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New & Used Forklift Prices: What You Can Expect to Pay in .One moment, please |
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So you're in the market for a forklift but unsure what you can expect to pay for a new or used forklift? Well, you're in the right place, because by the time you're finished with this new and used forklift pricing guide, you'll know not only know more about forklift pricing, you'll also learn:. Many different factors go into the prices of forklifts.
So, before we get to the actual figures, let's take a few moments to understand how pricing is determined for both new and used forklifts. Here are the major factors that determine the price of forklifts, whether new or used:. The capacity of the tow motor will have a major effect on the pricing. For instance, a 10, lb. So keep that in mind as you do your shopping. The major fuel sources for forklifts include electric, liquefied propane gas LPG , and diesel. Generally speaking, electrics cost more than LPG and diesel trucks do.
Diesel, on the other hand, costs more than LPG trucks do. LPG-powered trucks, conversely, are usually the least expensive option. But besides that, there are a multitude of different heights and configurations.
Some are shorter, so they can fit into confined spaces like semi-trailers. Others are extra tall in order to reach foot-tall racking. Usually, the taller the mast is, the more material is needed to make it, which raises the cost. Beyond that, there are additional options like razor-siping for slick conditions and non-marking tires for operations where floor marks are undesirable.
That being said, black cushions and air-filled pneumatic tires are usually the base option for most forklifts. Usually, trucks will come standard with a 3-way hydraulic valve and single internal hosing. And this option, in turn, will add to the sticker price of your forklift.
The more features you want the lift truck to have, and the more specifically-configured you need it for your operation, the more expensive it will be. Some of the upcharges that influence the price include:. Items like blue and red zone safety lights, LED headlights, and even suspension seats are becoming more and more popular for many operations, due to their positive effect on safety and ergonomics.
When it comes to prices for used equipment, there are a few additional factors than with new equipment:. Forklifts that were previously used in an extreme environment will show the wear and tear from that application. Besides condition, the price of a forklift truck can depend on how much work the seller wants to put into it.
They may only make minor repairs or no repairs at all before slapping a price on it and putting it up for sale. While you might find cheap, you might not find quality along with it. And make no mistake - the cost of that TLC will come out of your budget. Like automobiles, newer forklifts will be priced higher than older ones. Because the older the lift is, the older and more outdated the features are.
And not only that, but older forklifts tend to have higher usage and thus more wear and tear compared to ones that are only a couple of years old. The age of the forklift plays a significant role in used pricing. If possible, aim for 10 years or newer. While it does vary from seller to seller, a general rule of thumb is that anything older than 10 years will be priced noticeably cheaper. Put simply, the higher the hours, the less-expensive the lift.
Whereas automobile usage is measured in miles driven, forklift usage is measured in hours used. We usually say that hours on a forklift is equivalent to 3, miles on a car. So, if you do the math, a forklift with 5, hours on it has roughly the same usage as a car with 75, miles on it. For instance, 2, hours in a facility that produces caustic chemicals will be vastly different than 2, hours in an application that makes pillows. Therefore, sellers will often weigh the overall condition of the truck more heavily than the hours it has on it when deciding on a price.
Some trucks - especially higher-capacity ones - are simply less available than more common "bread and butter" trucks, like 5, lb. When this happens, the law of supply and demand will cause the price of the high-capacity forklifts to rise. For example, a used forklift dealer may simply be sitting on too many of a particular truck.
If the seller is sitting on a lot of a certain type of truck, that can mean a better price for you. And that means a potentially better deal for you, the buyer. Additionally, the time of year can have an impact on supply and demand, thereby increasing or decreasing prices. Pneumatic-tired trucks, for instance, are popular in the springtime.
And cab trucks are popular in the winter time. Otherwise you may find yourself paying a premium for a hard-to-find truck. The warranty options do vary from seller to seller and lift to lift.
Other common warranties include day parts and labor warranties, day parts and labor warranties, and six-month powertrain warranties. Likewise, the cost of a warranty will be highly-dependent on the particular situation, the lift, it's hours, and frankly how badly the seller wants you to buy. Do you want a fresh paint job, along with body work done to your used lift?
