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Forklift Buying Guide
August 11, 2021
CAT forklift
How Much Does a Forklift Cost?
September 21, 2021

How Much Does a Forklift Cost?

Determining the cost of a forklift is not as simple as the sticker price. Forklifts are very versatile, with an enormous range of capabilities. From simple pallet jacks you see almost everywhere to huge maritime options for shipping yards, forklift price tags range from $3,500 to $500,000.

So how much does a forklift cost? To find out the true cost of forklift ownership, look beyond the initial outlay of money (or loan investment) and consider a variety of factors.

Here’s a series of questions to consider before purchasing a forklift.

How do I know it’s time to buy a new forklift?

Before you purchase a new forklift, you may wonder if you should purchase a new forklift. Generally speaking, when repairs on a forklift exceed the value of the truck, it’s time to consider forklift replacement. This isn’t the only time it makes sense to buy a new forklift. When your needs change, your warehouse expands or you require increased service hours, it’s often more cost effective to buy a new forklift that meets your demands.

G&W customers have the option to use Fleet Track, our web-based fleet management system. Fleet Track helps you make informed financial decisions with a review of past forklift service history. Our service and sales professionals also help gather information and give an honest estimation regarding repair vs new forklift purchase.

Should I buy a new or used forklift?

Whether you should buy a new or used forklift depends on your planned usage as well as your budget. A new forklift – if it has the accessories and power you need – can make more sense over the long haul, in terms of service and repair.

That doesn’t mean a used forklift might not be your best answer. For certain applications, buying a used forklift from a reputable dealer can be the best fit for your budget.

Sometimes a rental forklift is your best choice, for seasonal or short-term needs.

Talk to your forklift dealer. Make sure they review all your requirements, including expected hours of operation, power needs and indoor and/or outdoor use. An experienced sales rep can guide you to the best option for your business.

What is the average cost of a new forklift?

The average cost of a new forklift is between $15,000 – $50,000. While there are forklifts outside that range, that’s the average cost for the most common forklift that fits most industries – warehouses, farms, factories and construction sites. Accessories for specific job functions can add to this price.

At G&W, the CAT 2C5000 is one of our most popular forklifts, listed around $30,000. This option offers what many businesses need in a forklift: fuel economy, reliable performance and greater operator control. This forklift moves goods, stages pallets and transfers loads. It’s popular for its versatility, as it can be used indoors and out. It’s also very customizable. With all the optional accessories, we can tailor to an exact application.

Talk to a G&W sales rep to price a forklift for your needs. Our sales people are not trained to sell a forklift – they’re trained to sell the right forklift.

How difficult will it be to get parts and service for my new forklift?

When repairs or new parts are necessary, you want to ensure it won’t be a hassle – or a huge expense. Some brands need special order parts, often shipped from overseas. G&W has a full offering of the most trusted brands in forklifts. We offer quick, convenient service options and 98% of all of our stocked parts are available within 24 hours. If the part can’t get there the same day, you’ll get next day delivery or the part is free.  

At G&W, we know shipping forklifts for repairs adds to your costs. We have a fleet of mobile technicians in all our territories, so we bring the service to you.

Having a service plan also helps ensure a cost-effective purchase. G&W offers service plans that include tune-ups, coolant checks and replacement and seasonal change needs. Our plans can save you money over the lifetime of your forklift, as well as prevent large expenses by offering ongoing maintenance.

Do I have the support I need to make this decision?

The most important factor in buying a forklift is expert advice. At G&W, our sales reps offer the knowledge and guidance you need to buy a forklift with confidence. We know one size does not fit all and customization is the key to buying the perfect forklift for your business.

Ready to consider a forklift purchase?

Overall, the initial cost of a forklift upon purchase does not represent total cost of ownership. To make the best decision, take all factors into consideration, including service and maintenance, and work with a reputable dealer you trust. The team at G&W wants to build long-term partnerships with our customers, so we’ll help you do all your research, give you our best recommendations and then support your purchase with service. With our flexible leasing and financing options, we can create the right plan for you.

Contact G&W for all your forklift buying needs.