Buying a Forklift: Total Cost of Ownership

Looking to buy a forklift? It's tempting to compare quotes, pick the cheapest one, and move on. We understand, budgets are tight, but the purchase price is only the opening chapter of the story. What happens over the next five, ten, or fifteen years, through servicing, energy bills, downtime, and eventual resale, usually matters more to your bottom line than the number on the initial invoice.

This guide will walk you through how to think about total cost of ownership when you buy forklifts, what to weigh up before you sign anything, and how the right partner can make or break the value you get from your investment.

Why Should You Look Beyond the Purchase Price When You Buy a Forklift?

A lower sticker price can look like a win on day one and turn into a headache by year three. Here's why we always encourage customers to zoom out before they buy a forklift:

• Operating costs add up quietly. Fuel, electricity, tyres, and consumables don't show up on the purchase invoice, but they're charged every single week the truck is in use.
• Maintenance needs vary between models. Some trucks are built for easy servicing with accessible components. Others require more labour hours for the same job, and that difference compounds over years of use.
• Repairs aren't optional. Every forklift needs them eventually. The question is whether parts are readily available and whether the design makes repairs quick or drawn out.
• Productivity is on the line. A forklift that struggles in your operating environment, whether that's tight aisles, cold storage, or multi-shift work, can slow your whole operation down, not just itself.
• Equipment lifespan differs by build quality. A well-engineered forklift, properly maintained, can outlast a cheaper alternative by years.
• Resale value isn't guaranteed. Some brands and models hold their value far better than others when it's time to move them on.

None of this means the purchase price doesn't matter. It does. But treating it as the only number worth comparing is how businesses end up paying more in the long run for what looked like a saving upfront.

What Is Total Cost of Ownership (TCO) for a Forklift?

Total cost of ownership is a way of adding up everything a forklift will cost you across its working life, not just what you pay to bring it through the door. In practical terms, TCO for a forklift typically includes:

• Purchase price (or lease and finance costs, if you're not paying upfront)
• Maintenance and servicing
• Energy or fuel costs over the life of the truck
• Parts replacement, including wear items like tyres and forks
• Downtime, both scheduled and unplanned
• Operator training
• Insurance, where relevant to your operation
• Resale or disposal value at the end of the truck's working life

While no two operations are identical, estimating total cost of ownership provides a far more realistic basis for comparison than purchase price alone. Every fleet, site, and shift pattern is different, and the exact figures will vary depending on how hard you run your forklifts and what conditions they work in. But even a rough TCO estimate gives you something a purchase price alone never can: a realistic picture of what a forklift will actually cost you to keep on the road.

What Costs Should You Consider Before You Buy Forklifts?

Once you've accepted that the purchase price is just one line item, the next step is understanding what the other line items actually look like. Here's what we would encourage you to think through before you buy forklifts for your operation.

How Much Will Maintenance and Repairs Cost?

Every forklift needs scheduled servicing to stay safe and reliable. This usually includes routine inspections, fluid changes, and replacement of wear parts like filters, brakes, and tyres. Skipping or delaying this work rarely saves money. It just moves the cost further down the track and often makes it bigger.

A few things worth checking before you buy:

• What does the warranty actually cover, and for how long?
• How readily available are genuine parts for this model?
• What's the typical service interval, and how much does a standard service cost?
• Does the manufacturer or dealer offer a preventive maintenance program?

Reliable equipment doesn't eliminate repair costs altogether, but it does tend to reduce how often you're hit with unplanned ones. That predictability is worth something on its own, especially when you're trying to budget for a whole fleet rather than a single truck.

How Do Fuel and Energy Costs Affect Long-Term Expenses?

Power source is one of the biggest drivers of ongoing cost, and there's no single right answer here. It depends on your application.

• Diesel forklifts tend to suit heavy-duty outdoor work where refuelling speed and torque matter. Fuel costs fluctuate with the market, and diesel engines generally carry higher maintenance requirements than electric equivalents.
• LPG forklifts offer a middle ground, often used indoors and outdoors, with quick refuelling and reasonably consistent running costs.
• Electric forklifts typically cost less to charge than diesel or LPG trucks cost to refuel per hour of similar use, and they usually have fewer moving parts and lower servicing needs on top of that, which brings overall running costs down further over time.

The right choice depends on your shift patterns, how many hours the truck runs per day, and whether you're working indoors, outdoors, or both. We'd rather help you work through the maths for your specific operation than tell you one power source wins in every scenario, because it genuinely doesn't.

How Can Downtime Impact Business Productivity?

An idle forklift doesn't just sit there quietly costing you nothing. It usually means:

• Orders that can't be picked or dispatched on time
• Delivery delays that ripple through to your customers
• Other operators picking up the slack, often inefficiently
• Emergency repair callouts, which almost always cost more than scheduled work

The businesses that manage downtime best tend to be the ones that plan for it before it happens, through preventive maintenance, access to loan equipment during repairs, and a service partner who can respond quickly rather than putting you in a queue.

Why Does Resale Value Matter?

Depreciation is inevitable, but it isn't uniform. A well-maintained forklift with a clean service history and a reputable brand behind it will generally hold its value better than one that's been run hard with patchy records.

