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How Much Does it Cost to Lease a Forklift?

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If your equipment needs are temporary or short term, renting a forklift makes better financial sense than buying one. There’s no point in spending tens of thousands of dollars on a piece of equipment that will sit in a garage most of the time.

Forklift rentals also appeal to companies that are short on cash. Even if you don’t have tens of thousands to shell out, a rental gives you access to the equipment you need.

With a rental, you don’t have to worry about maintenance and upkeep. Use the machine when you need it and return it when you’re done. Most rental companies also offer pick up and delivery.

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About Forklift Rentals

Chances are, you already know what kind of forklift you need for the job. If you don’t, you’ll need to find out before looking for a rental.

There are two basic types of forklifts:

  • Electric forklifts are battery powered and designed for indoor use. They often have lift capacities of 3,000-5,000 pounds, although some go up to 15,000 pounds.
  • Internal combustion (IC) forklifts are powered by gas, diesel fuel or liquid propane. With lift capacities of 5,000-35,000 pounds or more, they’re used outdoors for heavy-duty jobs.

Aside from the fuel type, you’ll have to choose the reach height and type of tire (cushion or pneumatic). Additional attachments such as pallet or hydraulic jacks are typically available, but they cost extra.

Forklifts are generally rented by the day, week or month.

Cost to Rent a Forklift

Forklift rental prices are determined by the type of forklift, the duration of the rental and your geographic location. Obviously, larger and more powerful forklifts are going to be more expensive to rent.

A 3,000-pound electric forklift with cushion tires, such as the Hyster E35FR, might go for:

Average Forklift Rental Prices
  • $125-$150 per day
  • $350-$400 per week
  • $1,000-$1,250 per month

A 5,000-pound dual fuel (gas or liquid propane) with pneumatic tires, such as the Toyota 7FGU25, costs about:

  • $180-$210 per day
  • $410-$505 per week
  • $1,200-$1,300 per month

For an 8,000-pound diesel with pneumatic tires like the Hyster H80FT, expect to pay:

  • $230-$260 per day
  • $525-575 per week
  • $1,500-$1,600 per month

Finally, for a 15,000-pound diesel with pneumatic tires, budget about:

  • $450-$500 per day
  • $1,200-$1,250 per week
  • $3,000-$3,200 per month

As you can see, it is more cost effective to rent a forklift for a month than to rent one by the week for four straight weeks. For this reason, always go with the longest rental period that seems realistic.

In addition to rental fees, save room in the budget for delivery and pickup, fuel costs, and any operator training that is required.

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Author: Ashley Smith


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