How Much Does a New Backhoe Loader Cost?
Last Updated: December 08, 2021
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Backhoe loaders are among the most versatile pieces of construction equipment. With a backhoe on one end for digging and a loader bucket on the other end for scooping, backhoe loaders are essentially two machines in one.
Backhoe loaders are also popular for their compact size. It's the perfect machine for construction on small lots or in urban areas where space is at a premium. Because of their size and versatility, backhoe loaders are sometimes the only piece of equipment on small construction sites.
About Backhoe Loaders #
Backhoe loaders are used primarily for digging and filling holes and trenches. But, they have a wide variety of other uses, too. The machines can be used for paving roads, breaking asphalt, landscaping, small demolition, and many other things.
Backhoe loaders become even more versatile when the bucket is replaced with another attachment. Buckets can be replaced with breakers, augers, stump grinders or even snow plows to perform a host of other functions.
Backhoe Loader Average Costs #
The price of a backhoe loader is heavy influenced by the machine's size, dig depth and horsepower. Generally, larger machines have greater dig depth and more horsepower.
- The smallest machines capable of digging just six feet deep can be purchased for $12,000 to $20,000.
- Backhoe loaders with a dig depth of 9 to 10 feet usually cost $25,000 to $35,000.
- Machines with a 14-foot dig depth - the industry standard - and horsepower between 70 and 90 cost anywhere from $50,000 to $90,000.
- Slightly larger models with dig depths of 15 to 16 feet run $75,000 to $110,000.
- Backhoe loaders with dig depths greater than 16 feet usually cost $110,000 to $150,000.
Prices vary from dealer to dealer, so make sure you shop around to find the best price. Keep in mind that upgrades and optional features can quickly add thousands to the purchase price. Those include options like four-wheel drive and automatic transmission, which make it easier for your crew to operate the machine.
If you need additional attachments such as breakers, augers, or stump grinders, budget and extra $1,000 to $2,000 for each.
Backhoe Loader Financing #
Talk to your dealer about financing options if you can't afford to shell out thousands of dollars upfront to purchase a backhoe loader. Most dealers partner with the manufacturer to offer financing plans with affordable payments.
Leasing is another option if you're short on cash or want to conserve working capital for other expenses. You can lease a backhoe loader for little or no money down, spreading payments over one to five years. At the end of the lease, you can opt to buy the machine, return it, or trade it in for a newer model. In the long run, however, leasing is generally more expensive than buying outright.