- The rental business rose 18.6% in 2011, the Associated Equipment Manufacturers reports, and another 6.9% increase is expected this year.
- Companies argue that higher costs for renting are offset by avoided costs of maintenance and of having projects idled if a critical machine needs repairs.
- For some, increased competition for work at lower margins make it easy to decide to rent rather than buy, store and maintain equipment.
From the article:
The appeal of renting equipment and renting for longer terms is increasing among contractors because of "the uncertainty created by the economic downturn of the last few years and an unwillingness to commit to purchases, given the work situation," says Sidney Sexson, senior vice president at Wells Fargo Equipment Finance, Tempe, Ariz. ...