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Forklift Finance
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Written by James Dutton
James is Head of Asset Finance in our funding division. He specialises in arranging finance for assets across a range of sectors, as well as experience in completing finance agreements for assets coming from abroad. James has more than 30 years of experience in the finance sector, providing him with the necessary expertise to arrange finance for businesses requiring finance facilities across the UK.
Finance your forklift
Whether you operate a busy warehouse, a production facility, or a distribution centre, the right forklift keeps your operation moving. The wrong finance deal can just as easily slow it down.
Forklifts represent a significant capital outlay, whether you’re investing in a single electric counterbalance truck or refreshing an entire fleet of reach trucks and pallet handlers.
Our expert commercial vehicle finance team works with manufacturers, logistics businesses, and operations of all sizes to arrange forklift finance, including hire purchase and finance lease, that fits around how your business actually works. That means flexible terms, structures that preserve your cashflow, and access to a panel of lenders who understand the equipment you’re buying.
Whether you’re financing a new machine from Toyota, Linde, Jungheinrich, or Hyster, or looking at quality used equipment, we’ll find a deal that works for your operation.
We can also arrange finance for other commercial vehicle finance, including utility vehicles, skip loaders, and refrigerated vans.
What is Forklift Finance?
Forklifts are central to the day-to-day running of warehouses, distribution centres, manufacturing sites, and construction yards across the UK. When a forklift reaches the end of its serviceable life, or when a growing business needs to add handling capacity, the ability to purchase a new forklift is imperative.
Forklift finance gives businesses a practical route to acquiring new or used forklifts without meeting the purchase cost in a single payment. At UK Business Finance, we arrange finance for counterbalance forklifts, reach trucks, pallet trucks, order pickers, forklift fleets, and a wide range of other material handling equipment. We can also put in place refinance agreements for forklifts and handling equipment that a business already owns outright.
Finance agreements are structured around the specific position of each business. By setting the terms to reflect what the business can comfortably manage, the agreement can be sustained rather than be a source of financial pressure.
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Benefits of Forklift Finance
Avoiding a large single capital outlay: Forklifts, particularly newer models with advanced features or higher lift capacities, represent a substantial purchase. Paying for one in full through business funds can deplete working capital that is needed elsewhere. A finance agreement spreads that expenditure over a set period, so the business can put the right equipment in place without using a significant amount of cash at a single point in time.
Drawing capital from owned equipment: Businesses that own material handling equipment may be able to unlock the value sitting in assets. The equipment is sold to a funder and leased back, giving the business a cash injection while retaining access to the machinery. Ownership is reinstated at the end of the agreement once all repayments have been met.
Planned, predictable expenditure: A finance agreement with fixed monthly repayments ensures businesses know exactly what the forklift costs each month. This makes it easier to manage the broader budget and reduces the risk of unexpected financial pressure arising from the equipment itself.
Maintaining the right equipment standard: Older forklifts can become unreliable, slower, and more expensive to keep in working order. In a warehouse or production environment, ageing equipment can have a measurable effect on output. Finance a new forklift fleet provides a cost-effective way to move to newer, more capable machinery without waiting to have the full purchase cost available in the business.
An agreement built around your operation: The repayment structure of a forklift finance agreement can be tailored to your specific operation. This means the repayment amount can be set at a figure that genuinely reflects the financial capacity of the business.
How we helped a Midlands manufacturer refresh their forklift fleet
A manufacturing business in the East Midlands approached us after their existing forklift fleet had reached the end of its serviceable life. Running ageing counterbalance trucks across two factory sites was creating reliability issues and increasing maintenance costs. The business needed to replace four forklifts across both sites.
We reviewed their requirements and went to market on their behalf. By working with a specialist lender experienced in manufacturing and materials handling equipment, we were able to structure a hire purchase agreement across a 48-month term valued at £142,000.
The fixed monthly repayments gave the business full cost certainty, and the structured term aligned with the expected working life of the machines. The customer was particularly pleased that the new agreement for the forklift fleet was completed quickly.
Apply for forklift finance
UK Business Finance is an established commercial finance broker with access to a wide panel of lenders, allowing us to source funding arrangements that are built around the operational demands of your business.
What we offer:
- Get a free quote in 60 seconds
- A wide lender panel to pinpoint the right financial solution
- We take care of the entire application process on your behalf
- An experienced team with knowledge of the sector
To learn more about forklift finance, reach out to our dedicated team.
