Key highlights
- Scissor lifts earn steadily across fit-outs and maintenance work
- Financing spreads the cost and keeps cash free for the business
- Owning avoids repeat hire fees on regular work at height
- Overdrive compares 80+ lenders on a single application
For operators who use one regularly, financing a scissor lift is usually worth it. Access equipment earns steadily across fit-outs, maintenance and construction, and financing lets you own the lift while spreading its cost over the jobs it works, rather than paying a large sum upfront. Overdrive compares more than 80 bank and non-bank lenders on one application to match the finance to your workload, and below we cover when financing a scissor lift makes sense and when hiring may still suit you.
Why financing suits regular access work
If work at height is a routine part of what you do, owning a scissor lift usually beats hiring one for every job. Financing spreads the cost over the years the lift earns, so it pays its own way while your cash stays free for wages, transport and other equipment. It also keeps the machine on hand whenever a job lands, without waiting on hire availability or paying repeated fees. For eligible applicants, a chattel mortgage or hire purchase can be structured around your cash flow, and a balloon can keep monthly repayments lower during the term. For hire businesses, an owned lift can also become billable to clients.
What it typically costs
Scissor lift finance is generally priced from around 6.55% p.a. for strong, asset-backed deals; lower-doc, older or cheaper machines and weaker credit are priced higher, and rates are indicative and subject to lender assessment. Terms usually run one to seven years, and a balloon or residual can be added to reflect the machine's expected end value. A deposit or trade-in lowers the amount financed and can improve the rate, while older units, private sales and lighter documentation tend to price higher. Because offers vary between lenders, comparing several is the practical way to keep the cost down. Same-day pre-approval and quick settlement may be available for eligible, well-prepared applications, though pricing always remains subject to lender assessment.
When it is worth it, and when to hire
Financing pays off when the lift is needed often enough that repeat hire fees would soon rival a repayment. If you run fit-outs, maintenance or construction work regularly, owning the machine usually costs less over a year and keeps it available on demand. Hire can still suit a one-off job, or a lift height you rarely need. The clearest test is to compare your likely hire spend across a year against the repayment, alongside how often the lift would sit idle. Where the machine earns often, financing tends to come out ahead comfortably.
Potential tax treatment
Depending on the structure, interest and depreciation may be deductible, and GST treatment differs between a chattel mortgage and a lease. These general points are not tax advice, and the right structure depends on your entity, turnover and how the machine is used, so check with your accountant before committing. Arranging the finance with the tax outcome in mind from the start usually beats fixing it afterwards. A broker can set the deal up so your accountant has clean, workable options at tax time, which often saves money and avoids restructuring the arrangement later.
If a scissor lift would earn its keep in your business, it is worth seeing the numbers against your own workload. Overdrive's broker, Simon Kendrick, compares more than 80 lenders on one application and can talk through whether financing suits you. Contact us for a free, no-obligation quote when it works for you.
Frequently Asked Questions
Can I finance a used scissor lift?
Yes, used scissor lifts are financed routinely. Age, hours and condition affect the term and rate, with older machines generally attracting shorter terms and higher pricing. Because lender appetite for used access gear varies, comparing offers helps. Overdrive can match your lift to lenders comfortable with its age and value.
Is financing worth it for a hire fleet?
It often is. For hire businesses, a financed lift can be billable to clients while repayments are spread over time, so the asset can help cover its own cost. Lenders assess utilisation and your overall position. A broker can compare lenders that understand hire-fleet cash flow and structure the finance to suit.
Should I buy or keep hiring?
If you hire a scissor lift most weeks, financing usually costs less over a year and you own an asset at the end. Hire still suits occasional or specialised needs. Comparing your annual hire spend against a repayment, and how often the lift would sit idle, quickly shows which option makes sense.
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