Some buyers do, but for different reasons. While some operations require their forklifts to maintain their paint in order to safeguard against product contamination from paint chips, others do it to preserve the integrity of the forklift. Wondering what all goes into a forklift paint job? By default, most trucks will come with a sideshifter at no extra cost. But other times, the truck might have a paper roll clamp, box clamp, or any number of other attachments, depending on the application it came from.
Depending on which type of attachment it is, its inclusion with the truck can bump the price of the whole package up by thousands of dollars. Negotiation is as much a part of the used forklift business as it is the used car business.
And that can be quite good news for you, the buyer. In the end, these "freebies" can add up to thousands of dollars in savings for you. Okay, now that we've laid the groundwork for understanding new and used forklift pricing, it's time to get into the actual numbers.
The following is a rough range of prices for the most common types of forklifts. Brand new forklift prices are admittedly a bit difficult to find. This is on account of the fact that prices are typically only revealed through a quote as opposed to retail stores where the price is out there in the open. That being said, we looked through our records, and, combined with our experience, we feel these prices give a good rough estimate of what you can expect to pay for the most popular models and configurations of forklifts, across a variety of brands.
We used these specs and options as we devised to price list, in order to maintain an apples-to-apples comparison:.
We were able to get a little more granular with the used pricing. That's because there are a plethora of used equipment trading websites online that openly list the prices of many different kinds of equipment.
We ended up examining 85 listings of the most common types of forklifts, each within the range of the following specs again, in order to get as close of an apples-to-apples comparison as possible :. Some of the listings we took the above numbers from did include paint in the price.
But none explicitly stated that they came with a warranty. Too often, price is the only consideration when shopping for a forklift. But there are other, very important factors to consider as well. Although the price is higher, there are still a lot of advantages you should be aware of with respect to buying a new forklift, instead of a used one.
Much like automobiles, forklifts are constantly being updated and improved. When going the new route, you have the advantage of getting these updated features as they come out. And that means making your operation run smoother, with less downtime and lower risk of operator injury. If your operation has tall racking or takes place within confined spaces like semi-trailers and railroad cars, chances are you may need a non-standard mast.
Because some masts are simply harder to come across than others on the used market, the advantage of buying new is that you have more flexibility to choose exactly the mast size you need. A frequently-overlooked but important detail are the transportation charges for forklifts. If buying new, you'll usually only be on the hook for local delivery charges. Plus, if you have the capability, you can save even more money by coming to the dealership and picking the truck up yourself!
Whereas, if buying used from an online seller, you might get saddled with a huge shipping bill. As previously mentioned, depending on the manufacturer, your new forklift will probably come with a warranty that lasts for 12 to 36 months, or up to 2, hours or so.
The logic is simple: A truck that's 5 years old with 5, hours on it is probably going to be worth more when traded in than a truck that is 10 years old with 10, hours on it. So if you plan to trade in your truck after only a couple of years, and you've bought new, you're going to get a higher trade-in price for it. Unless, of course, the truck is in extremely rough shape, on account of the environment it was in, poor maintenance, operator abuse, or any combination thereof.
But not only is the initial investment higher when buying new, the depreciation is steeper as well. Granted, if you plan on keeping the forklift throughout its whole life, this may not be as big of a deal to you. And as mentioned, since new trucks will typically have a higher trade-in value at the end of their life, that may be all that matters to you. Any which way you look at it, you're going to have a wait between the time you order your new truck, it leaves the factory, gets checked in by your local dealership, and is delivered to you.
As you know, the price of a used forklift is almost universally lower than the price of a new forklift. But going beyond that, there are also some nice price breaks that you can get if you go the used route. And speaking of negotiation, remember that you have the opportunity to negotiate not only for a lower price on the used lift, but also for upgrades, like bigger forks, new tires, or perhaps even an upgraded attachment, like a side shifting fork positioner instead of a standard sideshifter.
Sometimes, you can get a used forklift within a matter of days, compared with months for new. Otherwise, expect to wait anywhere from a few days to a month before you get your used lift.
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