How much is a forklift?
As sarcastic but savvy salespeople might put it – how long is a piece of string? Most businesses look for a ballpark figure when pricing up the addition of forklifts to their fleet, and if that’s what you’re looking for, the approximate cost is around £75 per week. However, if you want to know what points to consider before committing to hiring or purchasing forklifts, we have listed them here for you.
- Shapes, sizes and power types
There are lots of different varieties of forklifts, and generally, the higher the truck capacity the more it will cost. Another factor to consider is the power type of the truck. Diesel and LPG trucks are similar in price, but when it comes to the more popular option – electric – you’re looking at spending around £5,500 more.
- Premium, mid-market and value ranges
As with most specialist equipment, forklift trucks come in premium, mid-market and value ranges. We would usually expect a premium brand to be around 5% more, and a value brand 10% less than a mid-market model.
- Hire or buy?
Purchasing trucks outright is fairly rare in the UK, mainly due to the responsibility of tax and depreciation of assets that the buying of equipment brings. Hire contracts are favoured because they can be structured in lots of ways to influence the weekly cost.
- Parts and service
The cost of parts and service can differ depending on where you are based. While £45 per hour might get you a service in some parts of the country, in other areas where there is less competition you might find the hourly rate edging closer to £100.
- Total cost of ownership
You might pay more upfront for an electric powered truck, but they are favoured due to their lower total cost of ownership, and are especially popular with corporate customers that want to be seen to be reducing emissions.
- Usage and Residual Value
A truck that is used every day in an environment that might damage or corrode the machine will have a lower resale value, but a low use truck in a clean environment will be valued higher at the end of a contract.
Ultimately, it’s just as important to consider the support options offered as it is to think about the cost on day one.
If you’re looking for more information, read the full blog post on how much a forklift costs.