Excavator is an excellent piece of construction equipment that handles every big project smoothly.
It is excellent to expand the business as these machines are widely used in the industry as for the Dump Truck.
The sheer number of copies available in the market can confuse anyone, especially if you are planning to get a new one.
Despite what people might think, not all excavators follow the same features. All of them are different from others; the variety of sizes and features makes them appealing to plenty of people.
These factors will also play a role in deciding the price they will charge in return.
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How Much Does An Excavator Cost?
Just like every other piece of new construction equipment, excavators will not be cheap, as the starting price of these machines begins from $100,000 to $500,000. Within this price range, you will find small excavators weighing 10 to 15 tons of debris and stuff from one location to another. Then you have mid-sized excavators taking the weight limit from 15 tons to 20 tons. And lastly, you have large models. They have a weight power of 30 to 40 tons and are currently the biggest excavator in the market.
The commonly used excavator in the construction industry is the medium-sized excavator that weighs up to 20 tons. So the small, medium, and large-scale excavators will share a difference in the price range since they don’t share the same carrying weight. Here are the details about the excavators along with the prices.
| Size | Cost |
|---|---|
| Small excavators | $80,000 to $150,000 |
| Mid size excavators | $100,000 to $200,000 |
| Large Models | $200,000 to $400,000 |
The prices will not be the same, but they will fall into the category mentioned above on average.
As you can tell they are not cheap; but the investment will bring over plenty of profits and these types of equipment are heavily demanded in the field of construction.
Nowadays the inclusion of modern technology offers more variety and options to the consumer that never was done before, for example, some popular brands such as Caterpillar offer online calculators to help you build your dream machine with the estimated cost that fits your budget.
You will get to decide what goes in the machine and what stays out.
The addition of these mechanics has made buying construction equipment more fun and cost-friendly. As they will be used for digging foundations, holes, demolitions, forestry work, brush clearing, landscaping, grading, mining, and heavy lifting.
Initial Price for an Excavator
The initial price will be enough but you have to add the accessories to get the most benefit out of the machine. Some accessories are standard when you get a new one, but you will need much more than having a bucket.
There are different sizes and forms to build that will help you deal with the specific work with the excavator.
These kinds of choices and options add more to the money requirement of these vehicles, plenty of attachments of excavators are sold separately.
They include thumbs, rakes, blades, and hydraulic hammers.
Here you can easily blow between $5000 to $10,000 for each attachment you add to the machine.
Why are Excavators so Expensive?
Not many people are fond of the idea of picking up a new excavator for their construction purposes. It can be very understandable, as the prices are not cheap, they are costly.
What is the most expensive excavator?
The highest one will cost half a million dollars. Making such a large investment into a machine begs plenty of questions. As now the technology has made plenty of industry more affordable, why not see the same things apply here in the construction industry equipment?
How much is a new excavator cost?
The new excavator now feature more advanced technology with better fuel efficiency and productivity.
Compared to the older models, they are now more efficient than they ever were in the past. As a result, the driver behind the wheel will have a much more comfortable time using the machine comfortably and effectively.
This will reflect how the work will get done within the given time. If the driver feels comfortable in the work they are doing, the work will get done faster.
The newer model offers more choice, you can choose the product based on your demand, which wasn’t the case back then.
The ability to choose the one that fits your requirement rather than going with the default one will save plenty of money.
You will get a machine based on your exact specification and requirements. As we saw earlier, both small, medium, and large varieties have their own price listing and equipment usages.
Since the attachment is optional, you can save plenty of money getting a new one than getting the entire set before.
Advantages on Buying a new Excavator
Another perk that you get from buying a new excavator is the perk of a warranty. Purchase any new excavator off the market you will get to deal with a comprehensive warranty that covers almost everything.
In case anything goes wrong, you will not have to worry about the repairs and services. The company will take care of these issues for free.
This rule will apply for at least a year. The only negative about the new machines is the prices, they are very expensive. This is why people resort to different methods of obtaining instead of going with method 1.
Ways To Buy a New Excavator
Very few people in the world have several hundred thousand dollars lying around on their floor. There are plenty of people who will be reluctant to obtain a new excavator doesn’t matter how much money they have.
There are options that you can choose to lessen the price for you at first.
