From warehouses and distribution centers to manufacturing plants and retail stores, forklifts and material handling equipment are essential for keeping operations moving. But these machines often come with price tags ranging from $20,000 to $120,000+. That’s where the right financing options for forklifts and material handling equipment can help your business grow without draining capital.
What is the best way to finance a forklift?
The best way to finance a forklift is through equipment loans, leasing programs, or dealer financing—based on your budget and usage needs.
Buying material handling equipment outright can be a cash flow challenge. Financing or leasing allows you to:
Preserve working capital for payroll and inventory
Start using equipment right away with manageable payments
Write off payments or depreciation for tax benefits
Upgrade regularly to newer, more efficient models
Align costs with operational revenue
Related: Equipment Financing 101: Everything You Need to Know
You can finance or lease a wide range of material handling equipment, including:
Electric, propane, diesel, or gas forklifts
Pallet jacks and reach trucks
Order pickers and stackers
Scissor lifts and aerial work platforms
Conveyor systems
Warehouse racking and shelving systems
Telehandlers and rough-terrain forklifts
✅ Many lenders will bundle attachments, extended warranties, and delivery into one financing package.
Fixed monthly payments and interest rates
Terms from 24–72 months
You own the forklift after the final payment
Great for long-term asset investment
Lower monthly payments compared to loans
Options to return, upgrade, or buy at lease end
Ideal for fast-growing businesses or seasonal needs
Often includes maintenance coverage
Available for new or used equipment purchases
Lower down payments and long repayment terms
Best for established businesses seeking low interest rates
Offered by brands like Toyota, Hyster, Yale, Crown, Mitsubishi, and others
Often includes promotional rates (0% for 12–24 months)
Faster approvals, especially for established customers
Pro Tip: Always compare dealer financing with independent lenders to ensure you're getting the best terms.
| Equipment Type | Cost Estimate | Loan Term | Monthly Payment |
|---|---|---|---|
| Electric Forklift | $30,000 | 60 months | ~$590/month |
| Telehandler Forklift | $80,000 | 72 months | ~$1,390/month |
| Full Warehouse Bundle | $150,000 | 72 months | ~$2,625/month |
To qualify for forklift financing or leasing, prepare:
Business license or EIN
Vendor quote or invoice
Recent business bank statements or tax returns
Personal and/or business credit history (typically 600+ credit score)
Equipment use case or business plan (if a startup)
Equipment loans for ownership
Leasing for flexibility and lower upfront cost
SBA loans for long-term funding
Dealer financing for quick, brand-backed approvals
Forklifts and material handling systems are crucial to efficiency and safety. By choosing the right financing solution, you can get the equipment you need today while protecting your bottom line.
Looking to expand your fleet or upgrade aging equipment?
Explore forklift loans and leasing plans now to keep your operations moving with reliable, affordable equipment.