If you are a contractor, you probably already know how important it is to have a reliable crane on hand at your job site. Cranes are an invaluable tool for construction or industrial jobs because they provide tons of lifting power, and can reach heights that many other machines are not capable of. Renting a crane is a great alternative to buying because it allows you to focus time and energy on your current and future projects, rather than worry about the long term return on investment with this machine. If you are debating the trade-offs between renting or leasing a crane, and buying one at full cost, we are here to outline all of the details.
Buying a crane is a serious investment that can cost you anywhere from $15,000 for simpler, smaller models, or up to $500,000 for larger, more powerful cranes. Unless you are going to be using your crane often and for a long period of time, it is probably more cost efficient to rent. There are many external costs that come with buying a crane, which most people would not think to factor in. Since these machines are extremely large and expensive, you need to think about where you would store your crane when not in use. Finding an adequate storage space can be difficult and costly, but it is certainly something that cannot be avoided if you want to preserve your crane’s shelf life and keep it protected from unnecessary wear and tear.
Another cost variable to factor in when buying a crane is the maintenance and repair fees that will inevitably stack up. For heavy duty machinery such as a crane, you have to adhere to a maintenance schedule to keep everything running smoothly. Keeping track of when your crane needs maintenance, as well as paying the bill, is not something many contractors want to think about. In the unfortunate event that your crane needs new parts or repairs, not only will you have to pay thousands of dollars in repair fees, but your job site will likely put everything on hold until your crane is back in business. Renting from a crane company instead will allow you to continue working while swapping out the faulty crane for one that is in good condition. On top of that, most crane rental agencies will cover the cost of replacement parts and repairs.
One last expense to keep in mind is the cost to operate a crane. If you buy a crane, you will need to incur the cost of training your team members to properly operate the machine. Hiring a licensed crane operator can save some money, but you will still need to fund additional trainings and certificates for this employee in the future. Choosing to rent a crane from a company means they will provide you with a qualified crane operator that likely has years of hands on experience.
Just like cars, cranes come in a range of shapes and sizes depending on the conditions they need to work in, and what functions they need to carry out. When you buy a crane, it may be a perfect fit for your current job, but it might not be appropriate for future projects. When you choose to rent from a crane company, you will have plenty of options to choose from. For example, at B&M Tower, we can offer all-terrain cranes, telehandlers, and boom trucks, all in various models. With this kind of variety, you are sure to hire only the best crane for the job. Whether your project requires more load capacity, lift height, or a crane that can drive on rocky, uneven terrain, we guarantee we have a crane that will work for you.
Renting a crane also means you can test out different brands and models to see which one works best for your needs. You have the ability to hire newer cranes which may feature more tech or safety specs compared to the older crane models. All of this variety and power to choose can be extremely helpful when you are not yet well-versed in the world of cranes. As you try out different cranes, you will learn what features you like or dislike, instead of buying a crane and realizing later on that it is actually not perfect for your needs.
One last perk to keep in mind when renting from a company like B&M Tower is that you will receive top-notch service from knowledgeable professionals. Forget scouring the internet for advice or flipping through instruction manuals for hours, at B&M we provide 24 emergency services so no matter what time it is, you can get the help you need. Feel free to browse our website for more information on the cranes we have available for hire, or call to speak with one of our team members today.