Buying Versus Renting Scissor Lifts – What To Look Out For
in Scissor Lift Hire by Dave
Do you know that you need an aerial platform for an upcoming job, but you aren’t sure whether it would be worthwhile to purchase one or simply hire it for the duration that you require it? Let us help you decide. Below, we have taken a closer look at the purchase versus hire debate in hopes of helping you to determine whether buying or renting scissor lifts is the better idea.
There are a number of advantages and disadvantages to be aware of when it comes to renting scissor lifts. We have outlined just some of the key points in the list below:
- Pro – It frees up your cash flow, as it is far more expensive to purchase a machine outright than it is to rent one.
- Con – It can make projects and/or job costs appear more expensive, as hire fees will be applied to each job instead of to the business as a whole.
- Pro – Keep up with the latest and most up to date technology in the realm of aerial platforms when you would otherwise not be able to afford it.
- Con – Rental costs can add up over time, meaning that you can end up spending more than you would purchasing outright.
- Pro – There is a variety of different models to choose from, allowing you to increase efficiency with each job you tackle.
- Con – Depending on the time of year, you may have to wait until the model that you require has become available.
- Pro – It frees up your resources, ensuring that you have capital for other important business tasks and decisions.
There are also plenty of advantages and disadvantages to note when it comes to purchasing scissor lifts outright. We have outlined just some of the key points in the list below:
- Con – You will be responsible for the servicing and maintenance of the lift, which can be time consuming and costly.
- Pro – Once the machine has been paid for, that’s it. There are very few ongoing costs associated with purchase.
- Con – In times of idle activity, machines are sometimes known to sit idly (which can seem like a waste of money).
- Pro – You can rest assured that the machine will always be on hand when you need it; you won’t need to wait around.
- Con – It is unlikely that every job will require exactly the same type of machine, so there is no one-size-fits-all solution.
- Pro – You have the option to purchase a brand new or a second hand model to meet your needs and budget.
- Con – You will need to have transport abilities to ensure that you can get the machine from jobsite to jobsite.
We hope that the information provided above has enabled you to determine whether buying or renting scissor lifts will best meet your needs. Whilst there isn’t really a right or a wrong answer, it is important to remember that what suits one business or person may not suit another. If you require help reaching a decision, reach out to our expert team today.