A skid steer loader is an essential piece of equipment for many industries. The cost of a skid steer loader, however, can be prohibitive for some businesses. In this blog post, we’ll explore the cost of a skid steer loader and some financing options to make it more affordable.
What Does a Skid Steer Loader Do?
A skid steer loader is a type of construction equipment that is typically used for excavating or grading land. It is made of a large bucket that is attached to a frame by two hydraulic arms. The skid steer loader is operated using a set of foot controls in the enclosed cab.
Skid steer loaders can be used for a variety of tasks, including:
- Excavating land
- Leveling ground
- Loading and unloading materials from trucks
- Clearing debris and dirt
- Grading roads
- Removing snow
- Digging holes for landscaping
- Handling materials on construction sites
The compact design of the skid steer loader enhances its maneuverability, enabling it to turn in tight spaces and operate in areas that larger machinery cannot access. This makes it an indispensable tool in urban construction projects and small space operations. Additionally, skid steer loaders are known for their versatility and ability to switch attachments, which can include quick-attach forks, hammers, and augers, further extending their utility across various tasks.
How Much Does a Skid Steer Loader Cost?
The cost of a skid steer loader can vary depending on several factors, including the size and model of the loader. Skid steer loaders for sale typically range in price from $15,000 to $50,000, but there are some more high-tech models that can cost upwards of $100,000.
Key factors that determine the cost of a skid steer loader include:
- Size of the loader: Larger loaders generally cost more due to their increased capacity and power.
- Model of the loader: Different brands and models can have varying prices based on their reputation, reliability, and performance.
- Features of the loader: Additional features like advanced hydraulic systems, enclosed cabs with HVAC systems, and high-flow capabilities can increase the price.
- Condition of the loader: New loaders cost more, but they come with warranties and the latest technology. Used loaders are less expensive but require a thorough inspection to ensure they are in good working condition.
- Rated operating capacity: Loaders with a higher operating capacity, which indicates the maximum weight they can safely lift, typically cost more.
- Market demand and availability: Regional availability and current market demand can also affect prices.
When considering the purchase of a skid steer loader, it’s crucial to assess your specific needs and budget. If opting for a used loader, it is advisable to check for any signs of excessive wear or mechanical issues and confirm that all features function properly. Additionally, consider the cost of maintenance and potential repairs, especially for used models, as these can affect the overall affordability of the loader.
Pricing for Popular Skid Steer Loaders
To give you an idea of the expenses you’re facing when planning to buy a skid steer loader, here is a look at the cost of some popular performance models:
- ASV RT75: $40,000
- Bobcat S650: $30,000
- Caterpillar 242D: $32,000
- John Deere 317G: $25,000
- Kubota SSV75: $15,000
- New Holland Construction: $75,000
These prices are based on the base model of each loader and do not include any additional features or attachments.
Financing Options For a Skid Steer Loader
If you’re looking to finance a skid steer loader, there are a few options available to operators.
Bank Financing
One option is to take out a loan from a bank or other financial institution. This will allow you to spread the cost of the loader over a period of time, making it more affordable. Financing your equipment can also help you preserve your working capital, which can be used for other purposes.
Leasing
Another option is to lease a skid steer loader. This can be a good option if you only need the loader for a short period of time or if you don’t have the funds available to purchase a loader outright for your fleet. Leasing also has the advantage of allowing you to upgrade to a newer model when your lease is up.
Renting
You can also rent a skid steer loader from a rental company. This can be a good option if you only need the loader for a short-term project. However, it’s important to note that you will not own the machine at the end of the rental period.
Ultimately, the decision of whether to buy, lease, or rent a skid steer loader depends on your needs and budget. If you have the funds available, purchasing a loader outright may be the best option. However, if you’re tight on cash or only need the loader for a short period of time on a job site, leasing or renting may be a better option.
FAQs About Skid Steer Loaders
1. Are skid steers worth the money?
Yes, skid steer loaders are generally considered a worthwhile investment for both small and large construction projects. They offer versatility with their multiple attachment options, efficiency in various tasks such as loading, digging, and grading, and maneuverability in tight spaces. The return on investment can be quickly realized through the time and labor savings they provide, especially if the equipment is used frequently.
2. What are the benefits of owning a skid steer loader over renting one?
Owning a skid steer loader has several advantages over renting:
- Cost-effectiveness in the long run: If you frequently use a skid steer, owning one eliminates recurring rental fees and can be less expensive over time.
- Availability: Owning ensures that you have access to the equipment whenever you need it, without being subject to rental availability.
- Customization: You can choose specific attachments and features tailored to your regular needs.
- Condition control: You can maintain and service your own equipment, ensuring it stays in optimal working condition.
3. How long does a skid steer loader typically last?
The lifespan of a skid steer loader depends on several factors, including the brand, model, maintenance schedule, and intensity of use. Generally, a well-maintained skid steer loader can last between 4,000 to 5,000 operating hours. Some users report their machines running efficiently for over 10,000 hours with diligent care and occasional part replacements.
To maximize the lifespan of a skid steer loader:
- Regular maintenance: Follow the manufacturer’s recommended maintenance schedule. Regular checks and timely replacements of filters, fluids, and other consumables are crucial.
- Proper operation: Train operators on the correct use of the machine to avoid undue stress on mechanical components.
- Immediate repairs: Address mechanical issues and wear-and-tear as soon as they arise to prevent further damage and ensure optimal performance.
- Storage: Store the loader in a covered, dry area to protect it from the elements and reduce the risk of rust and corrosion.
By adhering to these practices, businesses can enhance the durability and reliability of their skid steer loaders, ensuring they remain a valuable asset for the long term.
Finance Your Equipment With Charter Capital
Deciding how to finance your skid steer loader is an important decision. There are a number of factors that you’ll need to consider, including the length of time you need the loader, your budget, and your purchasing power.
If you’re looking for financing solutions for your skid steer loader, contact Charter Capital today. We offer a variety of financing options that can help you get any type of equipment you need, whether for construction, farming, IT, medical, food business, retail outlet needs, and more.
We also offer competitive rates and terms to fit your budget. We have built strong relationships with the lenders in our network, so you can rest assured that you will be in good hands.
Talk to our experienced finance brokers today to learn more about our skid steer loader financing options and to see how we can help you get the equipment you need.