A truck crane typically costs between $100,000 and $500,000, depending on factors like brand, size, and features. A new 50-ton model can be priced around $150,000, while a used crane may cost significantly less, around $60,000 to $120,000. Additional expenses like shipping, certifications, and insurance should also be considered in the overall cost.

New vs. Used Pricing

When weighing your options between buying a new or used truck crane, the numbers say it all. The cost can vary extremely depending on many factors such as the age of the crane, model, and features. The price of new truck cranes is generally much higher, but it comes with its perks. For example, new cranes usually range from $150,000 to $500,000, depending on the specifications and brand. While a high-range crane such as the Terex AC 100-4L could be upwards of $700,000, a relatively low-end version such as the Mack Granite can start at around $150,000. The capabilities of a brand-new crane, including lifting capacity, are also much stronger. For example, a new 50-ton model will have a lifting capacity of 100,000 pounds, which keeps the machine running smoothly with less wear and tear.

On the other hand, the price of used truck cranes can really vary. If you're open to considering pre-owned, you might get as low as $50,000 or up to $150,000 with any upgrades included, but it's based on condition and age. There are significant trade-offs when buying used machinery. That doesn't mean a crane that's 5–10 years old won't function well, but you may be buying a machine that has really been through the wringer. A 10-year-old Link-Belt HTC-8675 with a lift capacity of 75 tons might sell for between $90,000 and $120,000, but you'll need to be more careful about things like the hydraulic system, which could be due for replacement after 2,500–5,000 hours of operation.

Operating expenses are related, a new crane will very likely be far more fuel efficient and less maintenance prone in its early years on the road; a new 30-ton crane may burn upwards of 20-30 percent less fuel since it would take advantage of increased engine technology improvements and would lack wear and tear that gradually happens over time. On the other hand, used cranes may have higher fuel consumption rates by as much as 40%, depending on the age and condition, compared to their newer models. A company I know in the construction sector saved roughly $10,000 per year by upgrading to a new crane, largely due to fuel savings alone.

It's not just about the purchase price either-maintenance costs are another area to consider. A new crane usually comes with a 5-year warranty, covering most of the major parts and servicing; used cranes generally don't have these warranties, so you will need to pay the full cost for repairs. For instance, one of my friends who purchased a secondhand Manitowoc 4100W spent nearly $12,000 in maintenance alone during the first 2 years, and this is considering the fact that the crane already had only 2,000 operating hours. In contrast, a new crane would have cost him approximately $2,000 in maintenance for the same period.

A new crane can lose as much as 30-40% in resale value within the first couple of years. A good-condition crane could still retain 20-30% after ten years, but again, this would be based on demand in the market and its actual condition. Used cranes, however, have taken their major hits of depreciation and the resale value of the used crane will stabilize once it reaches a certain age. If you are buying secondhand, resale is much more unpredictable. Consider a used crane that might have been $200,000 new; this crane may now be worth only $50,000 in 10 years if not properly serviced, whereas in a strong market it could fetch $90,000, especially if it still has many years of life left.

Hidden Fee Alerts

Hidden fees when it comes to the buying and owning of heavy machinery can be quite a rude shock. Buried in fine print, these could increase the overall price of the equipment by a mile if not looked out for. Take truck cranes, for instance. While the purchase price may be fairly reasonable, it is often the tip of an iceberg. For instance, a company I work with just bought a used 50-ton crane for $120,000. As it would turn out, they are also responsible for another $15,000 in "inspection and certification fees." A number of less-than-scrupulous companies don't always include this fee in the initial quote, so be careful, especially when purchasing used equipment. Especially, most cranes over 10 years old often need to be re-certified to meet the safety standards at present, a process that could be quite expensive, and including engine emissions tests that will vary with the crane model from a low of $2,000 to a high of $5,000. Shipping and delivery: Very many buyers often ignore this cost component when purchasing the crane. These costs are often not included in the quoted prices of the machines. While a local delivery may be around $3,000, if you have to ship the crane across the country, you are looking at at least $10,000 for shipping alone. This is true, in particular, when you are buying a larger or heavier crane. As such, shipping costs could approach upwards of $12,000 or more for a 90-ton Terex crane weighing roughly 100,000 pounds, depending on its destination. Sometimes these fees are a complete afterthought when tallying the total cost.

