I know very little about a Ford backhoe. Over the years, I have owned an IH 3400 series A that was used on construction. I worked on it a while and used it a while. Owned it for about three years and sold it for a $3k profit. Probably saved 4K with the work I did.
I now own a Case 480D (standard backhoe) with 2,200 hours. I paid 9.5K and have done about $3K of work with it. I have sepent about $300.00 in repair. I have it sold for $11K when I get through with it--which will be this spring.
Everything works--lights---gauges and even the back-up warning horn.
I said all this to suggest you get the best machine you can afford. If you can do the work yourself, that is a blessing.
Without a major breakdown, you should be able to get all your money back and maybe a profit if you are lucky!
Just realise that an older machine has already depreciated a great amount, and should hold ther current value for quite some time.
Of course that is the reasion for your post--you don't want to pay too much:thumbsup: