I have a 9-1/2 foot high ceiling. When my car is on it I have pretty good access underneath and I'm 6 feet tall. But I have to stoop a bit and that's hard on my back so I lower it down a bit and have a stool to sit on and work underneath. At full height with the high feet on the hoist it clears my ceiling by one foot. This one is about 5 feet from floor to the top of the rails - there are two sets of "feet", the ones shown are the long ones and add about 8" of lift.
This is one of the best investments I've ever made BUT it is not the be-all end-all. Every lift system has its pros and cons. My plan this summer is to replace it with a 4-post.
As for Dadsbee's comment, so far I have managed to install everything except the exhaust system - only because I'm not there yet. Even the engine install was done on this lift with some maneuvering. Yes, the underside would be WAY more accessible on a two post but this is what I have and I've managed well with it.
If this is what you can afford and all you have space for, do not let anyone deter you.
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