Buying a forklift is a significant investment, but the purchase price is only part of the equation. Two forklifts with similar upfront costs can have vastly different running expenses over their lifespan, affecting your operating budget for years to come.
Understanding how to compare forklift running costs before making a purchase helps you avoid unexpected expenses and choose a machine that delivers the best long-term value. Rather than focusing solely on the initial price tag, it’s important to assess the total cost of ownership and how the truck will perform within your specific operation.
Many buyers make the mistake of comparing forklifts based purely on purchase price. While acquisition costs matter, ongoing expenses often account for a much larger portion of the total investment over time.
A more accurate comparison should include:
Reviewing these factors provides a clearer picture of what each forklift will actually cost to operate.
For a more detailed breakdown of ownership expenses, see our guide on the average price of owning a forklift.
One of the biggest ongoing expenses is powering the forklift.
Electric forklifts generally offer lower day-to-day operating costs. Electricity is often cheaper than diesel or LPG, and electric trucks contain fewer moving parts, which can reduce maintenance requirements.
However, buyers should consider:
Modern lithium-ion batteries can reduce some of these concerns but usually increase the initial purchase price.
Diesel forklifts remain popular for outdoor applications and heavy-duty work.
Their advantages include:
However, diesel costs can fluctuate significantly, and engine-related maintenance tends to be more extensive than with electric models.
LPG forklifts often sit between electric and diesel options in terms of running costs.
They offer:
The overall cost-effectiveness depends heavily on local fuel prices and utilisation rates.
Maintenance costs vary considerably between forklift types and manufacturers.
Some trucks are designed for easy servicing, with accessible components and simplified maintenance schedules. Others may require more frequent inspections, specialist parts, or longer service times.
When comparing models, ask:
A forklift with a slightly higher purchase price may prove significantly cheaper if it requires less maintenance throughout its working life.
Even the most reliable forklift will eventually need replacement parts.
Parts availability directly affects both repair costs and operational downtime. If components are difficult to source, your forklift could be out of service for days or even weeks.
Before purchasing, investigate:
Choosing equipment supported by established dealer networks often reduces both repair delays and long-term maintenance expenses.
Many ownership costs come from unexpected repairs rather than routine maintenance.
Hydraulic systems, electrical components, transmissions, and mast assemblies can all require repairs as equipment ages.
This is where build quality becomes especially important.
Higher-quality forklifts often:
A lower-priced truck may appear attractive initially but could become far more expensive if reliability issues lead to frequent repairs.
Warranty terms can have a direct impact on your running costs, particularly during the first few years of ownership.
Many buyers assume all warranties offer similar protection, but coverage varies considerably between manufacturers and suppliers.
When comparing warranties, look at:
It’s also important to understand what can invalidate a warranty. Missed service schedules, non-approved parts, or operating the truck outside its intended specifications may leave you responsible for costly repairs. Proper servicing records are often essential for maintaining valid warranty protection.
The cost of a forklift breakdown extends beyond the repair itself.
When equipment is unavailable, businesses may face:
For high-volume operations, even a short period of downtime can become expensive.
Reliability should therefore be considered part of the running cost calculation, not simply a convenience factor.
The cheapest forklift to operate is not always the most economical choice.
A more productive machine may complete tasks faster, move more pallets per shift, and reduce labour requirements.
Consider factors such as:
Productive equipment can generate savings that outweigh slightly higher maintenance or purchase costs.
Businesses looking for reliable material handling equipment for warehouse operations can often achieve lower overall ownership costs by selecting equipment designed specifically for their workload and environment. For example, investing in reliable material handling equipment for warehouse operations can improve efficiency while reducing long-term operating expenses.
Residual value is frequently overlooked during the buying process.
Well-known forklift brands with strong reputations often retain their value better than lesser-known alternatives. When the time comes to upgrade or replace equipment, a stronger resale value can significantly reduce the total cost of ownership.
Factors that influence resale value include:
A forklift that costs more initially may ultimately prove cheaper if it retains a higher percentage of its value over time.
The most cost-effective forklift is rarely the one with the lowest sticker price.
To make an informed decision, calculate the expected costs across several years of ownership, including fuel or electricity, servicing, repairs, downtime, and depreciation.
By evaluating the complete ownership picture rather than focusing solely on acquisition costs, businesses can choose a forklift that delivers stronger value, greater reliability, and lower operating expenses throughout its working life.
Taking the time to compare running costs before buying can prevent costly surprises later and help ensure your investment supports efficient, profitable operations for years to come.
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