Renting vs. Owning Aerial Lifts — Which One Is Right for You?

Trying to narrow down the next move for your aerial lift needs? Deciding to rent or buy is a common fork in the road, often complicated by a mix of budget constraints, project timelines and operational demands. To help you make the best decision for your business, we'll discuss the advantages and disadvantages of renting vs. buying aerial lifts below. We'll also highlight the unique benefits of choosing a tracked lift and how they can take your projects to new heights.

Understanding Tracked Aerial Lifts

When you need a new lift, choosing a tracked spider lift might be the best decision you can make for your company. These compact aerial lifts are designed with tracks and outriggers, helping them access higher elevations and hard-to-reach areas like narrow spaces, uneven ground and steep inclines. With their greater flexibility in handling challenging terrain, tracked lifts are often more beneficial than traditional ones, and they're used in various industries, from tree care to construction. 

Here are some of the top features of these lifts from Tracked Lifts:

• Durable tracks for navigating off of trailers in seconds
• Compact size to fit through standard door frames
• Hybrid design to use with an onboard lithium-ion battery
• Portability to tow behind a pickup truck
• Radio remote control for easy steering

With these benefits, tracked aerial lifts grant you the flexibility to take on more projects and increase your bottom line, all while creating a safer operating experience. When you add a tracked aerial lift to your fleet, you can rest assured it will help you get the job done right.

Advantages of Renting Aerial Lifts

Although Tracked Lifts does not provide rental options, understanding the benefits of renting can help with your decision, especially if you have short-term needs or specific project requirements. 

Flexibility and Convenience

Renting is ideal for seasonal work or one-off projects because there's no long-term commitment. For example, a landscaper who occasionally needs to reach heights for specific projects may find renting more convenient. They can easily exchange or upgrade their equipment as needed, making renting a practical choice for businesses with changing needs.

Lower Upfront Costs

When you rent, you also avoid the higher upfront costs of buying equipment outright. You only pay for the equipment for the duration of your project, making renting cost-efficient if you only need the equipment occasionally or for a short-term project.

No Maintenance or Storage Needed

Rental companies usually take care of time-consuming delivery, pickup and maintenance tasks for you. By letting your provider handle it all, you can save space and focus on your projects without additional expenses.

Advantages of Owning Aerial Lifts

While renting can be a great option, there are numerous advantages to buying your tracked aerial lift.

Long-Term Cost Savings

Compared to renting, purchasing your lift can save you money in the long run if you need your equipment for long-term projects. The right equipment can lead to a high return on investment through efficiency gains and less downtime. For instance, an arborist who frequently works at heights would benefit from owning a tracked aerial lift, as it reduces ongoing costs associated with rentals.

Customization and Familiarity

When you buy your aerial lift, you have total ownership and control over what you do with it, whether that means customizing it to your project needs, adding new attachments or trying out advanced features.

Availability and Convenience

When you own your equipment, you can immediately access it when an urgent project comes up. You don't have to spend time searching for and scheduling rental equipment or waiting for availability — you can get straight to work.

Factors to Consider When Deciding Between Equipment Rental vs. Ownership

The choice between renting or owning will depend on your budget, project duration and operational needs. Here's a detailed comparison to help you make the best choice for your business. 

1. Cost Considerations

Keep your financial needs in mind when choosing between renting or owning: 

• Renting: Renting aerial lifts can be less costly if you only need the equipment briefly. You can allocate resources to other areas of your business without a larger upfront investment. However, rental costs can add up over time if you use the equipment longer, and you can run into fees if you use it past the due date.
• Buying: The cost of owning lift equipment can be worthwhile for long-term projects or frequent use. While the initial cost will be higher, owning can become more economical over time and even provide tax benefits like depreciation and interest deductions. For instance, section 179 of the Internal Revenue Code states that you can purchase new or used equipment and deduct the full cost of it from your taxes.

2. Maintenance and Downtime

Consider the time and costs associated with maintenance when choosing between renting or buying:

• Renting: Rentals typically include aerial lift maintenance costs and repairs so that you don't run into unexpected expenses down the road. These services also help you avoid downtime and ensure the lift is in good working condition.
• Buying: Owning aerial lifts means you handle maintenance and repairs, which gives you control but requires resources. However, purchasing from Tracked Lifts means access to expert maintenance and support, helping you avoid downtime and increase the equipment's longevity. 

3. Project-Specific Needs

Determine your project needs when deciding whether to buy or rent your aerial lift: 

• Renting: Renting is best for projects that require specialized equipment or have variable needs. If you need different types of aerial lifts infrequently, renting offers flexibility.
• Buying: If your projects often call for the same type of aerial lift, owning one can be more convenient. It ensures you always have the right equipment on hand. You can also customize your equipment to meet project needs, granting more adaptability.

4. Storage and Logistics

Consider your available space and resources when deciding between owning or renting equipment: 

• Renting: When you rent your aerial lift, you don't need long-term storage solutions. Rental companies will deliver and pick up your equipment, saving you time and space.
• Buying: Owning aerial lifts requires proper storage space to protect them from hazards and theft. Adequate space and storage can preserve the condition and value of your investment.

Purchase High-Quality Tracked Aerial Lifts at Tracked Lifts

The choice to rent or purchase aerial lifts will depend on your financial situation, project needs and operational capabilities. Turn to Tracked Lifts for safe, durable and efficient tracked aerial lifts. We offer a wide range of quality tracked lifts for sale and provide expert support — from annual inspections to repairs and maintenance — at each of our service locations.

We look forward to helping you find the right equipment for your business. Contact us to learn more about purchasing tracked spider lifts today!