Renting or Buying cranes is a question that we commonly get asked. This question is probably more important when it comes to purchasing items like cranes, which are large and sometimes more expensive pieces of equipment.
Below we have offered our tips and advice on whether you should choose to buy or rent a crane.
When renting or buying cranes you need to evaluate the Cost effectiveness
Cranes are some of the more expensive pieces of lifting equipment, given their large size and ability to lift much larger loads than other lifting gear. Depending on how often you use your crane, you may feel that it is not cost effective to buy it outright.
We would recommend assessing how often you plan to use your crane; if it is to become a central part of your business operation, then it makes sense to have your own crane that you can quickly grow familiar with and that will be more economic to buy over a long lifespan. However, if you will only be using your crane for one-off lifting operations, then it would be more cost-effective to rent it.
You’ll want to make sure your crane is in a good condition for heavy tasks like construction
Do, of course, bear in mind that the one-time payment that you make to buy a crane will be cheaper in the long-term over the proportionally higher rental payments that you will make.
How often will you be using your crane?
As we touched on above, it is important to think about how often you will be using your crane. If you will be using it a lot, then it makes sense to have a crane that you are all familiar with and can all operate safely and efficiently.
When renting a crane, it may be that you get a slightly different model to the previous one that you used, and this can slow down your business operations. Think carefully about just how much use you will get out of your crane, as this will make up a large part of your decision.
Ensuring your crane is in a good condition
If you have bought your crane outright, then you will always be able to know the quality of your crane up until that point. You will be able to carry out inspections on your equipment as often as you like, and so you will know what stage your equipment is at.
When renting your crane, you can’t be as guaranteed of the safety of your crane. Of course, it is likely that the cranes will be in a top working condition if from a reputable dealer, but you can’t rely on the fact that the dealer will carry out as thorough checks as you might do. This generally isn’t a problem in the industry as crane dealers know the importance of selling safe cranes, but it is just something to consider.
It wouldn’t make sense to keep renting these large overhead cranes!
Second hand cranes
If you aren’t quite ready to buy a brand spanking new crane but don’t want to rent, then you can always consider purchasing a second hand crane. However, we would recommend referring to the point above when it comes to looking at a second hand crane.
Selling your crane afterwards
You may decide to buy your crane. If that’s the case, you can always sell it afterwards. While it may have depreciated in value slightly since purchasing, cranes never lose a dramatic amount and so you can be sure that you will get a good return on your piece of lifting equipment.
Added time to lifting operations
As we have briefly touched on above, renting a crane will add time onto your operations any time that you choose this route. You will need to put aside extra time for the organising of the rental and choosing the right crane, the receiving of the crane, the installation and familiarising, and then the packing up to return to the crane rental dealer.
It will be much quicker to simply dive straight into your pre-planned operation with a crane that you have already set up. But again, it simply depends how much use you will be getting out of your crane.
More tips from Cranes Direct
If you are looking for more tips from us on the safe operating and use of cranes, then you can contact us here.