http://www.iqboatlifts.com/boat-lift-maintenance/
Lift Cables – Make sure to inspect your lift cables regularly for any signs of wear and to see if they are winding properly. Rust spots, broken strands, fraying, kinks and abnormalities are all signs that you may need to replace your cables. If you notice any signs of wear, contact a professional marine contractor ASAP and have an expert inspect them to see if you need a cable replacement.
Every time you use the lift, it is important to make sure you wash the cables with fresh water after you have finished using the lift. Saltwater will corrode the cables and dramatically reduce their lifespan if they are not rinsed off properly.
You may choose to lubricate your lift cables with a penetrating oil like
Lubriplate’s Chain and Cable Fluid Penetrating Oil (Part No. L0135-063). Individual strands inside the cable move and rub against one another during normal operation which causes abrasive wear on the inside and outside of the cable. Penetrating chain and cable lubricants provide corrosion protection and lubrication to the core inside strands, the exterior surfaces and also wash off the external surfaces to remove contaminants and dirt. Proper lubrication can greatly increase cable life.
Manufacturers of stainless steel cables recommend cable replacement after two years of normal use, even without signs of wear. Failure to properly maintain your lift cables may cause a catastrophic failure resulting in damage to your lift and dock, damage to your boat and / or severe injury. Please do not take chances over-extending the life of your cables.