If your organization requires the use of cranes for varying purposes, one of the chief initial questions you may be asking is whether such needs should be filled via crane rental or crane purchase. There are robust options available for both throughout Utah, but which is right for your budget, the job type and the other factors that define your needs?
At Bronson Crane, we offer both crane sales and crane rentals to a variety of clients – and we’re also happy to assist those who aren’t sure which of these avenues they should be looking into. Here are some pros and cons of each route, plus the key variables to look at as you’re making this basic choice.
Pros and Cons of Crane Rentals
For many jobs, crane rentals will be the ideal route to take for your needs. They offer a few major advantages over crane purchases, including:
- Less commitment: For shorter projects or those with uncertain timelines, crane rentals will be a better cost-efficient route. This allows you to access the cranes you need without committing to a long-term purchase.
- Lower initial costs: Crane rentals generally require less of an initial investment than purchasing. The monthly or hourly fees are typically lower as well.
- Less maintenance and storage: When renting a crane, you don’t have the same responsibility for maintenance and storage as when you own it.
- Ability to try out before purchasing: For some clients, having the opportunity to try out a crane model before investing in it can be beneficial. Working with a rental provider gives you that option.
- Flexibility to switch to a new crane: If for some reason a certain crane model you’ve rented doesn’t meet your needs, it’s easy to switch it out for something else.
However, there are some potential drawbacks associated with crane rentals as well:
Limited availability: Depending on demand, cranes may not always be available for rental when you need them. By contrast, owning a crane means you can access it whenever you need.
Long-term costs: While the initial cost of renting may be lower, for some clients it will become more expensive over time than investing in their own crane would be.
Pros and Cons of Crane Purchases
If your organization needs to use cranes on a regular basis, crane purchases are generally the better option. The advantages of purchasing a crane include:
- Ownership: Having your own crane means you don’t have to worry about availability, and you can access it whenever you need. If you know you’ll be regularly needing a crane, investing in your own is the way to go.
- Savings over time: For clients that use cranes consistently, the cost of ownership will be lower than continuously renting. After you’ve purchased a crane, you’re free from monthly or hourly fees as long as it continues running properly.
- Maintenance and repairs: When you own a crane, you’re responsible for its upkeep and any repairs it may need. However, this can be beneficial if properly managed – as regular maintenance is vital to keep the crane running safely and efficiently.
On the other hand, there are some potential drawbacks to consider when buying a crane:
- Higher initial costs: The upfront cost of purchasing a crane is usually higher than renting one. While some entities are able to recoup these costs over long periods of time, others will only need a crane for a shorter duration and the rental fee will be less overall.
- Storage: When you own a crane, you’ll need to have space to store it safely when not in use – which might come at an additional cost.
- Maintenance and repairs: While some view this as an advantage, it can also be a disadvantage. If you’re not prepared to regularly maintain and repair the crane, owning one may not be the best fit for your organization.
Now that we’ve gone over some benefits and drawbacks of each crane type, let’s look at some specific variables that will often help you decide between renting and buying.
Extent of Your Crane Needs
The first and typically largest variable when deciding between renting and buying a crane is the extent of your needs. Will you be using it for one job or many? Is the timeline for usage uncertain or known? Answering these questions will help you determine whether investing in ownership or committing to rental fees is more beneficial.
For instance, if your organization knows it will be needing a crane for short-term jobs on an irregular basis, renting is likely the best option. On the other hand, if you’re certain you’ll need to access a crane for long-term and/or frequent jobs, buying may be the way to go.
Safety Considerations
Another major factor to consider when deciding between crane rental and purchase is safety. It’s imperative that you always prioritize safety when working with any type of equipment, regardless of whether it’s purchased or rented.
When renting a crane, ensure that the provider is reputable and can demonstrate their commitment to safety. On the other hand, if you choose to purchase a crane, make sure you understand the necessary safety protocols and are able to properly maintain it. Both of these steps can minimize risks and ensure that your team stays safe while working with cranes.
Liability Concerns
Some businesses also need to take liability concerns into consideration when deciding between crane rental and purchase. If you’re responsible for operating a rented crane, the provider may be liable for any injuries or damages that occur during its use – although you still should perform due diligence in checking their safety protocols prior to renting.
When it comes to cranes purchased by your organization, however, you may be held more responsible for any accidents or damages that occur during operation. Consider your organization’s liability exposure when making the decision between rental and purchase.
Ultimately, deciding between crane rental and purchase depends on a variety of factors – including your usage timeline, safety protocols, and liability considerations. If you’re unsure which is the best option for your organization’s needs, simply contact our team at Bronson Crane, where we’ll be happy to discuss both options with you and help you find the ideal answer.
