Our crane finance solutions offer funding on mobile and tower cranes from 10t to 1,000t. We have significant experience funding Franna pick and carry cranes as well as all types of Liebherr, Grove and Demag mobile and crawler cranes.
Whether you’re buying a new or used crane it’s extremely important to match the lending structure to the maintenance cycle of the asset. If the structure you use isn’t correct there is a risk you could get to the end of the finance contract and have a large balloon at the same time the 10 year inspection is due which can be a very costly experience. Our specialists understand these risks and can help implement a lending structure to suit your situation.
Case Study: Recently a large client of ours was looking to purchase a 600t Terex CC2800 to complete a specific job. The crane was 7 years old and the job was scheduled to last only 18 months. Not wanting to own the crane after the job was complete or to hold the risk of having to complete the 10 year inspection the client came to us for a solution.
We were able to customise an operating lease solution which would give the client the ability to lease the crane over 24 months and at the end of the period, simply hand it back to the finance company if they didn’t want to keep it.
In the event more work was secured they had the option to re-lease the crane though they had the flexibility to simply hand it back. This gave them the confidence to acquire the crane to complete their own project with the use of contractors, which greatly increased their margin on the job. They were able to do that without the risk of owning the crane after the job and the risk of having to undertake the 10 year inspection.