How Much Does a Forklift Cost?

by Dan Livingston, on March 18, 2024 at 5:08 PM

Blog Image - How Much Does a Forklift Cost Once you decide to buy a forklift and start shopping around, you'll soon discover a new forklift can cost between $20,000–$50,000. Why such a big price range?

In this article, we'll explain:

The top five factors that affect the price of a new forklift
When to buy a used vs. new forklift
Incentives and special offers for Washington state forklift buyers

How Much Does a New Forklift Cost?

As you might imagine, a small forklift (commonly used in warehouses) costs less than a heavy-duty forklift designed to move lumber or concrete. Since most people are looking for a standard capacity lift truck, we’ll start with those. If you want to know how much a 10,000 lb.+ capacity forklift costs, please scroll down.

A new internal combustion forklift (diesel or propane) costs $25,000 – $60,000. The lower price gets you a diesel or gas-powered truck with cushion tires. The price will be higher if you want to buy a propane forklift or use pneumatic tires.

A brand-new electric forklift costs about $25,000 – $55,000. Add $10,000 – $20,000 if you need to purchase a charger, prefer a lithium-ion battery or want pneumatic tires.

Get Cash Back When You Buy an Electric Forklift

Washington state's Clean Fuels Program will pay you to charge electric equipment — including forklifts. High-carbon fuel producers and importers (like oil and gas companies) buy carbon credits created by low-carbon fuel users (such as electric forklift owners).

Getting started is easy. We’ve partnered with a company that will handle all the paperwork. Click the button below to learn how to get paid for charging your equipment.

How Much Do Large Forklifts Cost?

Expect to pay $30,000 – $45,000 for a 10,000 lb. capacity internal combustion forklift, and up to $115,000 for a large, 36,000 lb. capacity forklift. Heavy-duty forklifts with a 35,000+ lb. capacity cost $140,000 or more.

The price range for an electric forklift that can lift up to 11,000 lbs. is about $37,000 – $80,000. Large electric forklifts with a 40,000 lbs.+ capacity start at around $100,000.

Factors That Affect Forklift Pricing
The top five factors that affect the cost of a forklift are:

Capacity - Bigger, stronger forklifts cost more
Lift height - The forklift’s mast type (2-stage, 3-stage, quad) will also affect the price
Manufacturer - Not all forklifts are created equal. As the saying goes, "you get what you pay for." A “cheap” forklift often leads to expensive repair bills and downtime.
Attachments - Side-shifters, fork positioners, single-doubles, etc. increase the forklift’s price but quickly pay for themselves through increased productivity.
Fuel type - Electric forklifts cost more upfront but are less expensive to own

Electric Forklift Cost Considerations

Electric forklifts are cheaper to own and can be used in applications once dominated by internal combustion forklifts. For example, an operation that uses their forklift 2,500 hours per year will spend:

About $1,500-$2,000 per year in operating costs for an electric forklift
Compared to $12,000-$15,000 for a diesel forklift and $10,000-$12,500 per year for a propane forklift

Electric forklifts also cost less per year to maintain (about $500 per year on average) whereas a diesel, gas or propane forklift costs about $1500 per year. Taken together, buying an electric forklift can “save” a business $10,000 - $11,000 per year in fuel, maintenance and other operational costs — plus you can get paid to charge your equipment.

A Cheap Forklift Will Cost More in the Long Run

A low purchase price usually means a high cost of ownership. Put another way, any upfront savings will quickly be lost to repair costs and downtime.

Choose a forklift with a reputation for reliability and durability
Invest in a forklift service plan to prevent unplanned downtime

How Much Do Used Forklifts Cost?

Used forklifts typically cost half as much as a comparable new forklift. Unfortunately, some buyers never consider the benefits of buying a used forklift. Maybe they had a bad experience in the past, or believe some of the common misconceptions about used forklifts.

We stand by what we sell at Mid Columbia Forklift and MidCo Material Handling. Every used forklift is thoroughly reconditioned and comes with a warranty.

To learn more about buying a used forklift, including expert tips, download our free Used Forklift Buyer’s Guide.

Forklifts for Sale in Washington State

Whether you’re looking to buy a new or used forklift, we’ll help you choose the best forklift for your needs and budget. We offer flexible financing and forklift lease options for customers in the greater Seattle area, Wenatchee, Yakima and the Tri-Cities.