Excavators are among the most flexible construction equipment, suitable for a wide range of jobs. However, they may also be rather pricey, so knowing their excavator cost is crucial before you buy one.
What is the exact cost of an excavator? According to the used construction equipment supplier, several factors affect the pricing of these excavators. Let’s look in detail.
How Much Does an Excavator Cost?
Let’s look at the factors affect excavator prices:
- Size: One of the main elements influencing the cost is the excavator’s size. There are several different sizes of excavators; small excavators typically weigh about two tons, while huge excavators can weigh up to one hundred tons.
- Model: The excavator model you select will also impact the cost. You must determine which features are most important because some models are more expensive than others.
- Age: An additional factor influencing the cost of the excavator is its age. Of course, a newer machine will cost more than an older one, but a used excavator can be a decent choice if money is tight.
- Condition: Another element that will affect the cost is the excavator’s state. Before purchasing a used excavator, make sure to have it inspected by a trained specialist.
Certain machines cost more than others, as one might anticipate.
Additionally, different brands may stand for higher quality standards. A brand name can offer you more credibility when buying an excavator for your equipment rental company, but it may also raise the excavator cost of acquisition and upkeep.
Typical Brand New Excavator Cost (Price Ranges)
How much does a brand-new excavator cost? The price range, contingent on the previously mentioned parameters, might range from $100,000 to $500,000. In comparison to other manufacturers, some of the most well-known brands (such John Deere, Komatsu, and Caterpillar) are the most expensive excavator brand, but they also provide better quality and value.
You may run into these leading excavator brands while looking for the best machines for your company. Excavators from these recommended brands typically cost the following amounts:
- Caterpillar: The price range for tiny CAT excavators is $100,000–$200,000, and for medium-sized machines is $200,000– $300,000. Larger CAT excavators may cost as much as $850,000.
- John Deere: Depending on their size, John Deere excavators can cost between $50,000 and $300,000.
- Sany: Excavators made in China often cost between $50,000 and $250,000.
- Kobelco: Excavators manufactured in Japan by Kobelco can cost between $30,000 and $200,000.
- Komatsu: This company’s excavators cost $55,000 to $500,000, with some of its largest models selling for as much as $2 million.
The Cheapest Prices for Excavators You Can Find
Mini-excavators are the most affordable types of construction equipment. These devices start at about $75,000 when they are brand-new. Used models may run you as little as $50,000. Larger excavators are typically far more costly; nevertheless, used versions are usually a more cost-effective choice.
Also, you can go for leasing heavy equipment if you think these new machines are expensive. For short-term projects or businesses without adequate capacity for storing machinery, renting construction equipment can frequently be a more economical option. The type of equipment, its state, and the lease length are typically considered when calculating rental prices.
What Is the Price of a New Excavator?
The factory suggests a price range for a brand-new excavator between $80,000 and $500,000. The final cost is determined by the apparatus’s brand, model, size, and particular features. Extra dumpster bucket with excavator and attachments, for example, can easily push the ultimate excavator cost up to $10,000 or more.
What is the cost of used excavators? Because used excavators normally sell for around 25% of their original cost, some operators and business owners may find them to be an inexpensive option.
What benefits come with purchasing a new excavator at such a large savings? In general, a new machine will provide advantages such as:
- Access to the most recent features and specifications
- Better overall condition
- Lower likelihood of needing repair
However, purchasing a new model has drawbacks as well. Some of these include:
- More upfront costs.
- Postponed manufacturing timelines.
- Extraneous or superfluous features.
- Limited product reviews to guide purchase decisions.
7 Brand New Excavator Model & Cost List 2024
List of best 7 brand new excavator models along with their estimated costs for the year 2024:
- Caterpillar 320 GC – Estimated Cost: $150,000
- Komatsu PC200LC-8M0 – Estimated Cost: $160,000
- Volvo EC220E – Estimated Cost: $170,000
- Hitachi ZX210LC-6 – Estimated Cost: $165,000
- Hyundai R220LC-9S – Estimated Cost: $155,000
- JCB JS220 – Estimated Cost: $175,000
- Kobelco SK210LC-10 – Estimated Cost: $168,000
The primary benefit of purchasing a used excavator is the financial savings, making it a viable choice for individuals who require an excavator for a short duration. On the other hand, older excavators might not function as well as more recent models, and they might need more frequent maintenance based on the age and state of the equipment.
Expert rental firms may want to consider purchasing a new excavator because it will extend the equipment’s lifespan and increase its rate of return. By including the additional cost in the rental agreement’s pricing, you may be able to strike a compromise between the extra expenses of a new model and the performance of a new machine.
How Much Does a Large Excavator Cost?
Most construction projects require a large or full-size excavator, also known as a conventional excavator. According to various sources, a secondhand full-sized excavator can cost approximately $50,000, while new ones can cost anywhere from $200,000 to $600,000.
More than forty-five metric tons make up a huge excavator. Their powerful engines make them appropriate for huge and heavy-duty tasks. A huge excavator can dig the foundations of commercial buildings, apartment buildings, or large pole barns. Additionally, you can level the ground for your shipping container home or Amish pole barn by using this equipment to move enormous amounts of dirt.
How Much Does a Mini Excavator Cost?
Mini or compact excavators usually weigh less than six tons. Although they can be slightly bigger, mini-excavators often weigh no more than 10 tons. Less than seven metric tons make up these excavators. A tiny excavator’s compact size makes it perfect for operating in confined areas. Because of its zero tail swing, you can use it close to buildings without worrying about causing harm to already-existing structures.
Because of its modest engine, a small digger or excavator can be used for tasks that don’t require a lot of power, such as installing water lines, landscaping, and repairing sewers and foundations. However, its small engine also means it can’t provide the necessary digging depth for every project.
Multiple sources say a new mini excavator can cost as much as $50,000, so be prepared to spend at least $10,000 on a used one. Small or compact excavators are other names for mini excavators. Less than seven metric tons make up these excavators.
Overall Costs Of Owning Construction Equipment
Other costs are associated with owning construction equipment beyond the original purchase price. Maintenance, storage fees, and running costs, including labor and gasoline, are examples of hidden costs. The total excavator cost includes depreciation, insurance fees, and possible finance costs. Knowledge of these supplementary expenses will help you comprehend your overall investment more clearly.
Which Excavator Is Best For You?
It’s important to choose the correct excavator. For additional details, see our advice on what to look for when purchasing an excavator.
If you operate machinery, you should choose a model with the features required for your work, whether gardening, building, or other tasks. Equipment rental companies should also invest in valuable and versatile instruments to ensure a high rate of return.
