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What Determines the Cost of a Forklift?

Forklifts can be a great investment for your business if you find the right trucks at the right price. The cost of a forklift can vary considerably depending on its features, age and condition, but there are options if the truck you’re after is a little outside your budget. For example, you might wish to get a used forklift or hire a forklift for a shorter period of time. There are many options to consider when investing in a forklift, but we’re here to make your choice a little bit easier.

In this article, we’ll explain what factors determine the cost of a forklift — and how you can get the best bang for your buck.

What determines the cost of a forklift?

Brand

One of the most significant factors determining a forklift’s price will be the brand. Forklifts are made by a variety of different brands, each using their own manufacturing processes, materials and setting their own price points. High-end brands boasting the highest quality materials and advanced features will naturally cost more. Similarly, brands that are known as hallmarks of quality may charge more for the extra peace of mind that comes from buying a reliable piece of equipment.

At East Midlands Forklifts, we stock forklift trucks from some of the world’s most reliable brands, including:

Age

As a forklift ages, its price naturally decreases. What might have once been a top-of-the-line truck will likely have been succeeded by newer models with additional features and capabilities. Older trucks also lose value because they are nearer the end of their life. They might require more frequent maintenance or not work quite as well as they once did. 

But that’s not to say that older trucks are useless. In fact, many older models will be perfectly suitable for the needs of many businesses. Choosing an older model, especially a second-hand older model, is often a great way to obtain the forklift capabilities you need but at a reduced price. At East Midlands Forklifts, we maintain and service our used forklifts to ensure that they are in perfect working condition and ready for their next owner. With over 25 years’ combined experience, you can trust our experts to ensure every used forklift is ready to be used once more.

Power type

Forklifts may be powered via electricity or combustion engines. Electric forklifts tend to cost more, but also require less maintenance and therefore have lower associated costs. But costs shouldn’t be the only reason you choose one source of power over another. You should consider whether an electric forklift or combustion engine is suitable for your needs. For example, it isn’t recommended that you use combustion forklifts in small, enclosed spaces due to the health risks associated with the exhaust fumes.

Size

When it comes to forklifts, size matters, and you’ll generally find that larger forklifts come with a larger price tag. In addition to them usually being more expensive to manufacture, larger forklifts also tend to have greater lifting capacity, giving you greater capabilities than smaller trucks.

Attachments

You might need attachments for your forklift depending on the type of lifting you’ll be doing. Attachments are an additional cost that you’ll need to consider if you’re buying them separately. You’ll need to make sure that any forklift you purchase or hire is compatible with the attachment you need. Forklifts that offer multi-purpose handling tools may cost more for the additional capabilities.

East Midlands Forklifts offers a range of new and used forklifts to buy outright or hire on flexible contracts. We stock trucks from all the leading brands, guaranteeing you quality and reliability with every purchase. In addition to supplying the forklifts, we also provide expert maintenance and servicing to ensure that downtime is kept to an absolute minimum.

We serve customers across the East Midlands, including Birmingham, Nottingham and Derby.

Find your perfect forklift today. Contact our team.

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