Jul. 14, 2025
Forklift purchases are large investments. Low-end machines can cost $20,000, while high-end machines can cost more than $100,000. When you need to expand your fleet or complete a specific job, however, buying a forklift can be well worth the financial outlay.
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At the same time, saving money on your forklift purchase is always a smart move. Fortunately, there are many opportunities to cut down on the total cost of your forklift purchase. Take the following steps to ensure both the quality and the affordability of the next forklift you buy.
Purchase a used forklift.
The first question to ask yourself when you buy a forklift is whether you want to buy a new or a used machine. Both have their advantages and disadvantages. However, purchasing a quality used forklift will usually save you money in the long run, with a used forklift sometimes costing only half of what a new forklift would.
Used forklifts, however, can cost you more in the long run if you are not careful. When you buy a used forklift, you should consider the age and the condition of the forklift, how much you plan to use the forklift, the forklift's maintenance costs, and whether any warranties come with the forklift.
A quality used forklift in good condition with a solid warranty can easily save you money. Just make sure to go through a reliable dealer like Darr Equipment to get your machine.
Invest in a comprehensive maintenance plan.
Spending more money upfront may not seem like a good way to lower the cost of your forklift. However, comprehensive maintenance plans, when purchased through a reliable dealer, can actually lower your expenses over time.
The reason a maintenance plan can make a difference in the cost of your forklift is because the total cost is not restricted to the purchase price. Maintaining and repairing your forklift also requires money. The less you have to spend making large repairs, the more money you save.
A comprehensive maintenance plan gives you access to trained technicians who can complete all maintenance checks and tasks, thereby preventing major issues. These plans usually come at a lower cost than hiring technicians every time you need help. As a result, they provide a lower cost way to care for your forklift.
Choose a forklift with low operating costs.
Maintenance and repair costs are not the only long-term expenses you incur when you buy a forklift. Operating the forklift will also come with its own expenses. For example, electric forklifts require electricity to charge the batteries (and regular battery replacements). LPG forklifts require fuel (and a place to store the fuel).
As a result, look for a forklift with low operating costs. Electric forklifts usually cost less to use over time, but they are not suitable for every application. Fuel efficient models may make a larger upfront price tag worth it. Ask your dealer for a breakdown of estimated operating costs for the models you are considering, and choose one whose long-term operating costs are affordable.
Buy a forklift that (only) meets your needs.
Today, you have access to many different kinds of forklifts. From pallet jacks to small order pickers to large counterbalance forklifts, you can get a machine in almost any size, with almost any feature you can imagine. The key to saving money when you buy a forklift, however, is to avoid buying too much machine for your needs.
This means identifying your needs and then finding a forklift that matches those needs. If all you need is a manual pallet jack, purchase that. If you need a counterbalance forklift with all the bells and whistles, purchase that.
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To help you determine which machine will serve you best, always be sure to use a reliable dealer. Here at Darr Equipment, we focus on finding you the machine that will meet your needs, not the machine that will sell for the most money. When your machine matches your needs, you will both save money and enjoy greater satisfaction in your purchase.
Purchase a good warranty.
If you buy a forklift from a reliable dealer, it may come with a warranty. The majority of machines we sell here at Darr Equipment, for example, come with warranties. However, you may occasionally find a quality machine without an included warranty, or you may want to buy an extended warranty. The cost for these warranties means paying more upfront. However, the warranties can save you money over time. When your forklift breaks, having the repairs covered by the warranty can save you hundreds or thousands of dollars, making it worth the cost in the long run.
When you buy a forklift, there are many factors you need to consider. Taking steps to save you money can make your purchase more affordable and rewarding over the long run. Consider purchasing a used forklift, investing in a comprehensive maintenance plan, choose a forklift with low operating costs, only purchase what you need, and buy a good warranty.
Throughout the process, use a reliable dealer, like Darr Equipment. We can offer you a wide selection of high quality vehicles, help you find the one that is right for you, offer maintenance plans and warranties, and more. With the right dealer, you can find a forklift that fits both your needs and your budget.
Forklifts are the backbone of the materials handling industry. No matter how you choose to operate your warehouse facility, the equipment you use and how you use it will impact your efficiency and bottom line. Having a robust and effective forklift fleet becomes a great asset for your warehouse. Let’s look at some strategies to save money on a forklift fleet while still having top-tier equipment and operations.
The initial purchase cost is one of the most significant expenses of owning a forklift fleet. Having the correct number of forklifts for your operation is essential to save money. Having too many forklifts is wasteful, and having too few can slow your operation. Analyze your warehouse and workload to determine the optimal number of forklifts needed to do the job efficiently.
While buying new forklifts can be expensive, keeping older forklifts can be even more costly. Older forklifts are more likely to break down, requiring frequent maintenance and repair costs. They’re also less efficient and more prone to accidents, which can increase insurance premiums. More updated forklift models are also easier to train employees on. Consider upgrading your forklift fleet by replacing older models with newer, more efficient ones.
Another critical consideration for cost-saving strategies for your forklift fleet is the type of forklift you choose. There are two main types of forklifts: internal combustion and electric. Internal combustion forklifts are powered by gasoline or propane, while rechargeable batteries power electric forklifts.
While internal combustion forklifts are typically less expensive upfront, they require more maintenance and have higher fuel costs. On the other hand, electric forklifts are more expensive upfront but more efficient and require less maintenance. They’re also quieter and emit no exhaust fumes, making them ideal for indoor use.
If purchasing new forklifts is outside your budget, consider renting or leasing. Renting or leasing forklifts can be cost-effective, especially if you only need them temporarily. For instance, if a busy season for your warehouse is coming up, or there is a short-term project you’ll be working on until completion. This option allows you to avoid the upfront costs of buying a new forklift and gives you the flexibility to choose the right type for your needs.
Where you store your forklifts can also impact your cost-saving strategies. Forklifts stored outdoors are more likely to suffer damage from weather conditions, which can lead to more frequent repairs and replacement costs. Indoor storage is generally preferable, as it protects the forklifts from the elements and reduces the risk of theft or vandalism.
Finally, consider how your forklift fleet matches your warehouse staffing. You may only need a few forklifts if you have a small staff. You may need more forklifts to keep up with demand if you have a large team. If you staff your team via shifts, do some require more forklift use than others? Additionally, it’s essential to train your staff to operate the forklifts properly to reduce the risk of accidents and damage to the forklifts.
In conclusion, owning and maintaining a forklift fleet can be a significant expense, but you can use several cost-saving strategies to reduce costs. These strategies include having the correct number of forklifts, considering the age of your forklifts, choosing the right forklift type, renting or leasing, choosing suitable storage locations, and matching your forklift fleet with your staffing.
Here at Benco Industrial Equipment, we aim to assist you and help you set your warehouse up for success. We have both electric and internal combustion forklifts ready to buy or rent. We have legless stackers, straddle stackers, reach stackers, work assist unit forklifts, and more available. We also have various other equipment and products to help complete your job. See what decades of excellence in the materials handling industry looks like – Get in touch with us today!
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