Lease or Finance: What is the Right Option for Construction Equipment?

Any machine can be financed or leased in the construction industry, and the clear pros and cons that influence this important decision change with your changing company and economic conditions. From backhoes to bulldozers, construction firms need to have equipment that is reliable, up to date, and capable of performing on the job. Heavy machinery can be expensive to buy and can tie up significant levels of capital if purchased outright. Because of this, more and more companies now lease construction equipment as a means of getting the machinery they need at a price they can afford. Just about any piece of equipment or machinery can be financed or leased in the construction industry and deciding which is the right approach for your business will be an important decision you will have to make. Each has clear pros and cons, and whether you lease or finance your construction equipment will depend on an array of factors. In this post, we will review both leasing and financing so you can determine which financing method is the right one for you. READ FULL ARTICLE>>