Scissor lifts are a type of construction equipment that consists of two sets of scissor-like supports that are connected at the base. They are typically used to raise workers or materials to high places, such as the second story of a building. Scissor lifts can be either electric or diesel-powered and come in various sizes and configurations.
While scissor lifts can be a valuable addition to any construction project, they can also be costly. This article will explore the cost of scissor lifts and how to finance one. We’ll also provide some insights on why financing a scissor lift is the way to go.
What Is a Scissor Lift Used For?
A scissor lift is a type of aerial platform that can be used to raise workers or materials to high places. Scissor lifts typically have a large working platform and can reach up to 50 feet in the air. They are often used during construction projects to allow workers to access hard-to-reach areas, such as the second story of a building.
Scissor lifts can be either electric or diesel-powered and come in various sizes and configurations. Sizes typically range from 12 feet to 32 feet, while configurations can include rough terrain, indoor/outdoor, and hybrid models. These differ in terms of how they are used and where they can be used. For example, a rough terrain model is designed for use on uneven surfaces, while an indoor/outdoor model can be used both indoors and outdoors.
How Much Does a Scissor Lift Cost?
The cost of a scissor lift depends on the size, brand, configuration, and whether it is new or used. On average, a new scissor lift can cost anywhere from $15,000 to $50,000. However, the cost of a used scissor lift will be significantly less. A used scissor lift can cost as little as $5,000.
Given the steep pricing, scissor lift financing can be a good option for businesses. Scissor lift financing is a type of equipment financing that allows businesses to purchase a unit without having to pay the full cost upfront. Instead, businesses can finance the cost of the scissor lift over time with monthly payments.
Factors that can affect the cost of buying a brand new scissor lift include:
- Size: Smaller units typically cost less than larger units.
- Brand: Some brands, such as Genie and JLG, are known for their quality and durability, and as a result, their scissor lifts can be more expensive.
- Configuration: The configuration of the scissor lift will also affect its price. For example, a rough terrain model is designed for use on uneven surfaces and will likely cost more than an indoor/outdoor unit.
- New vs. Used: The cost of a new scissor lift will be higher than the cost of a used one.
To give you an idea how much you might shell out for a scissor lift, here’s the average pricing range for some of the most popular brands:
- Genie: $15,000 – $25,000
- Snorkel: $20,000 – $30,000
- MEC: $25,000 – $35,000
- JLG: $30,000 – $40,000
- Ballymore: $35,000 – $45,000
- Teupen: $40,000 – $50,000
- Skyjack: $45,000 – $55,000
Buying New vs. Used Scissor Lifts
When it comes to buying a scissor lift, you have two main options: buy new or buy used. Both choices have pros and cons, and the best option for your business will depend on your needs and budget.
Advantages of Buying New Scissor Lifts
- You’ll be the first owner, so you’ll have a warranty: This means that the unit will likely come with a manufacturer’s warranty, giving you peace of mind knowing that if something goes wrong with the lift, you’re covered.
- You’ll have the latest features: Newer models come with updated safety features, such as sensors that stop the lift if it detects an obstruction.
- You’ll get more use out of it: Since a new scissor lift will likely last longer than a used one, you’ll be able to get more use out of it over time. This means that you’ll be able to get your money’s worth and then some.
Disadvantages of Buying New Scissor Lifts
- They’re more expensive: One of the downsides of buying a new scissor lift is that they can be quite pricey. If you’re on a tight budget, you may not be able to afford a new lift.
- You may not need all the bells and whistles: Another downside of buying a new scissor lift is that you may not need all the features that come with the latest models. If you’re just looking for a basic unit, you may not want to pay for capabilities you’ll never use.
Advantages of Buying Used Scissor Lifts
- They’re more affordable: This works well if you’re on a tight budget.
- You can find them in good condition: Many businesses take good care of their units and only sell them when they’re no longer needed.
- You may be able to negotiate: Since you’re buying a used scissor lift from a private seller, you may be able to negotiate on the price. This can help you get a great deal on a quality unit.
Disadvantages of Buying Used Scissor Lifts
- They might not last as long: One of the downsides of buying a used scissor lift is that it may not last as long as a new one. This is because the unit has already been used (and, perhaps, abused) by its previous owner.
- They might not have a warranty: You’re on your own if something goes wrong.
- You might have to pay for repairs: If you buy a used scissor lift, you may have to pay for repairs down the road. This is because the unit may not have been well-maintained by its previous owner.
Why Financing a Scissor Lift Makes Sense
There are several reasons why financing a scissor lift makes sense for businesses. First, it allows owners to get the equipment they need without paying the full cost upfront. This can free up working capital that can be used for other purposes.
Another reason to choose scissor lift financing is that it can help businesses budget for the equipment over time. By making monthly payments, businesses can spread the cost of the lift over a longer period of time and avoid taking on a large expense all at once.
Finally, financing a scissor lift can provide businesses with tax benefits. In many cases, businesses can deduct the interest paid on their equipment financing from their taxes. This can save businesses a significant amount of money over time.
If you’re looking for scissor lift financing, Charter Capital can help. We offer a variety of equipment financing and leasing options that can meet the needs of your business. Since 1977, we have helped many business owners acquire the equipment they need to start a new venture or scale their operations. We offer loans ranging from $10,000 to $1 million.
Contact us today to learn more about our services.