To help inform your decision, detailed below are some of the benefits associated with choosing to rent instead of buy crane equipment.
The reason the 'rent -v- buy' debate is ever-present is due to the fact that people want to determine the most cost-effective plan for their particular situation. For those anticipating needing to use a piece of equipment every day for the next 25 years, it’d be more long term cost effective to purchase that necessary machinery.
However, renting provides a more cost efficient solution for those who may only need equipment intermittently or for a short period of time. Instead of investing thousands (sometimes hundreds of thousands of dollars} to own a crane you use a couple times a year, you can rent for significantly less money only when you need it.
For example, purchasing a forklift with the capacity of 6,000 to 10,000 pounds costs, on average, $20,000 - $60,000. Contrastingly, renting that same piece of equipment costs on average $150-300 per day, $350-700 per week, and $1,000-2,000 per month.
Renting is a particularly attractive option for smaller companies who, not being able to afford to buy a crane outright, can use a rental service and remain competitive in the job market.
With 24/7 Lifting, Inc., rentals come with the option of operated and non-operated equipment, providing both options to best fit your needs for any given project. Non-operated indicates your company will operate the equipment itself, and if requested, we provide the necessary training. Additionally, our own expert operators are available for hire. This choice is ideal for those who don’t have the time to train one of their own. It also alleviates the stress and responsibilities involved with handling the equipment. Renting an operator ensures safety and efficiency.
Choosing to rent equipment instead of buy guarantees that your company will use the correct piece of equipment for every job. When buying a crane, you’re committing to using that specific equipment for the majority of your projects. However, in some cases a different style of crane may be more appropriate. Additionally, the option of renting opens up other job opportunities your company would not be able to consider only using the equipment in stock.
Saving on Service Costs
If you choose to rent, our company is responsible for regular service costs, annual inspections, and any unexpected maintenance. These additional savings allow your company to focus funds in other areas of business.
24/7 Lifting, Inc. prides itself on its wide range of crane rental equipment as well as the fact that we only stock the best leading brands. Renting guarantees a high-quality product. Buying new equipment guarantees long term expense and buying used has no guarantees.
Please feel free to contact us should you be looking for any advice. With over 20 years of experience in the crane industry, 24/7 Lifting, Inc. will be able to offer you expert advice on the best option for your company considering your future project needs.