Should you rent or purchase your next crane?
Business was good in the construction sector in 2017. That has created steady work and a bright outlook for crane owners, as well as manufacturers, distributors, and rental houses who provide iron.
But crane owners and users have long memories. When it comes to investing in new equipment, scars inflicted by the most-recent recession have some operations still favoring equipment rental over purchasing.
The crane industry offers short-term and long-term rentals. Also, re-rentals between crane rental companies, dealers, and manufacturers, can help companies respond to business opportunities. “Many reasons for renting cranes haven’t changed over the years. More companies now may consider renting as a result of the last economic downturn, which was a difficult time for many companies,” says Harry Fry of Harry Fry & Associates, West Newbury, Mass., a financing and leasing source for the crane industry...