How to Lease Construction Equipment
Using old construction equipment on your project can not only slow down your efficiency, it can also be downright dangerous. Construction vehicles live a gruelling life and making sure that your workers are using up-to-date machinery is important in maintaining health and safety, as well as keeping a competitive edge. Plant can be very expensive to buy so how can you keep up with the needs of your business? Have you considered leasing construction equipment as an option?
You want the ideal equipment, but what’s the best way to get it?
Option 1 – Buying your plant machinery
Investing in your heavy machinery might seem like a good plan. It can require substantial capital, or taking out a large line of credit, but it provides you with an asset on the books that can make your company look better on paper.
The problems are that once you have spent such substantial capital investing in construction vehicles and associated equipment, you become tied to it – and you commit valuable capital that is now unavailable for other areas of your business.
If you are using your machine every day and on multiple projects, this can be fine – the cost is spread across numerous contracts and the investment can be worthwhile, but selling on construction equipment when you’ve finished with it and getting a good price requires understanding an international market. In fact, moving on your machinery with any level of efficiency is difficult enough that it’s almost a second job in itself.
For many businesses, owning high-end plant machinery is simply out of budget, out of viability and out of contention. Leasing a crane ends up being a superior alternative to owning one.
Option 2 – Leasing construction equipment
Leasing or other forms of asset finance can provide a cost-effective and affordable way to have long-term access to construction equipment without the huge capital investment associated with outright ownership.
When you finance or lease construction equipment, you typically need only find a relatively small initial deposit payment and agree to a regular payment schedule that is within your budget (and often easily tied to any potential building contracts).
Your team gets access to new equipment enabling them to work at peak efficiency. How often have you had to ‘work around’ an ageing piece of equipment’s temperamental nature?
Leasing construction equipment can have accounting and tax advantages too, depending on the type of lease you choose.
As experts in asset finance, Maxxia is able to help source funding for heavy machinery and construction equipment across the UK.
The steps to the perfect construction equipment deal
At Maxxia we understand asset finance. Once you have selected the shopping list of equipment you need for your business, give us a call. We’ll help you every step of the way with the financial options, providing you with advice and finding you the right deal for you.
For further information about equipment leasing, or to talk about your asset financing requirements, contact us here or call 020 7520 9450.