ABSTRACT
When commercial manufacturing of heavy construction equipment began, the primary way
to acquire a new piece of equipment was outright purchase. Players in the construction
industry typically were wealthy and filled all of the primary roles — owner, designer, and
contractor. Without credit and financing, heavy equipment purchase probably would be
limited today, much like it was in the late 1800s. The proliferation of diverse equipment
manufacturers around the world has spawned great competition, not just for the purchase
price of the equipment, but financing, terms of use, and method of payment.