Forklift costs can catch businesses off guard. Between the initial purchase price, fuel or electricity expenses, and ongoing maintenance, the numbers add up quickly. Whether you’re looking at electric, diesel, or LPG models, understanding the full cost picture helps you make the right choice for your warehouse or yard.
The truth is, there’s no single answer. Forklift truck pricing depends on several factors, from the type of equipment you choose to how you plan to use it. We break down what you can expect to pay and how to keep your costs under control.
What Affects Forklift Truck Pricing?
Several factors influence how much you’ll pay for a forklift:
- Type of power source – Electric forklifts typically cost more upfront than diesel or LPG models. The battery and charging infrastructure add to the initial investment. Gas and diesel forklifts have lower purchase prices but different running costs.
- Lifting capacity – Heavy-duty forklifts that can lift heavier loads come with a higher price tag. A standard counterbalance forklift that lifts up to 2,500kg costs less than one rated for 5,000kg or more.
- Mast height – The higher the mast, the more you’ll pay. Duplex and triplex masts for reaching tall warehouse racking increase the equipment cost compared to standard heights.
- Features and attachments – Side shifters, fork positioners, and other attachments add functionality but also increase the price. Safety systems and advanced controls push costs up too.
- Condition – Used forklifts offer substantial savings compared to new models. Refurbished equipment from a trusted dealer can be a cost-effective middle ground.
How Much Do Different Types of Forklifts Cost?
Understanding the upfront investment, running expenses, and maintenance requirements for electric, diesel, and LPG models can assist with your decision-making.
Electric Forklift Costs
Electric forklifts have a higher upfront cost, largely due to the battery and charging system. Over time, lower running costs help offset this investment. Electricity is cheaper than fuel, and fewer moving parts mean less maintenance. Battery replacement is a factor, but modern batteries last several years with proper care. Quiet, emission-free operation makes electric forklifts ideal for indoor warehouses where air quality matters.
Diesel Forklift Costs
Diesel forklifts are cheaper to buy initially, which can help if upfront costs are a concern. Fuel consumption is the main ongoing expense, typically around 2.5–4 litres per hour, and fluctuating fuel prices can affect budgets. Regular servicing (including oil changes, filters, and tune-ups) is required to keep the engine running reliably. Diesel forklifts are well-suited to outdoor use and heavy-duty work where power is essential.
LPG Forklift Costs
Gas forklifts sit between electric and diesel in purchase price. LPG is economical and widely available, and refuelling only takes minutes, unlike electric batteries. Maintenance costs are moderate, and gas forklifts produce fewer emissions than diesel. Their versatility makes them suitable for indoor and outdoor applications.
What Are the Operating Costs?
Beyond the purchase price, running a forklift comes with ongoing expenses.
Fuel and Electricity Expenses
Fuel or electricity is usually the highest ongoing cost. Electric forklifts consume around 7–9 kWh per hour, which works out cheaper than diesel or LPG in most UK warehouses. Diesel models burn more fuel under heavy loads, while LPG consumption remains fairly consistent.
Simple operator habits make a real difference: reducing idle time and switching off equipment when not in use cuts fuel or electricity waste and saves money over the long term.
Maintenance and Servicing Costs
Regular maintenance keeps forklifts safe and reliable. Electric models need less frequent servicing (mainly battery checks and proper charging), while diesel and LPG trucks require oil changes, filter replacements, and safety inspections every 250 hours or six months. Parts and labour costs for engine-based forklifts can add up, so staying on top of servicing prevents expensive breakdowns.
Compliance adds another layer. All lifting equipment in the UK must pass thorough examinations under LOLER regulations, and regular servicing helps you stay compliant. Don’t forget tyres: solid tyres last longer but cost more upfront, whereas pneumatic tyres wear faster but are better for outdoor use.
Should You Buy New, Used, or Hire?
Choosing between buying new, opting for a used forklift, or hiring depends on your budget, operational needs, and long-term plans. Each option has advantages that suit different scenarios.
New Forklift Benefits
Buying new gives you the latest technology and full manufacturer warranties for peace of mind. Modern electric forklifts offer better battery life and charging systems, while all new models meet current emissions standards and deliver improved fuel efficiency.
Used Forklift Options
Used forklifts provide cost savings without sacrificing reliability. A well-maintained second-hand truck can serve your operation for years. Refurbished machines from a reputable dealer offer an extra layer of confidence, having been fully inspected and restored to high standards. Always check the service history and hours of use before purchasing.
Forklift Hire Flexibility
Forklift hire is ideal for short-term projects or businesses that want to avoid high upfront costs. Agreements can be daily, weekly, monthly, or longer, often including maintenance and servicing. This makes costs predictable and removes the worry of unexpected repairs from your budget.
How Can You Reduce Forklift Running Costs?
Keeping forklift running costs under control comes down to a few practical steps:
- Regular servicing. Catching small issues early prevents costly breakdowns and keeps your equipment reliable.
- Proper operator training. Skilled operators work more efficiently, reduce accidents, and minimise damage, all of which lowers fuel and repair costs.
- Right equipment for the job. Using a forklift suited to your workload avoids wasted fuel from oversized machines or extra strain on undersized ones.
- Monitor fuel consumption. Track usage to spot inefficient practices and make improvements where needed, helping you save over the long term.
Keep Forklift Costs Manageable with TAG
Downtime costs you money, which is why TAG Forklift Truck Services has been helping businesses across the North West stay productive since 1994. We provide reliable material handling solutions, from new and used electric, diesel, and LPG models to flexible short- and long-term hire agreements.
Our experienced team guides you in selecting the right equipment for your operation, whether that’s forklifts, specialist attachments, access platforms, or warehouse racking. We also offer expert servicing, repairs, and maintenance to keep your fleet running safely. With strong links to leading OEM suppliers and dedicated transport across the region, TAG delivers support tailored to your needs.
Contact us to discuss your requirements and find the right solution for your business.