If you are starting a new construction business or just greatly expanding your existing company, you may want to look into the option of construction equipment leasing services. While there is always the tempting option of buying your own, you might want to first consider a lease. Here's why:
You Aren't Locked In To A Large Purchase Price
Unless you are doing a lease-to-own option, you will not typically be locked into a large purchase price. If you are leasing, like renting, you will only have to worry about the standard lease payments. Some companies may request a lease agreement, which might include the stipulation that you have to lease the equipment for at least six months or so. This protects the equipment rental company in that they are promised a certain number of payments. You also have the benefit of knowing that that equipment is always yours to use during that time and you are locked into a price you can afford, without having to worry about sudden price increases while you have your lease agreement. If you were to purchase all of your construction equipment, you would most likely have a loan with an interest rate that drastically increases the final cost of the equipment and you are locked into that agreement until all of it is paid off. With the lease agreement, you can walk away at any point after the lease is up.
You Get To Try Out Different Equipment
Even if your end goal is to ultimately purchase your equipment, you might not want to do so until you have had a chance to use various types of equipment on your jobs that you schedule. This is because you should have the opportunity to see first hand whether a particular type of construction equipment is actually what you will need a lot of the time, or if something else might be the better choice. Consider the leasing option a try-before-you-buy deal, where you to "test drive" all of the machinery you want to buy before you go to the bank to apply for the business loan to do so. Since the purchase of such equipment is very costly, you want to know that you are getting exactly what you need and want for your construction company.
If you are ready to go ahead and start the process to lease the important construction equipment that you need, you will want to search for the best company to do that with. This way, your entire experience will be a good one. For more information, contact a company like Lease Source today.Share