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I've been using hoists for years and good hoists need bugger all maitence. A pit is more of a saftey concern due to carbon dioxide and carbon monoxide build up in the pit.
Yes hoists need maitence obviously! but good hoists will work for 20 years and need one set of cables. Plus pits are restrictive.Every 10 years, if the hoist has cables, they MUST be replaced...A snapped cable can have wonderful consequences
I have seen hoists, where the locking latch, constantly catches, once released, causing the ramp to lean to one side or corner when lowering.
Seen cable hoists that fail to lock on the upper most locking point...
I have seen hydraulic hoists, where the they fail to lift, or lower...(Got one at work that is 2 years old and has been out of action for 3 months, due to these sorts of failures).
Been using hoists for a couple of decades and seen these sorts of issues
A pit.....No maintenance and more suited to a home application situation