When it comes to purchasing material handling equipment, pricing can become downright scary. Selecting the right equipment for your application needs should not just come down to the upfront price. There are many factors to consider buying a new forklift besides the purchase price and look at the total cost of ownership.

The Expected Lifespan Of The Forklift

Like automobiles and other pieces of equipment, not all forklifts are built alike. Different brands have different engineering and manufacturing processes that affect the expected lifespan of the equipment. It can certainly vary by manufacturer but the majority of forklifts have a lifespan of 10,000 to 12,000 hours which equates to 5-10 years of service depending on the application use of the equipment.

Operating Expenses of A Forklift 

The fact is that 80% of total cost of forklift ownership comes from operational and maintenance expenses, not the purchase price. That is why it is important to select a forklift that will help minimize the operational costs of your forklift fleet. Operational expenses vary based on the power type, tire type and placation use of the equipment. Gas, propane and diesel all have the fuel expense as well as engines with wear and tear. Advanced electric forklifts have no moving parts and so less maintenance is required. In addition, there is no fuel expense plus newer battery technology requires very little maintenance and provides longer running times between charging. The costs of metric forklifts can be Electric warehouse forklifts requiring zero fuel and less maintenance to operate. When the daily savings are calculated annually over an entire fleet, the cost-savings are real and have a significant impact on the operating budget.

Repair and Maintenance Costs of a Forklift

Depending on the work environment, the application use and number of hours used monthly, most forklifts need to be serviced about 60 days for planned maintenance. This includes oil changes, filter changes and basic inspections. Planned maintenance has many benefits including planned downtime, reduces unexpected repair costs and allows the company to focus on their core business.

Forklift repairs can be costly but proper ongoing maintenance will help minimize the expense and plan the downtime needed for the repair. There is nothing worse that a breakdown that eliminates immediate productivity and becomes an emergency expense.

Replacement Parts Cost & Availability 

In the maintenance and repair of forklifts, the cost and availability of parts become a real factor in deterring the best forklift for your operation. During the pandemic many industries suffered from supply chain issues and the material handling industry was not different. When determining the best forklift for your company’s operation, be sure to consider forklift parts in the importance of protecting your equipment.

Material Handling Forklift Experts

Darr Equipment Co has been helping customers find the right equipment or their application needs for over 70 years. The experts at Darr can conduct a site survey to review an operation’s application needs and make forklift and other material handling recommendations to help increase productivity and optimize processes. And our major brand, Cat, offers “parts Fast or Free Guarantee” which can be an uptime game changer.

Our trained and experienced experts can assist in finding forklifts that will provide the lowest cost of ownership for your operation. There is nothing scary about getting equipment and the knowledge to make the best purchasing decision. Make no boo about it – cheaper forklifts are not always better.

Contact Darr Equipment Co today for more information.