Calculate monthly repayments and compare electric vs diesel 5-year total cost of ownership for any forklift. Enter your capacity class, usage hours, and finance details to see the real numbers — including tax savings.
The purchase price is just part of the story. Electric forklifts cost more upfront but have dramatically lower operating costs. Use your usage hours to see the real 5-year comparison.
Forklift finance is a specialist segment of equipment lending. Unlike standard business vehicle finance, lenders assess the type of operation, industry, hours of use, and maintenance history when setting rates and approving applications. Getting this right matters — there can be a 2–3% difference in rates between a generic business lender and a specialist equipment finance broker.
| Feature | Chattel Mortgage | Finance Lease | Operating Lease / Rental |
|---|---|---|---|
| Ownership | You own it from day 1 | Lender owns; you at end of term | Lender owns throughout |
| Balance sheet | On balance sheet | On balance sheet | Off balance sheet |
| GST credit | Yes (full upfront) | Spread over term | On each payment |
| Depreciation claim | Yes (full ownership) | Lessee can claim | No — lessor claims |
| Best for | Most businesses | GST-managed cash flow | High-turnover ops |
The shift to electric forklifts has accelerated significantly since 2023 driven by: (1) rising diesel and LPG fuel costs, (2) indoor air quality regulations, (3) ESG commitments from large corporates, and (4) improved battery lifespan (now 2,000+ charge cycles for lithium-ion). For warehouses operating 1,000+ hours per year, the TCO case for electric is now compelling in most scenarios.
| Capacity | Typical use | Electric price (new) | Diesel price (new) |
|---|---|---|---|
| 1.5–2T | Small warehouse, retail | $35,000–$55,000 | $28,000–$42,000 |
| 2.5–3T | Standard warehouse, 3PL | $50,000–$75,000 | $38,000–$58,000 |
| 3.5–5T | Heavy industry | $70,000–$110,000 | $55,000–$85,000 |
| 5T+ | Port, heavy manufacturing | $100,000+ | $80,000+ |
Rates, lenders & how to compare
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