Is a lift chair rental less expensive than buying a new one? Renting may seem like a less expensive option at first, but in the long run, you will realize that you have actually spent more than you could if you purchased a new one.
With pros and cons to both renting and purchasing, it pays to evaluate the patient’s current situation and capabilities, and then carefully consider which method of acquiring lift chairs is going to make both caregiver’s and the patient’s life easier.
Why Buy Instead of Getting a Lift Chair Rental?
Here is an overview of some reasons you prefer purchasing a new lift chair to renting one.
This is one of the most obvious factors to consider. Before renting a lift chair, you should look beyond your current situation and the project your costs over a few months or years. Though purchasing a new lift chair seems to be a larger one-time financial outlay, the cost accumulated during the rental period can add swiftly, and over the entire rental period you end up spending more. Moreover, you should also keep in mind that when you own one, you can see a return on your investment after selling the lift chair.
One thing that is for sure, the rental company has to turn a profit, so you should consider that the lift chair’s rental fee will include the buying price and also the cost of ownership, both marked up.
One of the biggest advantages of owning a lift chair is that it is available for your 24/7. As the assaying goes, if you own it, you control it. With you own a lift chair. You can conveniently react to unexpected changes in the patient’s schedules and also react to the patient’s needs at a moment’s notice.
Before deciding whether to buy or rent, weigh the potential risk of the rental company not having the type of lift chair you need when you need it. Moreover, rental chairs are limited to selection. This means that you can find your options for lift chairs are scarce. Unlike purchasing a new one, you can shop around and settle for one with the features you need.
A lift chair rental does not always come in the perfect condition. Some of the lift chairs are either damaged from the many years of use or are susceptible to breakdown and faults. This makes the buy option far more competitive than the rental option.
Regardless of your final decision, you need to be sure that all safety equipment is included and operational. Some rental lift chairs have safety equipment that is partly operational or do not operate at all which can be a great risk to the patient. A new lift chair comes with a seller’s guarantee, all operational and maintenance accessories, and manuals. Moreover, purchasing a new lift chair exposes you to the newest one with the latest technology.
Renting limits flexibility
Flexibility is also something to consider. For short term use, you may consider renting, but purchasing a lift chair gives you added flexibility. For example, if the doctor said that the patient will need to use a lift chair for three months, and then something unexpected happens and the period extends for another three months, you have the chair at your disposal. If the period ends and you decide you do not need it, you can resell to someone else.
Subject to rules and regulations
Renting a lift chair subjects you to rules and regulations that come with it. Purchasing a new lift chair means that it is entirely yours and you can do as you please. What I’m saying is that there’s no comfort of using a lift chair, you knowing that you will have to return it as it was initially. You may incur huge repair costs if something breaks or gets damaged. With your own lift chair, you can modify it to make the patient more comfortable. Moreover, there is no rental contract you need to sign, everything is in your hands.
It is strange to seat on a used lift chair, more so, if you start imagining how many patients have used it before you. Lift chairs rentals are not actually known for their cleanliness. Even though they are cleaned extensively, they cannot compare to new lift chairs. Choosing to rent could expose your loved one to a variety of different bacterial from previous users.
Pros of Buying New Lift Chairs
- Cheaper of over the long-term
- More flexible – since the lift chair is available whenever you need it.
- You can get a return on your investment when the lift chair is no longer in use
- Possible tax advantages
- Less downtime.
- You call the shots regarding maintenance
- Cons of renting lift chairs
- You will pay more in the long run
- If you stop using the lift chair before the contract is finished, you are obligated to keep paying.
Factors to Think about when
Considering a Lift Chair Rental
You should consider the factors below if you have made your final decision on renting.
1. Length of Rental Period
This is one of the most important factors to consider. Does it make sense to rent if you need the lift chair for long-term use? You can decide if it’s more cost effective to buy or rent by determining the length of the rental period you need.
2. Frequency of repair or service
Consider the service schedule and also the likelihood of having to make repairs. For example, electric lift chairs often require servicing. You should also determine whether the on-site servicing is possible or you need to take care of the chair to be repaired.
3. Do you need to insure the equipment?
Some rental companies require you to insure the item rented. In some case, your monthly payment will include insurance fees.
4. Can you terminate the item rented early?
In case you are no longer in need of the lift chair or want to upgrade to a new one; find out in advance whether you can pay off your lease early, and whether there is a prepayment penalty. If there is, determine how much.
Renting a lift chair is not a practical solution, and it can incur unexpected costs. On the other hand, purchasing a new one is more beneficial in the long run when compared to a lift chair rental.