Equipment World Digital Magazine
Issue link: http://read.dmtmag.com/i/699963
EquipmentWorld.com | July 2016 39 more leasing than before. Overall, total volume is up 5 to 10 percent compared to last year." But are contractors in a buying mood? "As a whole, they're standoffi sh" when it comes to outright purchases, Harris says. "They'll replace an aged machine here and there to keep downtime to a mini- mum, or they'll buy one because they need it." Whatever method contractors use to acquire the use of equipment, it seems right now they are seeing at least a short-term need. Several contractors that we contacted said they had either bought, converted an RPO, or increased their rentals in the past few months. "As a whole, customers are evaluat- ing the buy versus lease decision more closely when acquiring equipment," Rankin says. "Many want to have a good balance of both owned and leased equipment, based on the unique ben- efi ts of each, as well as the duration and size of their jobs." Hit the road with: collect them all! Flexible payment plans Downtime reimbursement Online certificates Flexible payment plans Downtime reimbursement Online certificates Hit the road with: collect them all! Protecting the rig that runs your business! Protecting the rig that runs your business! Protecting the rig that runs your business! Protecting the rig that runs your business! Progressive Casualty Ins. Co. & affi liates. All coverage subject to policy terms. 1-800-PROGRESSIVE 1-800-PROGRESSIVE PROGRESSIVE.com My company would not consider buying construction equipment this year 10% Increase slightly (less than 5%) Increase moderately (5% to less than 15%) How much would construction equipment rental costs need to increase for you to consider buying instead of renting equipment? Source: 2016 Wells Fargo Construction Industry Forecast (Survey dates: Oct. 19 – Nov. 6, 2015) 52% 25% 13% 10% Increase signifi cantly (15% or more)