Backhoes are heavy-duty excavation machines and crucial equipment in the construction industry. Whether you’re purchasing or renting a backhoe, this piece will dive deep into the costs and any other financial concerns you may have.
The typical cost of a new backhoe is $90,000.
Small-sized backhoes start from $25,000, and the larger models go from $60,000.
A standard backhoe, like the 2014 John Deere 310SK, costs around $102,000.
Used Backhoes will cost about 30% less than the average price of a new one.
Buying a backhoe is more than looking at the price tags. There is a comprehensive process to look into the price of a backhoe and how certain factors affect it.
This article breaks down the most common concerns about the cost of a backhoe and the average price of buying and renting both new and used ones.
A standard backhoe’s horsepower can range from 20 to 100 horsepower (hp), which can dig up to 14 feet. The most common factor influencing its price is size, although the model and condition can significantly cause a shift.
Let’s look at the price of a backhoe per size.
These figures are based on the national average and may vary based on unit availability, brand type, and location. The most popular brands like JCB, John Deere, Bobcat, and Caterpillar average between $17,000 and $90,000.
Buying a used backhoe can be a huge money saver when you’re on a tight budget. It is an excellent decision if you find a backhoe in good condition with low operation hours.
The average price of a used backhoe can also vary widely and depends on similar factors to a new one.
When buying used backhoes, some brands try to hold their value, and you may find them a bit premium.
For instance, A 10-year-old John Deere with about 2,000 hours of use might go for $35,000. The same model with 1,000 hours of use would sell for $70,000.
If you buy used, 10-year-old loaders with a few thousand hours of work, expect to spend around $15,000 to $30,000. But be careful when buying backhoe loaders selling below $15,000.
When needing a backhoe for a quick project, renting becomes easier than purchasing a new one. The typical cost to rent a backhoe start from $260 per day to $1,000 per day.
It will also cost about $2,500 per week or $6000 per month, depending on the brand, size, and your project’s location.
Online rentals and local retailers will come in handy to help you figure out the exact prices in your area. We have provided a broad price range, beneficial financial planning, and come up with early costs.
Here’s a quick table of the average price to rent a backhoe.
| Backhoe | Av. Daily Rates | Av. Weekly Rates | Av. Monthly Rates |
|---|---|---|---|
| 60-89 hp Medium Backhoe | $220-$700 | $700-$1,400 | $2,400-$3,000 |
| 90-109 hp Large Backhoe | $350-$900 | $1,000-$2,500 | $2,500-$7,000 |
| 110+ Extra Large Backhoe | $500-$1,200 | $1,500-$3,000 | $3,000-$7,500 |
Some rental outlets give leeway to rent backhoes on an hourly basis. Typically, the hourly rates range from $40 to $150, depending on the equipment brand, size, and location.
Check to see if there are any minimum hourly requirements for certain projects.
A few attachments need to be purchased separately. Forks, drills, hammers, and other equipment will have an additional cost of a few thousand dollars. For instance, brand-new bucket forks go from $2,000 to $9,000.
You can as well buy used hydraulic hammers between $7,500 and $11,000. These additional costs also reflect when you rent a backhoe. Augers, for instance, can be about $70 per day.
Renting may not have any additional costs apart from attachments, but the companies will require an initial deposit. The amount is to cover any unexpected damage during use and will be the first amount to be deducted in case of damages.
Another cost to look at is taxes. It is an essential cost and you’ll need to know the current percentages of your state. Taxes should account for 17 to 20 percent of the equipment’s overall cost.
If you’re buying a backhoe from another location, you may require specialized trailers to safely transport you to your preferred location. An extra large trailer can cost you about $2,000 to $10,000.
If you’re transporting from overseas, check on the shipping costs and make sure it is included in the total.
Backhoe maintenance and repairs are your final consideration when looking at the costs of a backhoe. Like any equipment, a backhoe has movable parts and may break and need to be repaired or replaced.
If your machine breaks down, you’ll need to be able to access spare parts or take them to a garage shop. Maintaining the backhoe is a proactive move to protect it from future breakdowns or make them less common.
Backhoes are generally costly and it would be smart to consider an insurance cover. We may not recommend one insurance company as the online realm has plenty available, particularly specializing in heavy equipment.
Remember to check the rates and the price bracket of these insurance policies to keep your costs at bay.
If you have temporary, one-time jobs, it would be advisable to rent out a backhoe rather than buy one.
Even if you have several one-time jobs in a year, renting out is seemingly cheaper. The option of purchasing a backhoe is viable when you’re involved in the construction business or any other form of excavation work.
Backhoes are outright expensive, and depending on the location, brand, model, additional costs, and size, you may spend well over $100,000 for a new one. Some smaller models are a bit cheaper, ranging from $18,000 to $50,000.
We advise buying a backhoe when you have plenty of cash available and don’t need to go the financing way (interest rates are significant!).
In most occurrences, renting is cheaper unless you’re using the equipment more than 70% of the time.
For companies that have an average workflow, a lease can be handy. Leasing a backhoe requires less financial support and monthly or yearly commitments for 12, 24, and 36 months.
Expect to pay a downpayment between $3,000 and $5,000 with monthly payments of about $1,000.
If you rent out for some time, the companies could certainly offer discounts and waivers during repayments. It is up to you to find the one that fits your budget and preferences.
Bottom line, it is pivotal to determine all the potential factors that affect the total price and make a smart decision when to buy or rent a backhoe. If you decide to get a used one, check on the hours it’s used and its overall condition.
You may hire a specialist mechanic to do these checkups before agreeing to a purchase deal.
We hope this guide quenches your quests for finding out the costs of a backhoe!
The cost of a new backhoe can vary significantly based on factors like brand, size, features, and attachments. On average, you can expect to pay between $40,000 to $200,000 or more for a new backhoe. Smaller, compact backhoes are typically at the lower end of this range, while larger, more powerful models with advanced features command higher prices.
There are several compelling reasons to invest in a backhoe. Backhoes are versatile machines that can perform various tasks, including digging, trenching, excavation, loading, and material handling. They are essential for construction, landscaping, agriculture, and utility work, providing efficiency and versatility in a single piece of equipment.
One disadvantage of a backhoe is limited reach compared to other types of construction equipment like excavators. Backhoes have a shorter boom and digging depth, which may restrict their ability to reach deeper excavation or digging tasks. In such cases, larger excavators or specialized equipment may be more suitable.
The number of hours on a backhoe can vary in terms of what is considered a lot. Generally, a well-maintained backhoe can last for thousands of hours of operation. 5000 hours can be considered moderate usage, and with proper maintenance, a backhoe can continue to provide reliable service for many more hours. However, the specific condition and maintenance history of the machine should be assessed to determine its ongoing reliability and value.
Rhett is a certified heavy equipment appraiser and the founder of HeavyEquipmentAppraisal.com, a leading provider of equipment valuation services.
