Small Business Forklift Rental Cost Calculator

Renting a forklift for a few days is often cheaper than buying one, but the daily rate is only part of the bill. Delivery, the damage waiver and fuel can add hundreds of dollars, so work out the full total before you book.

1. Enter the rental length in days. The worked example uses 5 days.
2. Choose the forklift type. Daily rates run from $175 for an electric counterbalance forklift to $250 for a rough terrain forklift.
3. Enter the delivery fee from your quote. The worked example uses $150.
4. Enter the damage waiver per day and the fuel or charging cost per day. The worked example uses $25 and $20.
5. Press Calculate, or press Enter. The total cost appears first and large, with the rental cost, the delivery fee and the cost per day below.

Four parts make up the total. Three are charged per day and one is charged once.

Total cost = rental cost + delivery fee + waiver total + fuel total. Rental cost = daily rate x rental days. Waiver total = waiver per day x rental days. Fuel total = fuel per day x rental days. Cost per day = total cost / rental days.

The daily rates here are planning rates inside published US ranges. An electric counterbalance forklift is $175 a day, a diesel counterbalance forklift is $200 a day, a reach truck is $225 a day and a rough terrain forklift is $250 a day. Rates vary by capacity, location and season, so your supplier quote is the final word.

A small business rents a diesel counterbalance forklift at $200 a day for 5 days, with a $150 delivery fee, a $25 a day damage waiver and $20 a day for fuel.

1. Rental cost: $200 x 5 days = $1,000.
2. Waiver total: $25 x 5 days = $125.
3. Fuel total: $20 x 5 days = $100.
4. Delivery fee: $150.
5. Total cost: $1,000 + $150 + $125 + $100 = $1,375.
6. Cost per day: $1,375 / 5 days = $275.

As a second check, take an electric forklift at $175 a day for 3 days, with a $100 delivery fee, a $20 a day waiver and no fuel cost. The total is $685, which is $228.33 a day.

The forklift type sets the daily rate. Over 5 days an electric counterbalance forklift costs $875 in rental alone, a diesel counterbalance costs $1,000, a reach truck costs $1,125 and a rough terrain forklift costs $1,250. A rough terrain forklift on a smooth warehouse floor wastes $375 over 5 days against the electric option.

The rental length changes the cost per day because the delivery fee is fixed. Stretch the worked example to 10 days and the total becomes $2,600, which is $260 a day instead of $275. Delivery fees work the same way on other rentals, and our dumpster rental cost calculator shows how delivery and extra days add up on a dumpster rental.

The waiver and fuel are the parts renters forget most often. A waiver at 10 to 15 percent of the rental cost adds $20 to $30 a day on a $200 a day rental, and fuel adds $100 over 5 days in the worked example. Ask whether fuel is included before you compare two quotes.

An electric counterbalance forklift suits indoor work. It produces no exhaust, runs quietly and costs the least per day at $175, but it needs 6 to 8 hours to charge. A diesel counterbalance forklift costs $200 a day and suits outdoor yards and heavier loads, because it refuels in minutes, but its exhaust rules it out for enclosed spaces.

A reach truck costs $225 a day and is built for narrow aisle warehouses, working in aisles as tight as 8.5 feet and lifting to 30 to 45 feet. A rough terrain forklift costs $250 a day and is built for unpaved ground, with large tires, high ground clearance and four wheel drive.

Match the rated capacity to your heaviest load as well as the type. A standard 5,000 lb forklift handles most warehouse pallets, but capacity falls as the load is raised higher or carried further forward, so check the load chart rather than the nameplate alone.

Check the operator first. OSHA standard 29 CFR 1910.178 requires formal instruction, practical training and a performance evaluation before unsupervised use, with re-evaluation at least every three years. Hiring a certified operator costs about $25 to $45 an hour.

Measure the site before you book. Counterbalance forklifts need 11 to 13 feet to turn and reach trucks need 8.5 to 10 feet, so measure your aisles and doorways and confirm the collapsed mast height fits your lowest doorway. Photograph the forklift at delivery, because the damage waiver may exclude tires and forks.

Compare quotes on the same terms, the same forklift type, the same number of days, the same delivery fee and the same waiver and fuel treatment. Our small business vehicle wrap cost calculator and our small business bookkeeping software monthly cost calculator can help you price the rest of the month once the forklift cost is settled.