Toyota isn’t just a Japanese company that in 2020 became the world’s No.1 car manufacturer. It also sells pretty good industrial vehicles too. Since 2002, Toyota has led the US by selling the largest number of forklifts nationwide.
A Toyota forklift’s cost mainly depends on the fuel type and model. Generally, a 5,000lbs lifting capacity, electric Toyota forklift model sells for around $18,000-$25,000, with a battery and charger around $2,000-$5,000. In comparison, a 5,000lbs internal combustion model costs between $15,000-$30,000. Moreover, diesel-fuelled 10,000lbs models sell for $30,000-$50,000, and a 35,000lbs capacity forklift costs around $100,000.
But what makes them so good? Toyota started producing forklifts more than 40 years ago and sells their fork trucks to a worldwide market with many competitors.
The company’s product range caters to many different applications by producing fork trucks of various capacities and styles. Furthermore, since 1999, Toyota has incorporated its Systems of Active Stability (SAS) technology into most of its products to improve truck stability and operator safety. So, that means less downtime and fewer accidents.
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Toyota Forklift Types
Toyota produces forklifts able to carry a wide range of cargo. Generally, the models with cushion tires operate indoors while those with pneumatic tires operate outside. Capacities for the cushion tired internal combustion models range from 3000lbs up to 15,500lbs. In comparison, models with internal combustion engines and pneumatic tires can lift from 3000lbs to 17,500lbs, while electric forklifts carry 3000lbs to 12,000lbs loads.
There are many other variations on these. The design of each one matched to specific applications such as:
- Shelf stackers. Typically, these are what people think of as a forklift truck. The operator sits in a cab and drives the vehicle carrying pallets and stacking them. These range from lightweight loads carrying to heavy-duty machines.
- Pallet jacks. These allow operators to walk behind the jack using a steering column similar to a bicycle. They are mainly designed for moving pallets between locations on smooth floors rather than lifting to height.
- Reach trucks. Suitable for moving pallets into racking that are one or two pallets deep. The forks lift as normal but also can reach into the racking.
- Order pickers. These allow personnel to reach shelves from within gangways. They have a control panel located on the platform.
They even produce hand-operated pallet jacks with a capacity of 5,500lbs.
Generally, Toyota forklifts can best be categorized by the fuel each one uses, as these dictate their operating environment. Below you can find out how much a new Toyota forklift costs in more detail
Electric Forklifts
Rechargeable batteries power electric forklift trucks. They connect to a charger at the end of each work shift, so the battery is ready for use on the following day. Battery-powered fork trucks generally stay indoors and travel on a smooth concrete floor. Therefore they don’t usually need pneumatic tires, although some do. Instead, their tires are solid and cushioned.
Battery fork trucks are available in three-wheeled and four-wheeled varieties. They can have seats for the operator or have a platform for the operator to stand.
Toyota electric forklift prices vary with lifting capacity. The Toyota 7-series has a lift capacity ranging from 3,000lbs to 4,000lbs, while the 8-series can lift between 4,000lbs and 6,500lbs. The cost of a Toyota forklift, in the mid-range of the 8-series, would raise around 5,000lbs. Typically, its price would be between $18,000 and $25,000 if bought new. Moreover, if you wanted to buy an internal combustion model with the same lifting capacity, you would be looking for one that costs around $16,000 to $30,000.
On top of this, an electric fork truck requires a charger and battery. Depending on the model and whether you intend to connect its battery to the charger between shifts, you might need one or two spare batteries to recharge while the fork truck uses the other one. This arrangement is especially useful if your factory or warehouse works 24-hours a day and 7-days a week. A typical battery and charger cost an additional $2,000 to $5,000, depending on the forklift model.
Internal Combustion Forklifts
Internal combustion fork trucks use propane (LPG), gasoline, or diesel, depending on the model and its application. Usually, forklifts relying on this type of engine are better suited for outdoor use, where carbon monoxide exhaust fumes won’t cause an industrial health and safety problem.
The Toyota 7-series IC is a typical forklift of this type. They have a lifting capacity of between 8,000lbs and 17,500lbs. Because diesel fuel generally gives a higher power engine, which allows a fork truck to lift higher loads. Typically, a diesel-powered model that can raise 10,000lbs costs between $30,000 and $45,000, while those that can lift at least 35,000lbs will set you back a minimum of $100,000.
Used Toyota Forklift Prices
Many companies prefer to buy a used fork truck. Not only are pre-owned models much less expensive than new forklifts, but also, on many worksites, equipment accumulates a few knocks and scratches along the way. Managers and supervisors consider dents on a used model to be much less serious than on a brand new one.
Your factory or warehouse might benefit from a pre-owned fork truck rather than a new one. If so, you can buy from various online industrial-vehicle selling sites. Alternatively, Toyota recognizes that this is a valuable market and has a section on its website entirely devoted to pre-owned Toyota forklift trucks.