Interest fees can also mount if you have plans to finance such a crane purchase, rather than buying it all upfront. For example, a $200,000 crane that is financed for 5 years at an annual interest rate of 7% can amass $30,000 in interest charges over the term of the loan. That is an additional 15% to the original price. Some financing agreements also include hidden fees for early repayment or administrative charges, which can add anywhere from 1% to 3% of the total amount financed. Thus, before being finally agreed upon, any financing scheme should also include these added costs and better, if possible, terms of a deal.

Other hidden costs include maintenance costs. Whereas a new crane can be sold with a 2-5 year warranty, a used crane does not usually carry the same coverage. Suppose you bought a used 80-ton crane for $150,000. Within the first year, it may require a major hydraulic system repair, which can be over $10,000 to replace. These repairs always seem to happen at the most inconvenient times, and this translates into lost time because your equipment isn't generating any revenue. That will cost you an extra $20,000 in lost revenue, assuming the rate your company charges per day for crane services is such that two weeks would amount to that. Added to this is usually maintenance associated with ensuring the crane meets the regulatory standards laid out by local laws or the industry. Many jurisdictions require periodic inspections and certifications, which can be $1,000 to $3,000 per inspection depending on the size of the crane and the region. For example, a new 40-ton truck crane might require an inspection every 2 years, adding up to $5,000 over 10 years — and this doesn’t include repairs that might be necessary to pass inspection.

Financing Options

There are quite a few ways to finance a truck crane, and each of them has its advantages and disadvantages. One of the most common choices is leasing, which allows businesses to pay for the crane over time while keeping the option to upgrade to newer models after the lease term. The typical leasing requires a lower upfront cost, with usual monthly payments ranging from $2,500 to $15,000, depending on the crane's value and the lease duration. For example, a $500,000 new crane leased over a 5-year period might have monthly payments of about $8,000. However, while leasing can be relatively inexpensive in the short term, the overall cost during the life of the lease often proves more expensive than buying, especially after interest and administrative fees are included.

Bank loans are another popular method of financing, offering a business ownership of the crane at the end of the loan period. Interest rates for equipment loans can be as low as 4% and as high as 9% per year, depending on the lender, the credit rating of the borrower, and the value of the crane. Using a $250,000 crane as an example, if you borrow at a 5% interest rate over 5 years, your monthly payment will be approximately $4,700. This means that, by the time the loan's term is concluded, you'll have repaid a total sum of approximately $282,000, implying interest charges of some $32,000 over the life of a loan. Such loans are generally perfect for a business that envisages retaining an equipment type over a long duration and would, therefore, develop equity in a crane.

The other option for project financing, which is on the increase, is vendor financing, where the crane dealer or manufacturer provides finance directly to the buyer. In this case, it will somewhat ease the procurement process since the headache of passing through conventional banks is avoided. For example, a crane dealer might offer 0% interest financing for 12–24 months on a $100,000 truck crane. This is extremely attractive to the companies who must have the equipment now but wish to delay the financial burden. But again, the fine print is very significant to read since some vendors would offer 0% financing for limited terms; after the introductory period, rates can go all the way to 10% or higher.

Another option companies needing crane financing should consider would be SBA loans. Typically, these offer lower interest rates and longer repayments, generally 7 to 25 years. For a $300,000 crane, an SBA loan might offer an interest rate of around 6.5%, resulting in monthly payments of about $2,000 over a 10-year term. One of the main advantages of SBA loans is the longer repayment period, which helps to reduce monthly payments. These loans take a number of months to secure, though, and depend upon a business having a good credit history and financial statements, which might be a burden for some businesses.

For those businesses that cannot avail themselves of traditional loans or other forms of financing, the next best option is equipment financing through a specialized lender. In this case, the crane itself would serve as collateral for the loan. The catch is that these kinds of loans also usually have higher interest rates-between 10% and 20%-simply because the risk for lenders is higher. You could be financing a $200,000 crane at roughly $6,000 a month with higher interest rate, totaling $60,000 over the course of the loan. Sometimes, this kind of financing is easier and faster, but compared to loans offered by banks, equipment financing has some disadvantages regarding interest rates; it is costlier in the long term.