Crane Finance

Finance your crane

Cranes provide great access to construction sites, move building materials and lifting construction equipment.

Choosing the correct method of financing for a crane depends on your business operations, as well as factors.

We can arrange funding for many types of cranes. Whether it is for commercial or business purposes, our team are here to help.

What is crane finance?

Crane financing is a way of obtaining an asset that is needed for your operations, whilst also considering your business’ cash flow status and working capital, meaning the crane can be acquired to suit your business’ specific situation.

MAF Finance Group can provide multiple methods of financing to support the acquisition of a crane. Whether that is through hire purchase, asset refinancing or a finance lease, we can provide solutions to meet your business requirements.

Our construction division are ready to assist you with any construction related requests you may have.

Types of crane finance available

Hire purchase: This method of asset finance spreads the cost of an asset over a set period, with fixed repayments in place. VAT is usually paid upfront; however, this can be deferred over a 3-month VAT deferral. At the end of the term, you will own the asset.

Finance lease: If you are not looking to own the crane, leasing the asset may be an ideal solution. Leasing works by renting the asset over an agreed period, making monthly repayments on it, whilst never taking ownership.

How does crane finance work?

With crane finance, you pay a deposit, and then pay a series of monthly payments in line with the set time frame. Whilst paying for the asset you are not the owner; however, you can use the asset in this period for business use. By financing a crane, you can set the deposit amount as well as how many months the asset will be paid over.

Is crane finance right for your business?

Buying a crane outright would require a significant amount of business capital, which may cause issues such as cash flow strain. Through financing a crane with method including hire purchase, asset refinancing and finance leasing provides an alternative that allows you to use a crane for your business, while keeping in line with business funds.

Through offering a fixed schedule and repayment terms set by you, financing a crane can be easily budgeted. The flexibility involved in financing means your business can acquire a crane on your terms.

Applying for crane finance

MAF Finance Group work with a variety of banks and funders to provide our clients with tailored financial solutions.

If you would like to get a quote or need further information, simply fill out our form and we will be in touch. If you would like to speak directly, you can call on 0115 958 6872 and a member of our team will be happy to speak to you. Alternatively, email us at [email protected].