Should You Rent or Buy a Crane for Your Business?

Using a crane might be a necessity for your business. What you might not be sure of, though, is whether you want to buy or rent one. What is the best decision for one company is not the case for all companies. Before you make your decision, you should ask yourself these questions. With some thought and consideration, you'll be able to decide if buying or renting a crane is going to be the best idea for you.

How Often Do You Need to Use a Crane?

The first thing that you should consider is how often you are going to need to use a crane. If the type of business that you run basically requires you to use a crane on a daily basis, for example, renting a crane probably isn't going to be a good long-term choice. Of course, if you only need to use a crane occasionally — such as a couple of times a month — then you may not want to pay for the ownership costs that go along with using a crane that you don't even use often. In that type of scenario, it often makes more sense to just rent a crane when one is needed. If you find that your business begins to need to use a crane more and more frequently, then you may want to purchase a crane later on. For now, though, a rental should work out well when needed.

How Much Can Your Company Afford to Invest Right Now?

If your company has a robust equipment budget, then purchasing a crane could be a good decision. If this simply is not financially feasible for your business right now, you always have the option to rent a crane until you're able to afford to purchase one.

Do You Often Work in Different Areas?

If you typically always work on the same job site, then buying and setting up a crane on your job site may be most convenient. If you are going to need to use a different crane on different job sites, on the other hand, renting cranes might make the most sense. After all, each time that you rent a crane, the crane rental service should deliver it to the place where you will be working, and they should help with setting it up. You can even use different crane rental companies in different cities and states, depending on where you're going to be working.