When you work on a construction site, you’re often lifting heaving objects. However, that’s one of the leading reasons for workplace injuries.
Instead, to be more efficient, you should invest in machinery, such as a construction forklift. It can lift more weight than a human and increase the speed at which you can complete projects.
They are necessary components for any successful construction site. But how much does a forklift cost? Read on to find out further insight.
Factors Associated With Forklift Costs
When you shop around for a forklift, you’ll notice the average cost will range between $15,000 to $100,000. Why is the price range so wide? It depends on factors such as:
- Weight capacity
- Operating costs
The larger your forklift, the more expensive it will be. For example, forklifts that can lift to 10,000 pounds cost roughly $30,000 – $45,000. However, machines that can lift over 30,000 pounds will be in the $100,000 range.
Your manufacturer will impact the cost because it often determines the quality of the forklift. If your forklift machine came from a notable company like, Ford costs will be higher.
Also, the type of forklift you have will determine its operating costs and maintenance. Do you need it for heavy lifting? Does it have a small engine?
As a contractor, these are some of the questions you’ll need to figure out when purchasing a forklift.
Different Types of Forklifts
Forklifts have various sizes and uses, so you’ll need to know the forklift that will be the greatest asset to your business. There are different types of forklifts such as:
- Warehouse forklift
- Counterbalance forklift
- Pallet jack
There are also various forklift classifications such as:
- Class I – Electric powered
- Class II – Battery powered
- Class III- Battery powered
- Class IV – Diesel powered
These are some aspects of buying a forklift that you need to consider. So review important parts of your business where forklift functions are essential.
Keeping Forklift Costs Low
As you can see, forklifts can be on the pricey side, depending on the forklift model you get. However, if you don’t want to buy a new machine, you can always rent a forklift or buy a used one.
Buying a used forklift comes with certain benefits, such as:
- Saving you money
- Having kinks worked out
- Tax deductions
When business owners buy a used forklift, companies are allowed to write it off for a deduction, according to Section 179 of the Internal Revenue Code. It can help businesses lower their current tax year liability.
Now You Know the Cost Of a Construction Forklift
Having a construction forklift on your site can significantly increase your business’s efficiency. However, it’s essential to ensure you’re comfortable with the costs associated with buying a new machine.
If you’re not, you can always rent or buy a used forklift. Either way, your business will gain various advantages for investing in one of these machines.
To learn more about forklifts and other helpful construction machinery, check out our blog for related content.