If you’ve ever made a large purchase, you know that the cost of the actual item is only part of what you will spend over the life of the thing you bought. Here are some of the expenses you can expect while you make the most of your new forklift:
Someone has to operate the lift. Combine training and salary and one forklift operator will cost you roughly $40,000/year.
If your new lift operates on diesel or propane, plan on between $10,000 – $15,000 /year – per shift. Meaning if you’re operating your forklift two shifts (8 hours) a day, double that amount.
We spend a lot of time talking about preventative maintenance, oil changes, filters, tires, etc. $2,500 per year, roughly.
As a business owner, you should be aware that equipment abuse cause much of the repair and maintenance expense you can expect over the life if your forklift. Keep an eye on your operators and the employees who work around your equipment to ensure they are working safely and responsibly.
Warranties can cover some of the above expenses for a period of time. Make sure you ask plenty of questions when you purchase to see what warranty options work best for you, and could save you the most money in the long run.
Now, there is a way to avoid many of those expenses- by leasing a forklift.
You can request fixed maintenance costs with the lease arrangement and that cost becomes part of your monthly payment.
Lease agreements shorten your ownership period of the forklift to the terms of the lease- but when it’s over you may have the opportunity to purchase the truck outright or lease another one.
Bottom line here is make sure you ask plenty of questions to make sure you get the deal that best suits you and your operation. Ask plenty of questions, and trust us when we tell you there are no stupid questions. We’ve got the experience and the expertise to help you get the deal that makes the most sense for you.