Do you need a new backhoe or backhoe loader, but don’t know where to start? Check out this pricing guide for renting vs. purchasing backhoes categorized by size and type. Then, we’ll dig deeper to help you decide whether purchasing or renting a new or used excavator be the most cost-effective method of financing for your new heavy equipment.
Note: The prices listed below are averages. Variables including location, security deposit policies, whether or not you need an operator included, and the addition of extra extensions to your machine will all affect the total renting price.
|Machine Type||Mini||Full Size|
|Backhoe||$300-$600 Per Day||$350-600 Per Day|
|Backhoe Loader||$200-$300 Per Day||$400-$600 Per Day|
|Tractor w/ Loader Extensions||$50-$100 Per Day||$100-$200 Per Day|
Note: The higher the price, the more powerful the machine, the deeper it can dig, and the farther it can reach.
|Machine Type||Mini||Full Size|
|Tractor w/ Loader Extensions||$10k—$20k||$20k—$40k|
Note: The prices listed below are averages, and are subject to change depending on dealer policies, location, and the nature of the projects involved.
|Backhoe Operator||$50-$100 Per Hour|
|Insurance Waiver||%10-%15 of Total Rental Cost|
|Extensions/Accessories||$50-$100 Per Day|
|Transportation Fee||$150-$300 Per Day|
When it comes time to financing your backhoe, the decision of whether to rent or own your new equipment is one that should be taken with caution. You don’t want to pay too much for something you don’t have to, but you also don’t want to underpay for equipment you’ll need regularly. It all comes down to these 3 factors:
Bigger projects typically call for weekly or even monthly use of excavation equipment. While the smaller prices of renting equipment may sound appealing, long-term renting eventually adds up, and construction business owners can quickly find themselves paying way more than the purchase price of the backhoe itself.
Then again, if your company does not need excavation on a regular basis, but only for one-and-done projects every now and then, then renting equipment may be the choice for you.
What if we told you that there were backhoe financing options available that gives contractors the ability to pay small amounts periodically as if they were renting heavy equipment, with the end result of owning their new backhoe once the entire cost is paid off?
Now, what if I told you that these financing options are also helping contractors save anywhere from tens to hundreds of thousands of dollars every year, while helping them gain working capital at the same time? And what’s more, they’re available to all construction business owners, regardless of credit score and financial history!
NBC has a reputation for getting construction owners the funds they need, when they need it. Click the link here to fill out our 1-minute application online and get what you need in as little as 24 hours—or call (877) 482-3008 to speak with one of our Business Financing Advisors, and see if construction business financing is right for you!
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Matt Carrigan is the Content Writer at National Business Capital & Services. He loves spending every day creating content to educate business owners across every industry about business growth strategies, and how they can access the funding they need!