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Why Scissor Lifts for Hire are better than Buying Your Own

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

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

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.

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