Backhoes are versatile and essential pieces of industrial equipment for anyone in the construction or landscaping business. But how much does a backhoe cost?
There are a few things to keep in mind when it comes to financing a backhoe. First, the cost of a backhoe will vary depending on the make and model. Second, financing options will vary depending on the dealer. And finally, it’s essential to consider the down payment and monthly payments when making your decision. With all of this in mind, let’s take a closer look at how much a backhoe costs and how to finance one.
What is a Backhoe?
Backhoes are a standard piece of equipment on construction sites and are used for a variety of tasks, from excavation to landscaping. They have a digging bucket attached at the end of the arm of the machine. Backhoes are commonly used to dig up trees for transport, move boulders, rocks, or gravel, and push topsoil into place. They are versatile and can be used for both small and large projects.
How Much Does a Backhoe Cost?
The cost of a backhoe will vary depending on the make and model. For example, a Caterpillar backhoe might cost between $30,000 and $40,000, a JCB backhoe might cost between $25,000 and $35,000, and a Kubota backhoe might cost between $20,000 and $30,000.
These prices are just for the backhoe itself and do not include attachments or accessories, such as a bucket or a blade. The cost of attachments and accessories will vary depending on the make and model of the backhoe and the dealer. Generally, these will add around $5,000 to $20,000 to the cost of the backhoe.
What Types of Businesses Would Need a Backhoe?
Small businesses that need a backhoe typically use them for one of three purposes: landscaping, construction, or excavating. Backhoes can be used for a variety of tasks in each of these industries, such as digging holes, trenches, or ditches, moving heavy objects, and clearing land.
Backhoe Financing Solutions
When it comes to financing a backhoe, there are a few things to keep in mind:
- The cost of a backhoe will vary depending on the make and model.
- Financing options will vary depending on the dealer.
- And finally, it’s important to consider the down payment and monthly payments when making your decision.
With all of this in mind, let’s look at brand new and used backhoe financing options.
Financing a Brand New Backhoe
If you’re financing a brand new backhoe, the dealer will likely offer a variety of financing options. For example, you might be able to finance the backhoe through the dealer with a low-interest rate, or you might be offered an introductory 0% annual percentage rate (APR) for the first 12 months.
It’s essential to compare the different financing options and to understand the terms and conditions before making a decision. For example, some solutions might have hidden fees or a prepayment penalty.
Financing a Used Backhoe
If you’re financing a piece of used equipment, your options will be different than if you’re financing a brand new one. For example, you might not be able to get 0% APR financing.
Instead, you might need to finance the equipment through an in-house program or a private lender. Private lending agencies typically have higher interest rates than dealerships, but they can be a practical option if you don’t qualify for traditional financing.
Buying a New vs. Used Backhoe
There are a few things to consider when deciding whether to buy a new or used backhoe. For example, a new backhoe will likely have a warranty, while a used backhoe might not. A new backhoe might also have lower interest rates if you’re financing it.
On the other hand, a used backhoe might be a more affordable option. It’s important to compare the cost of a new backhoe with the cost of a used unit, taking into account the financing options and any warranties that might be available.
The Benefits of Financing a Backhoe With Charter Capital
There are a few benefits of financing a backhoe with Charter Capital:
- We offer flexible financing solutions for both new and used backhoes.
- We have a simple and straightforward application process.
- We offer competitive rates and terms.
Charter Capital is a family-run business that’s been helping small businesses finance the equipment they need for the past 40 years. We have a strong network of lending partners whom we have carefully vetted and built relationships with through the years. You can be confident that you are in good hands.
Our team provides assistance in financing all types of equipment, including backhoes, forklifts, trucks, and all types of heavy equipment. We also help with the equipment financing needs of restaurants and cafes, laundromats, clinics and hospitals, IT companies, farms, offices, and more.
To learn more about how we can help you finance your backhoe, give us a call today.