Articles
6 Things to Consider Before Leasing Construction Equipment
by Jeff Hough Program ManagerWherever 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.
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About Jeff Hough 
Program Manager
3 connections, 0 recommendations, 38 honor points.Joined APSense since, February 28th, 2019, From Deerfield, United States.
Created on Jan 27th 2023 04:57. Viewed 151 times.
