Why Scissor Lifts for Hire are better than Buying Your Own – Duralift
You know you need a scissor lift on an upcoming job but now you aren’t sure whether it would be worthwhile to buy your own on lease for ongoing jobs or simply hire on a job to job basis. Let us help you decide.
We have covered the hire vs buy topic in a couple of other articles before such as Why Hiring is Cost Effective or Should I Hire or Buy Construction Equipment? but in case you missed those articles (feel free to check them out now for a more in-depth opinion!) we will cover the top points here:
HIRING A SCISSOR LIFT
Pros
- Frees up cash flow
- Rentals aren’t liabilities whereas an equipment lease is – making it easier to apply for a loan
- Frees up resources
- Keep up with technology with up to date equipment
- Allows equipment to be on more than one job at a time
- Various type of equipment can be hired to increase efficiency on each job
Cons
- Project/Job costs appear more expensive
- Rental costs add up over time
BUYING A SCISSOR LIFT
Pros
- Once machine is paid off rental costs are eliminated
Cons
- Requires maintenance and servicing
- Machines can sit idle in periods of low demand
- Requires transport abilities
- Ties up capital
- Not all jobs will need the same type of equipment
Now you be the judge…..and if second-hand equipment purchasing seems more appealing check out that option HERE as well.
