Forklift age is measured in hours. For a single-shift operation with an 8-hour work day, the average forklift runs 2,000 hours/ year. The average lifespan of a forklift is 10,000 hours, but this depends on the manufacturer. Above-average machines, such as Toyota forklifts, commonly last more than 20,000 hours.

Forklift costs can vary widely depending on exact specifications and customer needs, but there are some ranges to keep in mind. A brand new, electric forklift with standard capacity might cost $20,000 $45,000 dollars and up with an increase of $2,500 $5,000 for a battery and charger.

A used, re-conditioned 3,000 lb. electric forklift might cost between $5,000 and $10,000. A used 5,000 lb. internal combustion forklift might cost $10,000 to $15,000.