A few factors that influence resale value:

• Overall condition and hours on the clock
• Completeness and consistency of service history
• Brand reputation in the secondhand market
• How well the model has aged in terms of parts availability and technology

Strong resale value effectively lowers your total cost of ownership, because it offsets some of what you paid upfront. It's easy to overlook this when you're focused on the initial purchase, but it's worth factoring in from day one, not just when you're ready to sell.

Why Should You Buy an Electric Forklift for Long-Term Value?

Electric forklifts have moved well beyond the "quiet indoor option" reputation they used to have. For a lot of operations, they're now a genuinely strong long-term investment, for a few reasons:

• Lower running costs. Electricity is generally cheaper per hour of operation than diesel or LPG, and it is less exposed to price swings that happen in fuel markets.
• Reduced maintenance. Electric motors have fewer moving parts than internal combustion engines, which means less that can wear out or fail.
• Fewer moving parts overall. No engine oil changes, no exhaust system, no fuel filters. That's less routine servicing and fewer things to go wrong.
• Zero tailpipe emissions. This matters for indoor air quality and for businesses working toward sustainability targets.
• Quieter operation. Useful in noise-sensitive environments, around staff on foot, or during multi-shift operations where noise fatigue adds up.
• Strong fit for indoor applications. Warehouses, cold storage, and food-grade environments often favour electric for exactly these reasons.

That said, electric isn't automatically the right call for every operation. Heavy outdoor use, long shifts without charging opportunities, or extreme conditions can all shift the calculation toward diesel or LPG. The best forklift depends on what you actually need it to do.

How Can You Maximise the Value of Your Forklift Investment?

Whichever forklift you land on, there's a lot you can do to get more value out of it over time.

• Choose the right capacity. Undersizing a forklift for your loads accelerates wear. Oversizing wastes money and can be harder to manoeuvre.
• Match the forklift to your environment. Aisle width, floor surface, indoor versus outdoor use, and ambient temperature all affect which truck makes sense.
• Stick to a regular maintenance schedule. This is the single biggest lever you have for controlling long-term costs.
• Train your operators properly. Well-trained operators cause less wear on equipment and fewer safety incidents, both of which protect your investment.
• Monitor equipment performance. Keeping an eye on hours, fuel or energy use, and service history helps you spot problems early and plan replacements before they become urgent.
• Work with a supplier who sticks around after the sale. Ongoing and timely support makes a measurable difference to how much value you get out of a forklift over its working life.

Why Is Choosing the Right Forklift Partner Just as Important as the Equipment?

A forklift is only as good as the support behind it. As both a manufacturer and dealer, we have seen firsthand how ongoing support significantly influences equipment performance, reliability, and long-term ownership costs. A trusted supplier brings value well beyond the machine itself:

• Product expertise. Helping you choose the right truck for your application in the first place, rather than the one that's easiest to sell.
• After-sales support. Fast, competent servicing when something needs attention.
• Preventive maintenance programs. Structured servicing that catches small issues before they become expensive ones.
• Genuine parts. Components built to the manufacturer's specifications, which tend to last longer than aftermarket alternatives.
• Technical assistance. Someone who understands your fleet and can advise on upgrades, replacements, or troubleshooting.
• Long-term reliability. A partner who's still around in five or ten years, not just at the point of sale.

At Linde Material Handling Australia, this is the part of the job we take seriously. We're not just interested in selling you a forklift. We want to help you get the most out of it for as long as you own it.

FAQs

What is the total cost of ownership for a forklift?

Total cost of ownership includes the purchase price plus everything else you'll spend over the forklift's working life, including maintenance, energy or fuel, repairs, and other ownership costs. It gives you a far more accurate picture of what a forklift actually costs than the purchase price alone.

Is buying a forklift better than renting?

It depends on how you'll use it. Buying tends to make more financial sense for businesses with consistent, long-term forklift needs, where the equipment is in regular use across the year. Renting can be a better fit for short-term projects, seasonal peaks, or when you're not yet sure what your ongoing requirements will look like.

Are electric forklifts cheaper to own?

Often, yes, though it depends on usage. The upfront cost is usually higher for electric forklifts, but lower maintenance needs and generally cheaper running costs can bring the total cost of ownership down over time, particularly for indoor or multi-shift applications.

How long does a forklift usually last?

It varies widely depending on maintenance, operating hours, and working conditions, but well-maintained forklifts can remain in productive service for many years. Regular servicing and sensible operation are the biggest factors in getting a long working life out of any truck.

What should I compare before buying a forklift?

At minimum, we'd suggest looking at the purchase price, total cost of ownership, maintenance requirements, energy efficiency, reliability, dealer support, warranty terms, and expected resale value. Comparing price alone rarely tells the full story.

Make an Informed Forklift Investment with Linde Material Handling

Buying a forklift is a long-term decision, and it deserves more than a quick comparison of sticker prices. If you'd like to talk through total cost of ownership, running costs, or which forklift actually suits your operation, our team at Linde MH is here to help. We can walk you through the numbers, the options, and what to expect over the life of the truck, so you can make a decision you're confident in, not just today, but years down the track.

Ready to find the right forklift for your operation? Explore Linde Material Handling Australia's range of forklifts and compare models designed to improve productivity, reduce operating costs, and deliver long-term value.