Buying vs. Renting: Finding the Best Aerial Work Platform Solution

Buying or renting an aerial lift work platform is a major decision for your business. Luchang understands not everyone knows exactly how to make it. In this article we outline pros and cons to buying and renting this type of machine. Aerial work platforms help safely reach high points, and are very useful in building, repair, and construction work. Being able to determine if to rent or buy, saves your company time and money. 

How to Make the Best decision for your Business and purchase or rent your aerial work platform? 

When making a decision, there are things to look for to decide whether to purchase or rent. The first, look at how often your business uses one. If your company uses it consistently, it's wise to consider purchasing, allowing you access at all times. Renting may be useful for a single project or for a short duration as you would not need to worry about upkeep or storage costs associated with ownership. 

Secondly, the financial aspect is key. Purchasing an aerial work platform comes at a high cost, along with maintenance costs, insurance costs, and repair costs. Renting, on the other hand typically has lower initial outlay, allowing you more financial control and managing cash flow effectively. If your company only needs one for a limited period (e. g., a few weeks for a specific construction project), renting would be more economical. 

Lastly, consider the type of aerial work platform that will best suit your business and its needs. There are numerous types including scissor lifts, boom lifts and more, each for a unique application, with its own price range. Owning one means choosing a model for more typical jobs, but renting enables a tailored choice per job as needed. Luchang provides many to choose from, simplifying the choice of the appropriate one. 

Also the team you have should be considered; will they have the required knowledge and skill set to operate a platform safely? Owning a platform would mean that you will need to train your team on operating it, whereas renting would sometimes allow the rental company to provide this training, making things easier and ensuring safety standards are met, especially for working at heights. 

Buying vs. Renting explained. 

We break down the options: Owning a high work platform involves a commitment. It means spending a larger sum of money upfront which is a big decision for any business. However, this comes with unlimited access to equipment, allowing the operator to work on demand, an exciting prospect! Ownership means the burden of repairs and maintenance will eventually fall on you and the more you use a machine, the more prone it is to break down. Be sure to budget for potential surprise costs that come with having your own aerial platform for sale. 

Another thing to consider is if and how business will change. If you are undertaking varied projects requiring different kinds of machines, owning one specific model may restrict options as one would be losing money selling and repurchasing different types of platforms. 

Renting is akin to borrowing; you only pay for the usage time which works to keep costs low especially for short-term requirements. Since the rental company often covers repairs and maintenance you can be certain the machine you rent will be in working order. They also provide replacement if something goes wrong very quickly. 

However if you rent the machine far too often the costs will mount up rapidly and if you find yourself spending much more on renting than on buying, the sensible solution is to invest. Luchang say it is crucial to evaluate your specific requirements and consider how often you would require a high work platform in combination with how much cash your company can afford to spend on it.  

Finally think about future business. If the company is expanding and the need for aerial work platform will become greater and more frequent, purchasing one would be the more cost-effective solution. However if your business is somewhat unsure regarding the project landscape, the flexibility offered by renting could be the preferable choice. Regardless of whether to buy or rent an aerial work platform, Luchang can help you make the best decision for your company. 

What Are Advantages of Buying Aerial Work Platforms? 

Buying an aerial work platform such as a boom lift or scissor lift has several advantageous benefits. Firstly, if you own the equipment, you will have unrestricted access, at any time and for any job, which is excellent when undertaking frequent repairs on high buildings or any other time it's needed at height. Using your own lift is efficient as you will not need to worry about arranging delivery. Additionally, if you maintain your lift it should provide a longer service life and be reliable as well as well kept, unlike a machine owned by a hire company which may be poorly cared for. You save money in the long term. Renting costs can escalate rapidly. Using your own equipment also allows you the tax benefits on purchases, where applicable. Lastly, companies are proud of what they own and will look more impressive with top of the range tools. 

Where to Buy High-Quality Aerial Work Platforms for Wholesale Prices? 

If you want to make a high quality investment by purchasing an aerial work platform, you will need to find the appropriate outlet for high quality products sold at wholesale prices. Luchang offer a comprehensive range of aerial work platforms for numerous purposes, purchase from Luchang to receive durable and safe products. Alternatively look for dealers or makers who sell direct, allowing them to cut out the intermediary costs which leads to the cheapest option, and also allowing you to discuss what kind of machinery will suit you best and if necessary order custom made platforms. Also online shops provide a way of sourcing machines where you will likely receive a reduction from standard retail prices for aerial work platforms. When sourcing your machine from a supplier you could also check that reviews or ratings on product standards are available. Tradeshows are a very good way of sourcing equipment in that they allow you to compare many brands of machines, to discuss requirements and negotiate pricing. Finally look at the option of buying second hand, the right person may be able to pick up a great deal although you will need to inspect carefully. 

What Are Long-Term Cost Benefits of Buying Aerial Work Platforms? 

While a purchase of an aerial platform may appear costly at first sight, it is far more cost effective to purchase rather than hire one as there is less payment over time, if you need the machine on an ongoing basis. Using a machine every time for each project will eventually save your business much more cash over time. Maintenance on one of these platforms should be much less of a concern if it is owned by your company; a higher standard of care should ensure more usage before any significant repairs are needed, something that cannot always be relied on when renting one. If one owns equipment there may be tax benefits to consider where it will be tax deductable in many cases. Also being able to access the machinery whenever it is required will no doubt increase efficiency within the business and generate more revenue for the company.