The Lilly Company

Material Handling Experts Since 1919

MENUMENU
  • Products
    • New Forklifts
    • Used Forklifts & Equipment
    • Specialty Equipment
    • Construction Equipment
    • Warehousing
    • Industrial Batteries & Chargers
    • Loading Dock Equipment
    • Attachments
  • Services
    • Equipment Repair
    • Rental
    • Parts
    • Custom Shop
    • Safety Training
    • Warehouse Services
  • Corporate
    • Our History
    • Employment
    • Locations
    • Lilly Golf Events
  • Resources
    • Customer Solutions
    • Material Handling Education
    • Toyota Documentation
    • Clark Documentation
    • eBooks
    • Blog
  • Media
    • Instagram
    • Facebook
    • Twitter
    • YouTube
    • LinkedIn
  • Contact
  • Specials
You are here: Home / Material Handling Education / Finance / Understanding How Forklifts are Priced

Understanding How Forklifts are Priced

May 9, 2019 by Jeff Fowler

When making a large investment like a forklift, it is so easy to focus on cost. This could be one of the most important factors of your business, and the overall cost of ownership should be taken into consideration. Since sticker price can be distracting to the actual value and return, it is convenient and clever to understand why and how the forklift is priced. While forklifts prices vary greatly, the pricing factors give a customer details on how the seller determined the price.

Forklift Pricing Factors

  1. The Capacity Amount

The higher the capacity, the more expensive the forklift will be. With a capability for heavier loads, capacity increases cost because of the specialty and greater ability. Knowing and understand the capacity amount you will need will keep you from overspending on your forklift. Be sure to include the weight of pallets in the potential weight that you need.

  1. The Manufacturer

Additional investments into technologies, features, and higher quality parts make particular material handling manufacturers’ equipment more expensive. Because brands of this quality, you are more likely to pay more, but the higher cost is in conjunction with a better reputation and quality.

  1. Long Term Cost over Upfront Cost

When purchasing an inexpensive or used forklift, the upfront cost may be lower. Unfortunately, these purchases are more likely to come with more maintenance and service fees. You may end up spending more money long-term than purchasing a new forklift. Make sure to evaluate the history, age, and condition of the forklift first.

  1. Operating Costs

The upfront cost of your forklift is not the only cost you will have. Planned maintenance and fuel are a few of the operating costs that will forklift owners will have. Just like how cars depreciate and need to be serviced, your forklift will need to be serviced routinely to assure that forklift is not in need of any maintenance.

  1. Warranties

Having a warranty on your forklift can protect you from purchasing more parts than predicted and other unplanned costs. When the part begins to break down, the warranty will cover it. Warranties are not free, but they worth it when a breakdown occurs.

  1. Tires

There are two major category types of forklift tires: Pneumatic and Cushion. Pneumatic tires are generally able to handle rougher terrain and work environments. Because they are more durable, pneumatic tires can run more than cushion tires.

  1. History and Condition

When purchasing a used forklift, the history and condition of a forklift can greatly affect the pricing. If the forklift has a history of breakdowns and service issues, it may not be as expensive upfront. Also, the amount of use and hours put on the equipment will fluctuate the price. The current condition can also differentiate the pricing model. A need for new parts, paint, tires, and other services can drive the price up too.

Related Posts

  • Internal Combustion Forklifts

    An internal combustion forklift is the most widely used forklift. Ideal for outdoor use, a…

  • Electric Forklifts in Rain

    Forklifts often rely on different electrical components to keep running. You should always do enough…

  • Beginners Guide to Forklifts

    With many types of forklifts to choose from, selecting the right forklift can be difficult.…

  • Sit Down vs. Stand up Forklifts

    There are many different options when choosing a forklift, yet all forklift’s have the main…

  • Warehouse Safety

    OSHA, Occupational Safety and Health Administration, requires all employers to provide and maintain a safe…

Filed Under: Finance, Material Handling Education

Search

Categories

  • News/Announcements/Press Releases
  • Finance
  • Parts & Services
  • Products
  • Safety
  • Warehouse
  • Safety

Most Recent Posts

  • Why Toyota is the Safest Forklift
  • How to Prevent Common Forklift Operator Injuries
  • Forklift Batteries
  • COVID-19 Response
  • Forklift Brakes

Related Posts

  • Internal Combustion Forklifts

    An internal combustion forklift is the most widely used forklift. Ideal for outdoor use, a…

  • Electric Forklifts in Rain

    Forklifts often rely on different electrical components to keep running. You should always do enough…

  • Beginners Guide to Forklifts

    With many types of forklifts to choose from, selecting the right forklift can be difficult.…

  • Sit Down vs. Stand up Forklifts

    There are many different options when choosing a forklift, yet all forklift’s have the main…

  • Warehouse Safety

    OSHA, Occupational Safety and Health Administration, requires all employers to provide and maintain a safe…

Copyright © 2022 The Lilly Company :: Material Handling Experts Since 1919

Products

  • New Equipment
  • Used Forklifts & Equipment
  • Specialty Equipment
  • Construction Equipment
  • Warehousing
  • Industrial Batteries & Chargers
  • Attachments
  • Specials

Services

  • Equipment Repair
  • Rental
  • Parts
  • Custom Shop
  • Safety Training
  • Warehouse Services

Quick Links

  • LillyCo – Clark Lift-Truck-Stuff e-Catalog
  • LillyCo – Toyota Lift-Truck-Stuff e-Catalog
  • Clark FlexGuard
  • Toyota 360 Support
  • Trade Up to AICHI Event
  • Toyota Forklift
  • Clark Material Handling
  • Linde Material Handling
  • Clark Documentation
  • Toyota Documentation

Company

  • LillyCo – Clark Lift-Truck-Stuff e-Catalog
  • LillyCo – Toyota Lift-Truck-Stuff e-Catalog
  • Clark FlexGuard
  • Toyota 360 Support
  • Trade Up to AICHI Event
  • Toyota Forklift
  • Clark Material Handling
  • Linde Material Handling
  • Clark Documentation
  • Toyota Documentation

Address

The Lilly Company - Headquarters
3613 Knight Arnold Road
Memphis, TN 38118
(901) 363-6000
844.LILLYCO

Connect