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Our team of finance experts can provide industry-leading advice on finance options to suit a range of different scenarios. Call the team on 0808 301 0624 or Contact Us
What finance can be used for forklift finance?
Businesses looking to finance a forklift can choose from several solutions depending on their situation. Asset finance and finance leases provide a structured way to acquire new or used equipment through fixed monthly repayments, while asset refinance allows businesses to release capital from forklifts or other machinery they already own. Unsecured loans are also available for businesses with broader funding needs that go beyond a single asset purchase.
UK Business Finance can help warehouse, logistics, and industrial businesses find a forklift finance solution that works for them. Whether you are adding to your fleet or replacing ageing equipment, our team will manage the process from initial enquiry through to funding.
| Asset Finance | Asset Refinance | Finance Lease | Unsecured Loans | |
|---|---|---|---|---|
Typical term length | Medium Term | Medium Term | Medium Term | Short Term |
Flexibility | Medium | Medium | Medium | High |
Deposit required? | Yes | Yes | Yes | No |
Purpose | Purchase assets | Raise capital for multiple ventures | Lease assets | Multiple business needs |
How do we work?
1. Get a Customised Quote
When you reach out to us, we will likely request that you provide the following information. Your latest set of accounts, previous 6 months’ banks statements and director’s personal details.
2. Compare Options
Once the information from step 1 has been confirmed, we will reach out to our extensive panel of funders, who under normal circumstances, respond with an answer in 48 hours. After this, Know Your Customer (KYC) and identification checks will take place for the business and its directors.
3. Finalise the agreement
As soon as you agree to move forward with the terms and conditions, you will receive the relevant documents for you to sign and then return. After the final checks have been completed, the funds will be released. The time taken to release the funding varies depending on the funder, ranging from 24 to 72 hours.
Why does your business need forklift finance?
Forklifts are essential to the daily running of many businesses, and keeping equipment operational, safe, and compliant can place real demands on working capital. The right finance solution can help businesses maintain their operations without committing large sums of cash to a single purchase.
- Keep working capital intact
- Repayment terms tailored to your operation
- Finance a single unit or an entire fleet
- Broad access to lenders across the market
- Refinance forklifts already owned by the business
- Upgrade to newer or higher-capacity models
- Cover unexpected equipment replacement costs
- Improve site productivity and handling efficiency
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We're not tied to any lender. With access to 90+ finance providers, we match you with the most suitable funding solution, not the one that pays us the best commission.
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With 8 regional offices and 100+ supporting locations across the UK, you'll work with a finance specialist who understands your local market.
Forklift Finance FAQs
What types of forklifts can I finance?
We can arrange finance for a wide range of forklift trucks, including counterbalance forklifts, reach trucks, order pickers, pallet trucks, and telescopic handlers. Both electric and diesel-powered machines are eligible, and we can finance new equipment from leading manufacturers as well as used assets.
How quickly can forklift finance be arranged?
Timescales will vary depending on the lender and the complexity of your application, but for straightforward cases involving a single machine and a well-established business, decisions can often be reached within a few working days. We’ll keep you informed throughout and work to meet any supplier deadlines where possible.
How much can I borrow to finance a forklift?
The amount you can borrow will depend on the value of the equipment, your business’s financial profile, and the criteria of the lender. We work with a panel of lenders experienced in materials handling equipment, so we’re well placed to find terms that reflect your specific situation rather than applying a one-size-fits-all approach.
Can I finance forklift attachments and accessories separately?
In many cases, yes. Specialist attachments such as side-shifters, rotators, and fork positioners can add considerable value to a machine and may be financed as part of the main agreement or separately. Let us know what you’re looking to fund, and we’ll explore the options available.
Can I finance a used forklift?
Yes. Finance is available for both new and used forklifts. Lenders will consider factors such as the age, condition, hours worked, and current market value of the machine when assessing your application. Having a recent service history or inspection report to hand can support the process.
What finance options are available?
Hire purchase is a popular choice for forklifts, as it spreads the cost over a fixed term while giving you ownership of the asset at the end. Finance lease is an alternative if you’d prefer to keep the asset off your balance sheet or retain flexibility at the end of the term. We’ll help you identify which structure makes most sense for your business.
