Crane Financing and Leasing Options?

Robert M.

Robert M.

Member
Messages
53
Hi,
I'm looking into adding a crane to our fleet and comparing financing versus leasing options. For those who have gone through the process, what factors helped you decide between the two? Have you found leasing to be more cost-effective and flexible, or did financing make more sense in the long run?
 
If it's going to stay busy year-round and become a core part of your fleet, financing usually makes more sense because you're building equity in the machine. If you like upgrading equipment more often or want lower upfront costs and flexibility, leasing can be a good option. One thing I'd recommend is looking at Ritchie Bros. Financial Services (RBFS). They offer both financing and leasing, and what I liked is that you can use their approvals on auction purchases, dealer equipment, or even private sales.
 
Financing made more sense for equipment we expected to own for many years, while leasing offered lower upfront costs and more flexibility when upgrading.
 
Sounds like you've already got some solid advice here. In my experience, the biggest factor is how many hours the crane will actually work each year, high utilization usually tips the scales toward financing. Leasing can be great if you're testing a market or want the flexibility to upgrade later, but for a crane that's constantly on jobsites, ownership often pays off in the long run.
 
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