To Hire or to Buy? Exploring the Pros and Cons of Mobile Crane Hire and Purchase Options



Hiring a mobile crane provides flexibility, as you can rent the crane for a specific period and return it once the project is completed. This is particularly useful for projects with varying requirements or when the crane is not needed for the entire duration of the project. 

Renting a mobile crane can be a cost-effective solution, especially for small to medium-sized projects. It eliminates the need to invest a significant amount of capital upfront, and you only pay for the crane when you need it. 

When you hire a mobile crane, you don't have to worry about maintenance costs, repairs, or storage. The rental company takes care of all the maintenance and repair requirements, reducing your overall expenses. 

Cons 

The availability of mobile cranes for hire is not always guaranteed, especially during peak construction seasons. This means that you may have to compromise on the type or size of the crane you need, or you may have to wait for a crane to become available. 

When you hire a mobile crane, you do not own the equipment, and you cannot use it for any other purpose other than the agreed-upon rental period. This means that you cannot take advantage of any equity or resale value of the crane. 

When you hire a mobile crane, you have limited control over the customisation options. You may not be able to modify the crane to meet your specific needs or requirements, such as adding specific attachments or equipment. 

Purchasing a Mobile Crane 

Purchasing a mobile crane is a long-term investment for construction companies. Here are some pros and cons of purchasing a mobile crane: 

Pros 

Buying a mobile crane is a long-term investment that provides a reliable and consistent solution for your lifting requirements. It also provides you with the opportunity to use the crane for future projects, making it a worthwhile investment. 

Purchasing a mobile crane provides you with equity ownership of the equipment, allowing you to take advantage of the resale value of the crane. You can also use the crane for other purposes, such as renting it out to other companies, generating additional revenue. 

When you purchase a mobile crane, you have complete control over the customisation options. You can modify the crane to meet your specific needs and requirements, such as adding specialised equipment or attachments. 

Cons 

Purchasing a mobile crane requires a significant upfront investment, which can be a financial burden for some companies. The cost of the crane also depends on its size, lifting capacity, and additional features, making it a costly investment. 

Buying a mobile crane requires you to bear the maintenance and repair costs, which can be expensive over the crane's lifespan. You need to ensure that the crane is well-maintained to prevent breakdowns and prolong its lifespan. 

When you purchase a mobile crane, you need to bear the storage and transportation costs. This requires you to have sufficient space to store the crane when it is not in use, as well as a reliable transportation method to move it to different project sites. 

Factors to Consider  

The duration and frequency of your projects play a significant role in deciding whether to hire or purchase a mobile crane. If your projects are short-term or infrequent, it may be more cost-effective to hire a crane instead of purchasing one. However, if you have ongoing projects that require a crane regularly, purchasing a crane might be a more viable option. 

Budget is another critical factor to consider when deciding between hiring or purchasing a mobile crane. If you have a limited budget, hiring a crane might be more feasible since you won't have to bear the high upfront costs associated with purchasing a crane. However, if you have sufficient funds, buying a crane can be a long-term investment that provides equity ownership and resale value. 

The type and size of the crane you need also plays a significant role in deciding whether to hire or purchase one. If you require a specialized crane with specific equipment or attachments, it might be more practical to purchase a crane that can be customized to meet your requirements. However, if you need a standard crane, hiring might be more cost-effective. 

When deciding whether to hire or purchase a mobile crane, it is essential to consider your maintenance and repair capabilities. Purchasing a crane requires you to bear the maintenance and repair costs, which can be expensive over time. If you have the expertise and resources to maintain and repair a crane, purchasing one can be a viable option. However, if you lack the necessary expertise, hiring a crane might be more practical since the rental company takes care of maintenance and repairs. 

The Benefits of Hiring a Mobile Crane from Professionals