If you need to use a crane regularly for work that your construction company carries out, you should consider leasing rather than buying crane equipment. The following are six problems your construction company can avoid through crane leasing.
Being short on the needed capital to buy a crane
Purchasing a crane for your construction operation requires a large amount of capital. Even if you have the purchase financed, you'll still need to put down a large down payment.
Leasing a crane rather than buying one can ensure that you get the equipment you need even if you don't have a lot of capital to put down upfront.
Having to use obsolete crane technology because you're stuck with the crane you purchased for the long term
If you buy a crane, the crane model you choose may become obsolete while you are still paying it off. Leasing a crane allows you to keep up with technology and use up-to-date crane equipment with modern features.
High repair and maintenance costs for an older crane model
When you lease crane equipment rather than buy, you're typically working with relatively new equipment. Newer crane equipment does not have to be repaired and maintained as frequently as older crane equipment. This allows you to cut down on the costs of servicing your crane.
Safety issues because you're using an older crane model
Older crane models may not offer as much in terms of safety features and technology. This can make worksite accidents more likely if you use an old crane model that you purchased some time ago rather than acquiring needed crane equipment through a short-term lease.
Being stuck with a crane that your company has bought when it is not an ideal model for your situation
You can choose from a variety of lease term options that make it so that you only have to work with a particular crane model for a given period of time. This can prevent the problem of having to continue to use the crane equipment that you purchased even after you discover that the model you chose is not ideal for your worksite applications.
Having to resell your crane down the road
Eventually, you will want to get rid of a crane model that you bought. It can be cumbersome and time-consuming to sell an old crane model. With a lease, you don't have to worry about reselling your company's used crane equipment.
For more information, contact a company like Floyd Steel Erectors, Inc.