1-Financing The Price Of the Excavator
The first one is done by going through financing options. Most dealers now offer financing options for the consumer to pay for the machine over time.
Here you have to deal with minor inconveniences such as credit checks and interest rates. But often, you are allowed to create a deal that works without, and then you can work around that number.
So financing offers great value for people who want the machine but don’t want to spend a half-million dollars to get one of the people who don’t necessarily have hundreds of thousand dollars in them.
In addition, financing will somewhat lessen the blow of the money by giving the consumer another way of paying the money according to their terms and agreement.
2-Getting a used excavator To Save Money
If you don’t want to go through the financing options, then you can settle with a used excavator. They are an essential piece of equipment in the construction industry and their demands are high.
If you are on a limited budget and don’t want to spend hundreds of thousands of dollars for a new one, then consider getting a used or refurbished model for your industry.
The lifespan of excavators sits at 8,000 to 10,000 hours before seeing the damage. So getting a used one will be better in the long run. It all depends on the used machines that you are buying.
If you are interested in getting a used excavator, here are all its pricing details.
Pricing Details of a Used Excavator
You will save plenty of money going for a refurbished or a used excavator in the market.
But there are things that you should consider beforehand to get the right machine that meets all of your needs.
One thing you can expect is the expensive; just because they are in the category of cheap or refurbished, that doesn’t necessarily translate to cheap.
You will see the price drop by 25% to 50% of the initial price tag of a new excavator in the market.
How much is a used excavator?
A used one will be cheaper fall in the range of $50,000 to $250,000. Compared to the new one where it will cost you around $100,000 to $500,000.
How much is a Mid-size used excavator?
Here a mid-sized excavator will cost around $50,000 to $100,000 depending on the machine’s condition, whereas a mid-sized excavator with a more recent build will cost $75,000 to $125,000. As you can see the difference in the prices is directly related to the age of the machine.
For example, if an old excavator has 2 years of usage, it will fetch a higher price in the market than an excavator with 5 to 7 years of usage.
It doesn’t necessarily matter how many hours they’ve been sued, the only thing that matters here is the years from the purchase.
If you plan to get used to the market, you have to judge the machines based on these aspects alone. If the excavator has a large amount of usage, it will cost a lot compared to the other.
The price alone is also influenced by many factors besides the age of the machine. The size and condition of the vehicle will play a role in deciding the end price.
Difference between Refurbished vs Used
One thing to make sure of is to know the difference between refurbished and used. The user and nobody else will drive a used product.
When you get a refurbished piece of equipment, you can put your trust in it as it matches the manufacturer’s standard.
The refurbished one will give you the best deal, and it will perform the same way as the manufacturer intended. Getting a refurbished one might sound good, but it will be more costly than purchasing the used one.
The refurbished model of the excavator will fall close to the amount of the new one, while the used one will sit at half of the price or 25% of the newer model. It all depends on how recent the purchase is and the hours they have been used.
Most of the time it leans on the purchase date, any recent model will go for a much higher amount and will be more efficient compared to the old one.
Why is inspection important Before Buy an Excavator?
Another thing that you should do is to do a deep inspection of the seller. Most sellers will hide information about the construction equipment.
So they will hide important key data such as restoration time, servicing, and the date of purchase.
These things may not be important now, but when the machine breaks down, then you need all the paperwork to see if there is a warranty left or any damage was previously down to the machine fast or not.
Finding answers to these questions will get you on the safer side of things.
As a buyer, you have the right to see every bit of information related to the machine. So you will make a good decision in the end.
Full transparency is what you need to put trust in the product.
If the seller is reluctant to reveal any document, you should go with the other suppliers for the same vehicle for a different one.
You want the vehicle to work in the way you imagined it to be. You will find the number of hours used on the excavator doesn’t matter if the age is right.
Getting your hands on the target excavator will seem hard, as there are only a few out there, and there is a tough bidding process that you have to deal with when you are catching the big one.
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Conclusion
Excavators in this construction boom phase of our world have become the most demanding piece of construction equipment in the market. The higher demand means people will have more profit using it. This is one of the reasons why you see a higher price tag attached to the machine. But there are things that you should take into consideration before blindly purchasing it. Make sure to take a test drive of the machine before using it and inspect it properly, too if it fits your criteria.
