Leasing construction equipment or taking out a loan to purchase both have their advantages. Which one is best for you depends on your goals as a contractor at any given time.
Before you acquire new equipment, ask yourself these questions to determine your business needs:
When you have a good idea of what your business needs are, compare the advantages of leases and loans to find out which one matches your needs best.
When it comes to deciding whether to lease equipment or take out a construction equipment loan, there is no right or wrong answer. There’s a good chance you’ll use a combination of the two to finance your fleet and optimize your cash flow. Learn more about our equipment financing options, or see your local dealer.