The table below shows a quick comparison of Toyota forklift costs. You will find that the retail price of many pre-owned forklifts varies with the age, condition, location of the vendor, and the number of operating hours. Therefore, you find that many forklifts of the same model number and specifications can have different asking prices. Use this table as a top-line estimate price list for some of the older Toyota forklifts. We compiled the information from various online resources. And, the prices might differ from those available in your area. Use the table as a starting point for your research into forklift truck specifications and selling prices. Then, you might find one suitable for your company’s requirements.
| Toyota Forklift Model | Maximum Lift Capacity | Estimated Used Price |
|---|---|---|
| 7FGCU45-BCS | 10,000lbs | $10,000 to $14,500 |
| 7FGCU18 | 3,500lbs | $7,000 to $9,000 |
| 7BNCU15 | 3,000lbs | $15,000 to $24,000 |
| 8FGCU15 | 4,000lbs | $10,000 to $15,000 |
| 8FGCU20 | 4,000lbs | $11,000 to $14,000 |
| 8FBCU25 | 5,000lbs | $25,000 to $35,000 |
Typical breakdown of a fork truck specifications
Let’s look at what you can buy on the pre-owned market. Consider the Toyota forklift 7FGCU45-BCS, shown in the table. According to the Toyota website, the company doesn’t produce this model anymore. There are, however, many with these specifications available on the pre-owned market places. So, it’s worthwhile spending some time looking at what you get for your money.
- Age – The model was built in 2006. Year of manufacture only gives a rough guide as to the number of operating hours the machine has done. This one had just under 10,000 operating hours on its meter, but this value could vary widely. Usually, operating hours indicate the amount of use the forklift has seen.
- Dimensions – Its overall width is 4.43 ft, with a wheelbase of 5.12 ft. The height to the top of the overhead guard is 6.91 ft, and its turning radius is 7.32 ft.
- Mast specifications – The mast has a load center of 24 inches and can lift a maximum weight of 10,000lbs. Furthermore, the forks’ lift speed hits a maximum of 87.1 ft/minute.
- Engine – The engine uses LPG as a fuel source and provides 90 hp of power.
- Operational – Tires are cushion rather than pneumatic. And, it has two wheels per axle, one axle at the front and one at the rear. When moving, the machine has a maximum speed of 11.8 mph.
- Price – This particular model costs $12,500. However, the prices of others of comparable age vary between $10,000 and $14,500.
Benefits of Buying Used vs. New
Toyota forklifts are known worldwide for their high durability, reliability, and quality. The cost of buying a pre-owned Toyota forklift depends on the model, fuel type, lifting capacity, and the location where you intend to purchase. However, whether you buy a new or used model, the return on your investment will greatly benefit your company. Let’s have a look at the benefits of purchasing either a new or used Toyota forklift, so you can decide for yourself which you would rather do.
Indeed, everyone would rather have a new piece of equipment with the latest technology and no wear and tear. But usually, everyone has budget constraints which force a decision as to which one to buy.
It would be best to compare the up-front costs of buying a new model with the maintenance and repair costs of purchasing a pre-owned model. Not to mention the downtime that can occur when an older model breaks down because it has had enough. Generally, to get the most out of a pre-owned forklift, you should follow the following weekly schedule. The bullet points will help not to put too much stress on the fork truck’s operating limitations.
- Only use it on a single daily shift.
- Use it for no more than five hours of continuous operation.
- Use it for no more than five consecutive days per week.
- Confine its work to light lifting.
- Don’t use it in a non-stop warehouse environment.
This schedule is only one of the things to consider.
Price
If you buy a used forklift, you can expect to save up to 50% of the purchase price of a new model.
However, a used machine could end up costing you more in the long term. Operating costs for an electric forklift are around 20% of those forklifts that use LPG or diesel. Furthermore, maintenance costs for an electric fork truck are around 33% of the costs to maintain the other types.
On the other hand, a new forklift comes with an extended warranty of usually three to five years. Therefore, repairs and spares are paid for by the manufacturer for its duration.
Long shifts
If your company runs 24-hours a day, you need to buy a new forklift. New models always manage continuous use far better than pre-owned models, while the latter can better manage occasional use.
Reliability
It goes without saying that a new model is more reliable than a used one. Therefore, it is more productive and safer than a pre-owned model, which might break down unexpectedly in an unsafe manner, followed by many hours of downtime.
Spare Parts
You can guarantee that a new fork truck will have all its spare parts available at a few hours’ notice. However, suppose you have a pre-owned model. In that case, you might have difficulty sourcing spares, and in some cases, the manufacturer might have stopped making them altogether. On the other hand, older engines tend to be simpler and operate without new technology. Therefore, if you can find the spare parts, the repair is usually easier and quicker.
Operational history
If you buy a new forklift, you have a record of its regular maintenance and repairs. You know that the forklift’s capacity is exactly what the manufacturer states on the specifications. Also, you know that all the technology works as it should.
If you buy a pre-owned forklift, you must check its operational history. This information includes operating hours, working environment, and whether it was dusty or suffered temperature extremes. You can still find good quality used machines, but it just takes more effort to do so.
Depreciation and tax advantages
All physical assets in a business depreciate in value over time, giving your company a tax advantage. Your tax advisor must weigh up the advantages in depreciation against the capital expenditure needed to buy your asset. Generally, new forklifts depreciate less over a longer period than pre-owned models. A new forklift might cost more up-front, but it will serve your company for longer and be more reliable than a used forklift. Check with your advisor before making the decision one way or the other.
Next Steps
Does your company want to purchase a new or used Toyota forklift? If so, you should contact a professional who can advise on Toyota forklift prices and the model most suited to your company’s requirements.
Complete the form on this page, and you’ll receive 2 or 3 quotes from professionals in your area who can help.