Boom Lift Cost Trends 2024: New, Used, Rent
We’re keeping tabs on boom lift cost trends so you can remain up-to-date, whether you plan to buy, sell, rent, or are just researching. Here’s a table comparing the costs to buy new, buy used and rent a boom lift in 2024:
A new boom lift costs $25,000 to $100,000, depending on height, capacity, and features. Used boom lifts typically cost $10,000 to $50,000 based on age and condition. Renting a boom lift ranges from $250 to $1,500 per day, depending on the lift’s reach and specifications.
Understanding Boom Lift Types and Their Cost Factors
Boom lifts vary in type, each with its own features that impact cost. Key factors include power source, boom type, and size. Let’s dive into these to guide your choice.
Electric vs. Diesel Boom Lifts
Electric boom lifts are pricier at first but save money over time. Diesel lifts are cheaper to buy but cost more to run and maintain. Electric ones are best for indoor use, while diesel is better for outdoors.
Articulating vs. Telescopic Boom Lifts
Articulating boom lifts are versatile and good for tight spots. Telescopic lifts reach high but cost more. Articulating lifts are great for complex areas, while telescopic lifts are best for high-reaching tasks.
Size and Reach Considerations
Bigger boom lifts with more reach cost more. Think about what you need to decide on size to get the best value.
| Boom Lift Type | Average New Cost | Average Used Cost | Best For |
|---|---|---|---|
| Electric Articulating | $30,000 – $50,000 | $18,000 – $30,000 | Indoor maintenance, tight spaces |
| Diesel Articulating | $35,000 – $60,000 | $20,000 – $35,000 | Outdoor construction, rough terrain |
| Electric Telescopic | $40,000 – $70,000 | $25,000 – $40,000 | High-reach indoor applications |
| Diesel Telescopic | $45,000 – $80,000 | $28,000 – $45,000 | Extreme height outdoor work |
When picking a boom lift, think about your project, work area, and budget. Knowing these factors helps you choose the right lift for your needs and budget.
New Boom Lift Costs: What to Expect
The price of a new boom lift changes a lot based on its size, type, and features. A small electric scissor lift might cost between $12,000 and $14,000. But, bigger models can cost much more. For example, a 60 foot boom lift starts at about $50,000, and an 80 foot one can be over $100,000.
When looking at a new boom lift, think about the brand, warranty, and support after you buy it. These things add to the value of your purchase. The construction world usually pays between $25,000 and $100,000 for a new boom lift, depending on what it has.
About 60% of construction companies choose to buy new boom lifts instead of renting or hiring. This shows how popular owning one is in the field. Remember, a new boom lift loses about 20% of its value in the first year, which can affect how much it’s worth later.
When you’re looking at the cost of a boom lift, think about what you really need. Scissor lifts can go from 10 to 60 feet high, with most being 20 to 40 feet. They usually hold about 1,000 pounds, but some heavy-duty ones can handle up to 50 tons.
Used Boom Lift Pricing: Finding Value in Pre-Owned Equipment
Buying a used boom lift can save you money. Prices for used models are 30-50% lower than new ones. This makes them a smart choice for those watching their budget. Let’s look at what affects the cost of used boom lifts and where to find deals.
Factors Affecting Used Boom Lift Prices
Several things affect the cost of a used boom lift. Age, condition, brand, and demand all play a role. For example, a 2012 Trailer Mounted Boom Genie lift might cost $18,500. But a newer 2014 TZ50 Genie New Towable Lift could be priced at $39,500.
Usage hours also matter. A 2012 TZ50 Towable Genie TZ 50 with less than 100 hours might sell for $47,500.
Where to Find Reliable Used Boom Lifts
You can find used boom lifts at dealerships, online, and auctions. Many sellers offer a range of options. For instance, you might find a 2010 Genie Lift TMZ 34/20 Trailer Mounted Towable Boom for $15,200. Or a Genie Articulating Boom Lift Z30/20N with a warranty for $24,900.
Inspecting Used Boom Lifts Before Purchase
Always inspect a used boom lift before buying. Check its maintenance history and structural integrity. Make sure it meets safety standards. The cost of a boom lift inspection is worth it to avoid future problems.
Remember, a thorough inspection can save you from costly repairs down the road.
Used boom lifts offer great value. They provide significant savings and are often ready for immediate use. With careful shopping, you can find high-quality lifts at good prices. Just be sure to do your homework and inspect before you buy.
Boom Lift Rental Cost (Options and Pricing)
Renting a boom lift is a smart choice for short-term needs. The cost depends on the lift’s size and how long you rent it. For a 30-foot boom lift, expect to pay about $200 a day, $400 a week, or $2000 a month. The price goes up as the lift gets bigger.
A 60-foot boom lift costs around $400 a day, $1000 a week, or $2400 a month. The biggest 120-foot models cost $1400 a day, $3500 a week, or $9000 a month. These prices show how the cost changes with the lift’s height.
Remember, there are extra costs when renting a boom lift.
Delivery and pick-up can cost between $150 to $200. The type of power source, like gas or electricity, also affects the price. Plus, OSHA training for the operator costs between $30 to $80 per person.
