Forklift hire usually makes more sense when you need a machine for less than about a year, for a seasonal peak or while demand is uncertain. Buying usually costs less when one forklift will work steady shifts for several years, because hire charges keep running while an owned machine keeps some resale value. On typical Australian prices for a 2.5 t electric forklift, buying pulls ahead somewhere between about 19 months and three years. Rent to own sits in between: fixed weekly payments over a set term, then the forklift is yours.
Forklift hire vs buying compared
The table compares hire, buying and rent to own on the points that usually decide the choice.
| Hire | Buy | Rent to own | |
|---|---|---|---|
| Upfront cost | Little beyond delivery | Full price, or a deposit with finance | Weekly payments from the start |
| Ongoing cost | Weekly or monthly hire charge | Servicing, tyres, repairs, battery and any finance repayments | Fixed weekly payments for the term |
| Breakdowns | Usually the hire company's problem, depending on the contract | Your repair bill and your downtime | Depends on the agreement |
| At the end | Hand it back, nothing to sell | You own it and can sell or trade it in | You own it once every payment is made |
| Flexibility | Change machine or stop at the end of the term | Fixed with the machine you chose | Committed for the full term |
| Cost over several years of steady use | Usually the dearest | Usually the cheapest | More than buying outright, but spread out |
Whichever option you pick, the operator needs an LF high risk work licence and you pay for the power or fuel. The real differences are upfront cash, who carries the repair risk and what you own at the end.
What forklift hire costs
Forklift hire costs depend on the machine, the term and the extras on the quote. On short-term hire, a standard 2.5 t LPG or diesel forklift costs about $315-$720 a week ex GST as at October 2026, and a 2.5 t electric forklift about $480-$700.
Monthly rates work out lower per week. Hire company guides put a 2.5-3 t counterbalance at about $1,300-$1,900 a month in 2026, although not every guide says whether that includes GST. Delivery and collection, a damage waiver and fuel all add to the cost of hiring a forklift, especially on short hires.
Short-term vs long-term forklift hire
Short-term hire covers weeks or a few months: a seasonal peak, a breakdown or a one-off project. You pay the highest rate per week, but you can hand the machine back when the work ends.
Long-term hire runs for a year or more at a lower monthly rate, often as forklift hire with maintenance included. The trade-off is commitment, so check what ending early would cost and whether the rate rises each year with CPI. Some suppliers call long-term hire a forklift lease, while others mean a finance lease funded by a lender, so ask which one a quote describes.
What does owning a forklift cost?
The total cost of ownership of a forklift is the purchase price plus servicing, tyres, repairs and compliance checks, less what you get back at the end. A new 2.5-3 t electric counterbalance with a lead-acid battery costs about $30,000-$45,000, and a lithium-ion model about $35,000-$65,000, as at October 2026. Most sources for these ranges don't state a GST basis.
Running costs are the part most hire vs buy sums leave out. Australian buying guides put yearly servicing, tyres, wear parts and compliance checks for an electric forklift at about $4,100-$7,100. LPG and diesel machines cost more to maintain, and a lead-acid battery that wears out is a large bill on its own.
Resale value softens the total. Used electric forklifts are listed at roughly $12,000-$30,000, depending on hours, service history and battery condition, and a trade-in is valued the same way. If you're pricing a purchase, start with what a new electric forklift costs by capacity and battery type.
Worked example: hire or buy a 2.5 t electric forklift for three years
Say your warehouse needs one 2.5 t electric forklift with a lead-acid battery, on one shift a day, five days a week, for three years. Electricity costs the same whether you hire or buy, so it's left out.
The table pairs the low end of each range above, then the high end.
| Cost over three years | Low end | High end |
|---|---|---|
| Hire: 36 months at $1,300-$1,900 a month | $46,800 | $68,400 |
| Buy: purchase price | $30,000 | $45,000 |
| Buy: servicing, 3 years at $4,100-$7,100 a year | $12,300 | $21,300 |
| Buy: total before resale | $42,300 | $66,300 |
| Buy: total after selling for $12,000 | $30,300 | $54,300 |
Before resale, buying and hiring cost much the same over three years. Count even the bottom of the used price range as resale value, and buying pulls clearly ahead.
The break-even point is the purchase price, less any resale value, divided by the monthly hire rate less monthly servicing. On these figures that's about 31-34 months if the forklift is worth nothing at the end, or about 19-25 months if you count $12,000 back.
Three things move the result. Long-term hire contracts often cost less than the monthly band, which favours hire. Finance interest adds to the cost of buying. A second shift favours buying, because most hire rates assume one shift of about 8 hours and extra hours are usually charged.
Rent to own: the middle path between hire and buying
Rent to own, also called rent to buy, means paying a fixed weekly amount over a set term, after which you own the forklift. It suits a business that wants to own the machine but would rather not pay the full price upfront.
The weekly payments add up to more than the outright price over the term. Treat rent to own as a commitment for the full term, not a hire you can end at short notice. Read what the agreement says about servicing and ending early.
DJJ Equipment offers rent to own through its current offers on selected models, subject to finance approval. If you'd rather buy outright and spread the payments, forklift finance is arranged through our finance partner, and pre-approval is no-cost and obligation-free. Try Before You Buy, or buying a machine you've hired, may be available on selected equipment, subject to approval.
How does tax change the hire or buy decision?
Tax mainly changes when you can claim the cost of a forklift you buy. A purchased forklift is a depreciating asset, so its cost is generally claimed over several years rather than all at once.
From 1 July 2026, eligible small businesses with aggregated turnover under $10 million may be able to immediately deduct assets costing less than $20,000 each. A new 2.5 t forklift costs more than that, so it's usually depreciated instead, and the ATO's effective life for forklifts is generally 11 years. Smaller machines and some used forklifts can come in under the threshold. The right treatment depends on your business, so check with your accountant before you decide.
When does forklift hire make sense?
Forklift hire makes sense when the need is short, uncertain or seasonal. Hire is usually the better choice if:
- you need extra capacity for a peak such as Christmas or the end of the financial year
- your own forklift is off the road for repairs
- you're not yet sure which capacity, mast or power type suits your site
- you'd rather keep cash in the business than tie it up in a machine
Hire has limits. Over several years of steady use it usually costs more than owning, you build no equity, and the rate can rise each year.
DJJ hires electric, diesel and LPG forklifts, reach trucks, pallet stackers, order pickers, rough terrain forklifts and pallet jacks on selected models. Availability varies by location, and minimum hire terms depend on the machine and branch. Depending on the plan, our forklift hire may include a pre-delivery inspection, servicing support and breakdown assistance.
When buying a forklift makes sense
Buying a forklift makes sense when one machine will work most days for several years. Buying is usually the better choice if:
- the forklift will run a full shift on most working days
- you expect to keep it for three years or more
- you need attachments or a spec set up for your work
- you want an asset you can sell or trade in later
Buying has limits too. You carry the repair bills and the downtime, and a forklift bought for today's loads may not suit the business in five years. If you're replacing an older machine, DJJ takes trade-ins of all forklift brands, valued on hours, service history, battery or engine condition and demand.
If the need is short or uncertain, hire. If one forklift will work steady shifts for three years or more, buying a forklift usually costs less, and rent to own spreads that cost when cash is tight. Tell us the load weight, lift height, surface and hours a day you run. Silverwater, Meadowbrook or Bayswater will price hire and purchase side by side, or call 1800 355 388.
