Crane Financing and Leasing Options?

[Robert M.]

Hi,
I'm looking into adding a crane to our fleet and comparing financing versus leasing options. For those who have gone through the process, what factors helped you decide between the two? Have you found leasing to be more cost-effective and flexible, or did financing make more sense in the long run?

 

[Ellen Deuch]

If it's going to stay busy year-round and become a core part of your fleet, financing usually makes more sense because you're building equity in the machine. If you like upgrading equipment more often or want lower upfront costs and flexibility, leasing can be a good option. One thing I'd recommend is looking at Ritchie Bros. Financial Services (RBFS). They offer both financing and leasing, and what I liked is that you can use their approvals on auction purchases, dealer equipment, or even private sales.

 

[JimNorman]

Depends on utilization.