Excavator vs Backhoe Financing

backhoe financing, excavator financing, mini excavator financing

Need Backhoe Financing or Excavator Financing?

First Capital Business Finance can help you secure backhoe financing or excavator financing. Depending on your needs and the line of work you are in, you will want to choose one or the other. So how do you make that choice? Let the experts at First Capital Business Finance break it down for you. Below we discuss the differences between excavators and backhoes, so you can get a better idea of what would best fit your needs for your business.

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What’s the Difference Between Excavators and Backhoes?

Excavators and backhoes are both pieces of heavy construction equipment that allow users to dig and move materials. Though they may look similar, they both have different strengths and weaknesses. You should decide to pursue either backhoe financing or excavator financing based on a few factors, including scope of work, space you’ll be working in, and others.

backhoe financing, excavator financing, mini excavator financingBackhoes or Backhoe Loaders

  • Best suited for light to medium duty work
  • Has a 200-degree pivot
  • Typically used on farming and industrial sites
  • Can move between work sites on its own

Backhoes are really just small tractors supporting an arm with two sections, called the dipper and the boom. The dipper is the part of the arm holding the digging bucket, while the boom is the piece closest to the tractor. The backhoe earned its name from the way it digs, by drawing dirt backwards onto itself. Other machinery, like bulldozers, dig by lifting in a forward motion instead.

The biggest benefit to owning a backhoe is the machine’s versatility. You can customize your backhoe with different attachments to do different jobs. Examples of attachments include the tilt rotator, breaker, grapple, auger, and more. They are also smaller than excavators and can fit in places standard excavators cannot. Finally, the backhoe can drive 25 mph if it needs to move between work sites. They’re also great for snow removal!

backhoe financing, excavator financing, mini excavator financingExcavators or Mini Excavators

  • Best suited for medium to heavy duty work
  • Has a 360-degree pivot
  • Typically used on industrial and commercial sites
  • Mini excavators can be transported via trailer or truck

Excavators and mini excavators are great for commercial and industrial work, including digging, lifting, demolition, landscaping, and more. They weigh around 3,500 to 200,000 pounds, depending on the model. The mini sizes can be transported from site to site via trailer or truck, but the larger models cannot.

The biggest advantage to owning an excavator is the way it moves. While the backhoe has a pivot of 200 degrees, excavators have the ability to rotate 360 degrees – both the chassis and the boom altogether! These can also use a variety of hydraulic attachments to perform different work, like quick couplers, augers, etc.

Mini Excavator Payments & Terms

Here are a few practical examples on what it takes to finance a mini excavator for your business.

Example A: Used Mini Excavator $20,000
  • 5 Years’ Time in Business, Excellent Credit, Good Business Credit
  • Zero Down, 1st & Last Months Payments Due at Closing
  • 36 months: $690
  • 48 months: $535
  • 60 months: $440
Example B: Used Mini Excavator $20,000
  • Startup Business, Average Credit, No Business Credit
  • Zero Down, 1st & Last Months Payments Due at Closing
  • 36 months: $829
  • 48 months: $679
  • 60 months: $589
Example C: Used Mini Excavator $20,000
  • Startup Business, Less than Average Credit, No Business Credit
  • Zero Down, 1st & Last Months Payments Due at Closing
  • 36 months: $979
  • 48 months: $849
  • 60 months: $770

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Example D: Used Mini Excavator $20,000
  • Anytime in Business, Poor Credit, No Business Credit, Income Qualifications
  • 10% Deposit Due at Closing
  • 36 months: $980
  • 42 months: $920
  • 60 months: $NA
Example E: Used Mini Excavator $20,000
  • Anytime in Business, No Recent Poor Credit, No Business Credit, Income Qualifications
  • 10% Deposit Due at Closing
  • 36 months: $934
  • 48 months: $NA
  • 60 months: $NA
Example F: Used Mini Excavator $20,000
  • Anytime in Business, Very Poor Credit, No Business Credit, Recent Bankruptcy & Repo Ok
  • 50% Deposit Due at Closing
  • 36 months: $588
  • 48 months: $520
  • 60 months: $NA

backhoe financing, excavator financing, mini excavator financingGet Backhoe Financing or Mini Excavator Financing from First Capital!

Now that you know the differences between excavators and backhoes, it’s time to make a decision. If you’re still unsure, the experts at First Capital can help you to pick the perfect equipment. Just call us at 888-661-4191 and we will be happy to discuss your needs with you. If you’ve made your choice and you’re ready to secure excavator financing or backhoe financing, contact us now! We are ready to help you get what you need today!

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Excavator vs Backhoe Financing | First Capital Business Finance



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