If you are related to the construction industry then you will very well understand the dilemma of buying or renting a luffing tower crane for your business. Many people from the same arena will support buying and many will obviously oppose it. There are pros and cons in both the cases but hiring a tower crane is a better idea always for your business.
Buying A Luffing Tower Crane
The lifespan of these heavy vehicles is more than 25 years if you happen to buy a new one. But these heavy vehicles demand proper care and maintenance every now and then. It will only be a great investment for the company if you have a projectile of the luffing tower crane working for the next 25 years and bringing in profit. Then definitely the rate of return will be very high when compared to the initial cost and the cost of maintenance. Whereas, if you want a crane but cannot see a long-term future with it then you may as well plan and buy a used tower crane for your construction business.
Whenever buying a used crane always ensure that you get it from a reputed dealer. This way you can at least be sure of the fact that it has been well maintained. When your work is done, you can again resell it and gain some capital back. This may prove more economical to you than hiring a luffing tower crane. If you wish to buy a used model then search for a crane that is between 5-10 years old. This way you know that it can still perform the very best. The tower cranes that are around 10 years and below hold their value very well, then the other older models which have a proper price drop.
Hiring A Luffing Tower Crane
Renting a tower crane is a feasible option if you do not want to spend on regular maintenance and service of the heavy vehicles. If you have an overseas project which is a one-timer then it is best to hire the crane services and get over with it. If the luffing tower crane is only needed for a limited time on the construction site then renting it will be economical. These heavy-duty tower cranes are only rarely used at the construction sites and thus renting it solves all your hassle.
There are some important considerations when you are buying a new or used luffing tower crane. It will be your responsibility to replace all the parts of the vehicle when the warranty is no longer applicable. You will have to service it from time to time. There will always be additional payments to look out for during each construction, they will include climbing, dismantling, and erection of the tower crane.
Usually, when you rent a crane for your work, all the above mentioned extra charges are included in the rent. The parts of the heavy vehicle are usually covered by the insurance and the service contract with the company. Hence, you are stress-free during the job. Unless it was the construction error, you will not have to pay for any troubles caused to the parts. Renting a heavy-duty crane is mostly the best idea of all because it makes your company’s job stress-free.
In the end, it is your company’s decision to hire or buy the heavy duty cranes for the upcoming construction.
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