It all depends on the type of business you are in. If you're a supplier of scaffolding, you'll want to buy scaffolding outright (otherwise, there isn't much point in your business).
However, there isn't much point in owning scaffolding for a construction company. It's extortionate to buy scaffolding outright and trying to determine how much you'll need before a job that even requires scaffolding appears near impossible.
A more cost-effective way would be to lease the scaffolding equipment as and when you need it. By financing, you're avoiding massive outlays for scaffolding equipment that may be too much or too little for what you need.
When you finance, you can be more precise about the equipment you need because you know the type of project and, therefore, know how much scaffolding is required.
This, as opposed to sticking a finger in the wind, buying some scaffolding equipment, and hoping it'll be enough when the time comes round, make a lot more sense. You also save yourself some physical space, allowing you to utilise your premises better.
Opting to lease scaffolding equipment allows you to control how much you pay back per month. A new business that may struggle to afford scaffolding equipment?
No worries, simply opt for a longer lease term with a lower monthly payment to keep your cash flow healthy.
Or, are you an older, more established firm? Then opt for leasing and keep the money you have worked so hard for in your business instead of wasting it on an asset that may only be used a few times a year.
After your agreement is up and, due to changing circumstances, if you find that scaffolding should remain a more permanent part of your business's assets, you'll have the option with Love Finance to purchase the equipment outright.
If you're looking to finance your next batch of scaffolding or still need a little more persuading, give us a call; we'll be happy to answer any questions you have and give you a free quote on your next project.
