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The pros and cons of buying versus renting a stairlift

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If you have mobility problems, installing a stairlift in your home can provide huge benefits. Not only is it easier for you to navigate the stairs, it can prevent serious accidents and importantly, it allows you to maintain your independence for much longer.

If you have already made the decision to have a stairlift fitted, below are some of the pros and cons of buying versus renting this piece of equipment.

Buying

Pros

If you don’t want to add another expense to your monthly budget, buying a stairlift outright is a good option. Once it’s paid for it’s one less thing to worry about as you won’t have payments coming out of your account every month.

When you buy something outright it normally works out cheaper than renting does in the long-run. This may be worth considering if you know your stairlift is going to be a life-long purchase because if you’ve been making monthly payments for ten years for example, it very likely would have been significantly cheaper to just buy it in the first place.

Cons

Don’t forget that in order to keep your stairlift in perfect and safe working condition, it’s important to have it serviced on a regular basis. This, as well as any repairs are an added expense that people often forget about which can be a problem if your budget is tight. When you outright buy a stairlift, maintenance costs are your responsibility. When you rent however, this service is usually included in the rental price.

Renting

Pros
shutterstock_314083190The biggest benefit of renting a stairlift is the fact that you don’t have to pay out a big lump sum in one go. Not everybody has thousands of pounds laying around – especially during retirement – so paying this expense off in smaller, more affordable monthly payments is far more practical.

If you’ve just had surgery or are recovering from a fall, you may not necessarily need your stairlift on a permanent basis. In this case, renting is perfect because it enables you to have the extra support you need while you’re getting back on your feet without having to pay for something that you’re not going to need in six months’ time.

A stairlift is a big purchase so naturally you want to ensure that you make the right decision. Renting one allows you to try it for size before you commit to anything. If you love the model you can keep it but if it’s not quite right, you can easily try something else.

A huge benefit of renting is that you always get to have the latest and greatest stairlift. Because it’s a big expense, it’s unlikely that many people can afford to upgrade every time a new model comes out. When you rent however you can change your stairlift as frequently as you wish. This is also ideal if your mobility needs change.

Cons

If you buy a stairlift outright, you have the product installed once and then that’s it. If you’re renting however, you may be more inclined to change the model more frequently. This means that you’re going to have to go through the upheaval of having one removed and another installed which often involves pulling up carpets and removing and re-installing tacking rails.