Why Finance an Electric Forklift?
Electric forklifts - particularly lithium-ion models - carry a higher upfront cost than equivalent diesel or LPG units, but lower running costs, reduced maintenance and zero on-site emissions. Finance spreads the capital cost while you capture operational savings from day one.
Several lenders are actively promoting green-asset rates in 2025–26, making this an opportune time to upgrade from fossil-fuel equipment. A broker can identify which lenders are running current green-asset programmes and whether your purchase qualifies.
Worked Example: £45,000 Electric Reach Truck
Hire Purchase - 5 Year Term
| Detail | Figure |
|---|---|
| Asset price (inc VAT) | £54,000 |
| VAT reclaimed (if VAT registered) | –£9,000 |
| Net asset cost | £45,000 |
| Deposit (0% - zero deposit lender) | £0 |
| Amount financed | £45,000 |
| Term | 5 years (60 months) |
| Rate (green asset rate: 6.5% p.a. flat) | 6.5% |
| Estimated monthly payment | ~£993 |
| Total cost of credit | ~£14,580 |
| Saving vs diesel equivalent at 8.0% | ~£2,025 over term |
Illustrative only. Green asset rates are subject to lender availability and credit status.
Lender Appetite for Electric Forklifts
| Lender | Electric Appetite | Battery Finance | Green Rate Available |
|---|---|---|---|
| Lloyds Bank | Strong | Bundled | Ask broker |
| HSBC | Strong | Bundled | Ask broker |
| Aldermore | Strong | Separate or bundled | Yes - ESG programme |
| Hitachi Capital | Strong | Separate or bundled | Ask broker |
| Close Brothers | Good | Bundled | Ask broker |
| Shawbrook | Good | Separate or bundled | Ask broker |
| Toyota Financial Services | Strong (own brand) | Bundled | Dealer negotiated |
| Jungheinrich Finance | Strong (own brand) | Bundled | Dealer negotiated |