Lift Leasing vs New Installation

We completely understand that buying a lift outright is not a viable option for all businesses. This is why, although we do not offer leasing services directly, Sheridan Lifts are more than willing to offer our expertise to help you understand the best route to take when choosing a lift. 

How does leasing a lift work?

Of course, the exact leasing plan will differ from provider to provider; however, generally speaking, you would pay monthly, or yearly, for the use of your lift. The lift would be provided to you as a service, rather than a commodity or asset, making you, or your company, a lift user rather than a lift owner. 

The benefit of this is that, rather than having to pay the expense of owning a lift outright, the cost would be spread out over a longer period of time, minimising the capital that you would have to part with initially. This is ideal for businesses that are at the beginning of a growth phase as it enables them to save valuable capital that can be invested into other areas of their business, such as recruitment.

It’s also really important to consider the potential tax benefits of lift leasing. Certain businesses that qualify are able to take away their lift leasing payments from their taxable profits, which then lowers the overall net cost of leasing the lift equipment.

Lift Leasing vs New Installation

Benefits of lift leasing

  • Access to a wide variety of lifts – From trendy passenger lifts to robust service lifts, you’ll be able to choose the right lift for your business.
  • Higher spec equipment – Leasing equipment, the nuts and bolts that make up the lift means you have access to the equipment you may otherwise not have been able to afford via a large lump sum payment. 
  • Preserving capital to invest in your business – As lift leasing involves smaller monthly payments rather than having to pay out a large sum upfront, you will not have to experience a significant dip in your capital. Instead, this capital can be invested elsewhere in your business. 
  • Hassle-free upgrades – A big bonus of leasing a lift is the ease with which you can apply for an upgrade with just a slight increase in your monthly payments. This means you can always keep up to date with the latest technology at a low cost.

Cons of lift leasing

  • Overall a costly option – While the initial small payments may make lift leasing an appealing option, it can sometimes work out to be more expensive than installing a completely new lift. 
  • Limited availability – If you are a large organisation or require a certain number of lifts, you may find it hard to locate a leasing company that can accommodate your exact requirements. 
  • Limited maintenance and repair services – Unfortunately, when leasing a lift you are not always guaranteed maintenance checks. Often these will come with additional costs you have not banked on.  Lift companies such as Sheridan Lifts provide a full 360-degree service to their customers, from lift installations to lift maintenance and repairs. Looking for a lift is not cheap. It requires regular maintenance checks and upgrades. We also provide bespoke lifts to fit certain spaces. 

Interested in learning more about leasing a lift? Contact us today on 0161 203 6299.

Lift leasing not for you? Why not check out our lift installation services instead. 

Lift Leasing vs New Installation

Benefits of installing a new lift

At Sheridan Lifts, we have 40 years of experience in the industry, and we are the largest independent lift installation company in the UK. Here are some of the reasons why a new installation could be for you. 

  • The wide range of lifts – We provide a range of lifts, including passenger lifts, platform lifts, automatic service lifts, glass lifts, car lifts, bespoke lifts, energy-saving lifts, and scenic lifts. 
  • Experience in your sector – In choosing a new lift installation by Sheridan Lifts, you will have the immediate consultation and expertise of an engineer with experience in your sector who understands your requirements and business needs. 
  • Full accreditations – Sheridan Lifts has the following accreditations: SMAS Worksafe accreditation, SafeContractor accreditation, ISO 14001 2015 certification, ISO 9001 2015 certification, CHAS premium plus accreditation, as well as holds memberships with ConstructionLine and the Lift and Escalator Industry Association. 
  • Regulation consideration – We ensure every lift is installed in line with the various building regulations and health and safety regulations required by law.
  • One upfront easy payment – While some lift companies may offer finance options, you have the ability to make the full payment at the time of purchase. This will reduce the stress of you having to make regular payments. 
  • Design control – In installing a new lift, you will have the option to discuss the design with your project manager who will confirm what is feasible and work with you to create your dream lift. 
  • A cheaper option long term – While you do have to pay a large sum upfront when installing a new lift, it works out cheaper than leasing a lift in the long term. This is because, with leasing, eventually the monthly payments will catch up with you.

Lift installations with Sheridan Lifts 

The lift installation process with Sheridan Lifts is an effortless process. Our engineers have worked on projects of all sizes and complexity. 

With Sheridan Lifts, you are guaranteed: 

  • A tailored package to suit your needs. 
  • Outstanding customer service.
  • Access to a 24-hour emergency helpline. 
  • A lift company with industry experience knowledge and accredited engineers. 

The process begins with a consultation with our project management team who will talk you through your lift options. If you have particular specifications or designs you would like to be met, you can send them to us using our contact form, and we will provide you with a free no-obligation quote. If you are starting from scratch without any design drawings, have no fear, our team will draw these up for you after the initial conversation. 

During the initial conversations, our team will help you choose the right lift. At Sheridan Lifts, we install: 

  • Service lifts
  • Passenger lifts
  • Dumbwaiters/automatic service lifts
  • Glass lifts
  • Car lifts
  • Bespoke lifts
  • Energy-saving lifts
  • Scenic lifts
  • Platform lifts

While choosing the right lift for you, the team will talk you through the entire project. This is where you will be able to outline your dream lift solution. The team will ask you about the following to ensure we capture your vision:

  • What size and capacity do you intend for the lift?
  • How much weight will you need the lift to hold?
  • Will the lift be for certain floors or the entire building? 

We will also double-check the planning permissions to make sure we have all our bases covered. This includes any industry-specific requirements, for example, fire lifts require certain materials and need to be placed in certain areas of the building in order to be effective.

As a lift company, we hold our own health and safety accreditations as well as the SMAS Worksafe accreditation and SafeContractor accreditation. We also hold memberships with the Lift and Escalator Association and Constructionline Gold. You can see a list of each of our accreditations and what they entail here. 

With over 40 years of experience in the industry, we are trusted to install lifts for companies across the UK, including Miller Homes, Shop Direct and The Energie Group. We also work with local councils and healthcare facilities such as care homes and the NHS to make sure communities across the country have accessible lifts. 

From Manchester to London, you will receive emergency maintenance support 24 hours a day on all new installation lifts. 

What are you waiting for? Book your consultation today!