when to buy and when to rent heavy construction equipment

Taking Advantage of What a Crane Rental Can Offer to Your Company

Part of running a successful construction company involves having the right equipment on hand. However, equipment can cost money that your company's budget cannot afford right now. Even pre-owned machinery and tools can have price tags that are not reasonable for your cash flow.

Instead of forgoing certain equipment and not bidding on projects, you can lease the machinery and tools that you need. You can take advantage of what a crane rental can offer your construction company.  

1. Short Term Payments

When you secure a crane rental for a project, you only have to pay for it for as long as you need it. You don't need to have a crane on hand all the time; you may only need it for certain projects that your company undertakes a few times a year.

Instead of buying a piece of equipment that you may not use often, you can lease it for a short term basis. You only have to make lease payments on the crane for the duration of the time that you use it. You can send it back to the leasing company and avoid having to make any more payments on it once the company assumes possession of it again.

2. Less Money

A crane rental can likewise cost your company thousands of dollars less than buying one outright. In fact, the price tag for a brand new one can be tens or hundreds of thousands of dollars. In comparison, the price tag for renting one can be significantly less.

Instead of taking out an expensive loan or using all of your company's savings to buy one, you can use a smaller amount out of your cash flow to lease one. You can keep more money in your bank account, forgo having to take out a loan, and pay less overall for a crane rental than if you were to buy a new crane outright.

Finally, a crane rental can include any upkeep and repairs needed to keep it operational. You avoid having to pay for repairs or maintenance on the crane during the time that you lease it.

A crane rental can provide these and other benefits to your construction company. It allows you to secure equipment needed for projects without having to pay expensive purchase prices. You can also have costs associated with the crane's upkeep and repairs covered in the rental price you pay.