Renting gives you flexibility and access to the latest models without a long-term commitment. It’s great for businesses that want to try different lifts or have changing needs. Renting can save you up to 13% compared to buying, making it a good choice for many.
| Boom Lift Size | Daily Rate | Weekly Rate | Monthly Rate |
|---|---|---|---|
| 30-foot | $200 | $400 | $2000+ |
| 60-foot | $400 | $1000 | $2400+ |
| 120-foot | $1400 | $3500 | $9000+ |
Buying vs. Renting a Boom Lift: A Cost-Benefit Analysis
Choosing between buying or renting a boom lift needs careful thought. The cost of owning a boom lift is high, so it’s important to consider both sides. If your business uses boom lifts a lot, buying might save money over time. You should buy if you use it more than 60-70% of the time.
Renting gives you flexibility, which is great for short-term needs or if you don’t use it often. It also means you don’t have to worry about maintenance. Rental costs usually include delivery, pick-up, and upkeep, which can save you money.
When looking at the return on investment (ROI) for boom lifts, think about how often you use it, storage, and money flow. Owning a boom lift means paying upfront, maintenance costs, and it might lose value. But, rental fees can be written off as business expenses, which could be a financial plus for some.
To decide wisely, think about your business needs, how long you’ll use it, and how often. Compare the total cost of owning versus renting over time. Don’t forget to include extra costs like moving, storing, and following rules when choosing the best option for your business.
Hidden Costs of Boom Lift Ownership
Buying a boom lift means more than just the upfront cost. There are hidden expenses that can affect your budget. It’s important to think about these costs when deciding to own a boom lift.
Maintenance and Repair Expenses
Keeping a boom lift in good shape costs money. Regular maintenance is key for safety and to make it last longer. Repair costs can rise fast, whether it’s for small fixes or big problems. Unlike renting, where these costs are usually covered, owning means you have to budget for repairs.
Transportation and Storage Costs
Moving a boom lift to different job sites can be expensive. You might need to hire a special transport or buy a vehicle just for it. Storage costs also add up. You’ll need a safe place to keep it when it’s not in use, which costs money.
Compliance and Inspection Fees
Boom lifts must meet safety standards, which means regular checks and certifications. These costs are the owner’s responsibility, including annual inspections and updates. Training for the operators is also part of this, to ensure they use the equipment safely and efficiently.
| Cost Category | Ownership Impact | Rental Advantage |
|---|---|---|
| Maintenance | Full responsibility | Typically included |
| Repairs | Owner’s expense | Often covered |
| Transportation | Additional cost | Usually included |
| Storage | Facility needed | Not required |
| Compliance | Owner’s responsibility | Managed by rental company |
Financing Options for Boom Lift Purchases
Buying a boom lift is a big deal. Luckily, there are many ways to make it easier. Financing costs start at 3.25%, with terms from 24 to 72 months. This lets businesses pick a plan that matches their budget and cash flow.
Many lenders offer fast approval for boom lift leases. They review applications in 2-4 hours. Funding can be ready in just 1-2 business days. This is great for companies that need equipment fast.
Financing amounts vary a lot, fitting both small and big purchases. Loans range from $10,000 to $2 million. You can get 100% financing for new and used boom lifts, so you don’t need to pay a down payment.
Flexible payment schedules are a big plus. You can choose monthly, quarterly, annual, semi-annual, or seasonal payments. This way, you can match payments to your business’s cash flow.
- Access up to $500,000 with a simple application
- Larger amounts up to $10 million available with financial statements
- Tax benefits may apply to certain loan or lease arrangements
- Special programs for municipalities and government entities
Some manufacturers, like Terex, have trade-in programs. These help you switch to new models while keeping your cash flow steady. They can make upgrading your fleet cheaper.
Maximizing ROI: Tips for Efficient Boom Lift Usage and Cost Management
Boosting boom lift efficiency is key to maximizing your return on investment. By focusing on aerial lift cost management, you can significantly improve your lift equipment ROI. Start with proper operator training to prevent accidents and equipment damage. This not only saves money but also enhances workplace safety.
Regular maintenance is vital for boom lift efficiency. Daily inspections can catch minor issues before they become major problems. Check for leaks, damage, and fluid levels. Don’t forget to clean your lift regularly to prevent rust and ensure smooth operation. These simple steps can extend your equipment’s lifespan and reduce long-term repair costs.
Strategic job scheduling is another way to boost lift equipment ROI. Maximize utilization by planning projects carefully. When your boom lift isn’t in use, consider renting it out to generate additional revenue. This can offset ownership costs and improve your overall aerial lift cost management.
Lastly, invest in equipment management software to streamline maintenance and enhance efficiency. These tools can help track assets, ensure accountability, and schedule preventive maintenance. Remember, postponing maintenance can lead to costly repairs down the line. By implementing these strategies, you’ll be well on your way to maximizing your boom lift’s ROI.
FAQ
How much does it cost to buy a boom?
Boom lift prices range from $25,000 to $100,000, depending on factors like size, lift height, and model type. Electric boom lifts tend to be on the lower end, while diesel-powered or higher-reach models cost more.
How much is a boom cost?
Boom lifts typically cost between $25,000 and $100,000. Pricing varies based on lift height, power source (electric vs. diesel), and specific features like platform size and maneuverability.
Why are boom lifts so expensive?
Boom lifts are expensive due to their complex engineering, safety features, and durable materials. They are built to handle heavy loads, reach extreme heights, and withstand tough conditions, all of which drive up manufacturing and maintenance costs.
How long do boom lifts last?
Boom lifts generally last 10 to 20 years, depending on usage and maintenance. Well-maintained lifts used under optimal conditions may even exceed 20 years, while heavy use in harsh environments can shorten their lifespan.
