6 Things to Consider Before Leasing Construction Equipment

Wherever you look, there always seems to be construction going on; street maintenance, adding lanes to the highway, and new building construction downtown, to name a few. Construction will always be at the center of growth and progress. Construction business in not a satellite but an axis. It is not just the backbone of all other industries, but the backbone of all of our societies and communities!

And even if recently, the Construction sector has experienced certain difficulties, it has managed to exit the crisis victorious and it is standing strong once again. Modernization, Financial flexibility, and Adoption of the best that technology has to offer have surely helped!

Leasing Construction Equipment

One of the greatest challenges that all Construction businesses face is the elevated cost of heavy machinery. Often times, a direct purchase (even of used or refurbished machines) is cost-prohibitive or impossible. The upfront costs and all collateral finance demands can be an unbearable burden for a company’s budget.

Be it Wheel Loaders, Scissor Lifts, Skid Steers, Man Lifts, Articulated Dump Trucks, Excavators, Dozers, or other type of heavy equipment – they all come with a very heavy price tag.

Fortunately, sustainable and accessible solutions to businesses of all sizes, do exist. Leasing is one of them and may be the best choice when acquiring top quality equipment.

 

6 Things to Do Before Leasing Construction Equipment

 

• .      Assessment & Analysis

Every right decision is the outcome of thorough analysis. So, before signing on the dotted line of your lease agreement, you should have analyzed and assessed your company’s overall situation. It is not just the kind of machinery you need, but the duration that this machine is going to be used, the season, the terrain, its size, the attachments you might need and other general characteristics.

The parameters that will influence your decision are many. Never assume that because a certain machine worked for a colleague or a competitor will work for you too. Your business is unique and has unique demands. And even though there many options that will do the job for you, only one is optimal.

Analyze your requirements prudently and only then finalize your choice!

•         Research & Decision-making

What is true about machinery is equally true about the lease provider that you are going to work with. The right leasing partner will be your collaborator, too. Prudence and attention must also be invested when searching all available construction equipment financing possibilities!

As Leasing has become a standard choice for acquiring necessary equipment, the options out there may seem endless and the offers tempting. But, be patient, and be picky. Let your business’ needs be the guide and ultimate decider. Two things should be the basis of your final choice: Trustworthiness and knowledge through longstanding experience!

The market is filled with numerous lease options and leasing companies, but very few stand out and only one will be the best for your business!

• .      No (unpleasant) Surprises

Every machine comes with a specific set of operating requirements. Make sure that you respect and follow them. The machine you are going to acquire will be helpful only if it is functional. Downtime caused by mechanical issues is something that can be prevented if some basic, but important guidelines are respected.

Simple tasks like checking fluids and everyday inspections will prove time-budget-and-life saving!

• .      Maintenance and Other Costs

Unfortunately, the cost of Heavy Construction equipment is not only the sum written on the price tag. Maintenance, service and repair costs need to be considered. Delivery and setup costs might also need to be dealt with. Ensure that all these additional costs will be included in your lease agreement. This way, you will know what exactly you will have to pay and you will be able to avoid undesirable expenses at moments you will least expect them.

You have surely experienced it, unwelcome things happen at the worst moments! At least, on the financial front, you will have nothing to worry about as your monthly lease installment will cover everything!

•        State-of-the-Art Equipment

Technology is advancing in galloping rhythms. Many times it is very difficult to follow all the latest developments and innovations. But, your business must be flexible and ready to adjust to every new condition in order to deal with challenges of any kind.

Being able to acquire state-of-the-art technology is always a plus and the right lessor will keep you informed on the latest technological advancements that will make your business more competitive.

• .      Compliance

Businesses of every sector must comply with guidelines, laws, regulations and policies set by governments or other authorities. Failure to do so will be very harmful and costly. The impact could be financial but your reputation might also take a hit; and how do you remedy this?

A perfectly-designed lease plan will keep you fully covered regarding all compliance issues. From training issues (something very important for Construction equipment) to exact service dates and any other detail that might escape you.

A trustworthy leasing partner will proactively notify you. No important dates will be missed and you will be able to focus 100% on your work and your business’ well-being!

 

Heavy Equipment Financing through Leasing: The benefits!

Flexibility, Relevance, Competitiveness, Scalability, Financial Agility, high ROI! The benefits of leasing Construction Equipment are numerous and diverse.

The right strategic plan, structured and designed just for you, will guarantee all the above! Choose wisely and leasing and finance experts will always be there to listen and support you. Flexible Payment Schedules, negotiable terms and customized solutions to match your financial requirements will no longer be desires but the basis of an honest and fruitful deal. Reduced Costs, tax-related advantages, deep knowledge, and immediate access to top quality machinery will surely re-shape your business’ present and future.

 

The construction industry and everything it entails is too elemental to take lightly. Heavy equipment is essential to the industry. Its high cost and all its particularities though, make leasing an optimal choice not just for the small or medium businesses, but for large corporations as well.