trucks are typically used in warehouses and distribution centres and are available in a range of capacities. The cost of an industrial reach truck will depend on its capacity and other factors, but you can expect to pay anywhere from £5,000 to £20,000 or more for a new unit.

Rough terrain telescopic handler

A rough terrain telescopic handler is a type of forklift that is designed for use on rough or uneven terrain. It is characterised by its ability to lift and move loads over rough surfaces, and it is often used in construction, landscaping, and other outdoor industries. Rough terrain telescopic handlers are available in a range of capacities and can be quite expensive, with prices ranging from £30,000 to £50,000 or more for a new unit.

Narrow aisle forklift

A narrow aisle forklift is a type of forklift that is designed for use in narrow aisles and tight spaces. It is characterised by its ability to manoeuvre in confined areas and its ability to lift and move loads at height. Narrow aisle forklifts are typically used in warehouses and distribution centres and are available in a range of capacities. The cost of a narrow aisle forklift will depend on its capacity and other factors, but you can expect to pay anywhere from £5,000 to £20,000 or more for a new unit.

Side loader forklift

A side loader forklift is a type of forklift that is designed for use in tight spaces and is characterised by its ability to load and unload cargo from the side of the vehicle. Side loader forklifts are often used in shipping and receiving operations and are available in a range of capacities. The cost of a side loader forklift will depend on its capacity and other factors, but you can expect to pay anywhere from £5,000 to £20,000 or more for a new unit.

Pivot steer forklift

A pivot steer forklift is a type of forklift that is characterised by its ability to pivot or turn on its axis. This makes it well-suited to tight spaces and makes it easier to manoeuvre in confined areas. Pivot steer forklifts are available in a range of capacities and are often used in warehouses and distribution centres. The cost of a pivot steer forklift will depend on its capacity and other factors, but you can expect to pay anywhere from £5,000 to £20,000 or more for a new unit.

Pedestrian pallet truck

A pedestrian pallet truck is a type of forklift that is designed to be operated by a pedestrian. It is characterised by its small size and its ability to lift and move pallets in tight spaces. Pedestrian pallet trucks are often used in warehouses and distribution centres and are available in a range of capacities. The cost of a pedestrian pallet truck will depend on its capacity and other factors, but you can expect to pay anywhere from £500 to £2,000 or more for a new unit.

Vehicle-mounted lorry loader

A vehicle-mounted lorry loader is a type of forklift that is mounted on a truck or other vehicle. It is characterised by its ability to lift and move loads over long distances and is often used in the construction and landscaping industries. Vehicle-mounted lorry loaders are available in a range of capacities and can be quite expensive, with prices ranging from £30,000 to £50,000 or more for a new unit.

Mobile elevating work platform 

A mobile elevating work platform, also known as a cherry picker or boom lift, is a type of forklift that is designed to lift and move people and equipment to heights. It is characterised by its ability to extend and reach high areas and is often used in the construction and maintenance industries. Mobile elevating work platforms are available in a range of sizes and capacities and can be quite expensive, with prices ranging from £10,000 to £50,000 or more for a new unit.

Renting vs. Buying a Forklift

In addition to considering the cost of different types of forklifts, it’s also important to consider whether you want to rent or buy a forklift. Renting a forklift can be a good option if you only need a forklift on a short-term basis or if you are unsure about which type of forklift is best suited to your needs. Renting a forklift can also be a good option if you don’t have the upfront capital to purchase a forklift outright.

On the other hand, buying a forklift can be a good option if you need a forklift on a long-term basis or if you are confident that you have identified the right type of forklift for your needs. Buying a forklift can also be a good option if you have the upfront capital and are comfortable with the ongoing maintenance and repair costs that come with owning a forklift.

When deciding whether to rent or buy a forklift, it’s important to consider your budget, your long-term needs, and the ongoing costs associated with each option. By weighing these factors carefully, you can make the best decision for your business.

Conclusion

In conclusion, the cost of a forklift will depend on a range of factors, including the type of forklift, its capacity, its age, and its condition. There are several different types of forklifts available, each of which is suited to different tasks and environments. When deciding whether to rent or buy a forklift, it’s important to consider your budget, your long-term needs, and the ongoing costs associated with each option. By taking the time to research your options and make an informed decision, you can ensure that you get the right forklift for your needs at the right price.

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