In the world of construction equipment, the name Caterpillar always rings a bell. For many decades, there is just something about that three-letter word in yellow font, CAT, which is always connected to high-quality and long-lasting machines. Whether your need is on road-paving, excavating, or anything that is related to construction, the image of Caterpillar have endured for more than half a century.
And when it comes to excavators, Caterpillar, or simply Cat excavators, is always first on the line in terms of preference.
Excavators are used in varying ways. It can be used to dig trenches, holes, or foundations.
With all these good things you hear about an excavator, you may just be asking. How much does an excavator cost?
Below is a discussion on the cost of a Caterpillar excavator.
Cat Excavator Average Cost
The cost of Caterpillar excavators would be anywhere from $100,000 to about $800,000.
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The price can even be more than that if you consider all the other additional costs like taxes, transaction fees, and shipping fees. Added features of a Cat excavator can even bump your costs up to $850,000.
However, if the price of a brand-new Cat excavator is not within your budget, there are pre-owned excavators that can be purchased at a much lower price than a brand-new one.
For example, a 2004 Cat 330CL Excavator that has a meter reading of 6,424 hours would cost you about $55,000. While this may be cheaper because of them being used excavators, there are also some that would cost you hundreds and thousands of dollars. This is true for a Cat 374FL excavator sold at Iron Planet, which costs about $750,000 from a dealer. This specific Cat excavator has a meter reading of only 868 hours.
An excavator is a kind of construction equipment that is composed of a boom, a bucket, a stick and a cab. The bucket usually varies in size, ranging from 12 to 24 inches.
If your purpose is to use the Cat excavator in small spaces or to dig near the utility lines, a smaller bucket is needed. A bigger bucket, on the other hand, is needed to dig wet and muddy terrains.
Other Costs to Consider
When purchasing, please take note of the sales taxes that may be added to your Caterpillar excavator prices. Sales taxes would usually depend on the state where you bought the Cat excavator from.
Prior to the purchase, it would be best to familiarize yourself with the tax rates of the state where you are doing the purchase. This way, you would be able to finalize and make sure not to go over a budget.
Another consideration that could add to the cost of a Caterpillar excavator is the transaction fee. Although this is not true at all times, some dealers may add transaction fees to your purchase. A purchase that costs $1 to $10,000 usually has a transaction fee of 10%. It would be 3.85% or so if the purchase is between $10,000 and $33,500.
And if the selling price is more than $33,500, transaction fees may go up to $1,290. Talk to your dealer about it. Again, it should be emphasized that not all dealers would charge you with transaction fees. This is common for dealers who sell second-hand excavators.
And when you purchased your Cat excavator from another city or state, prepare to shell out additional costs to transport the equipment from where you bought it. And so if only you are given the chance to purchase an excavator from somebody near you, take that chance. You would be saving thousands of dollars if only the shipping fee is taken out of the equation.
Prior to purchasing a Caterpillar excavator, make sure to find out whether the job requires a mini excavator or a large one. A mini excavator has costs ranging from $20,000 to $90,000 while a regular excavator usually does not go below $90,000. Knowing these things beforehand can potentially save you thousands of dollars in costs.
Caterpillar dealers also offer varying financing options. Talk to your local dealer and he/she would be happy to discuss with you the credit application procedures. The dealer would also be able to talk to you about costs of financing your purchase.
You can also take advantage of their Payment Calculator to find out your monthly payments for different terms. This is also one way for you to determine the best term that is friendly enough to your budget. Make sure to try all possible financing terms for you to be able to have a picture of every possibility before you finalize the decision.
Find a dealer near you who can assist you with your purchase of a Cat excavator, with Caterpillar’s dealer locator. All you need to do is to key in the zip code of where you’re from, the model of your choice, and the other specifications. You will then be given a list of dealers who can help you with your purchase.
If your need for a Cat excavator is for only a week, you can also go for the option of just renting it out from your local contractor, for a minimum rental fee of $1,800 per week. Ask around as you may still find rental companies that rent excavators for less than $1,800. Obviously, there is no sense in purchasing one when you can rent it for a limited number of days.
Cat Excavator Cost Factors
There are numerous factors that affect Caterpillar excavator prices. One of those is when you purchase a used Caterpillar excavator. Which may lead you to ask, how much does an excavator cost if it’s pre-owned? A company named TriGreen Equipment LLC in Pelham, Alabama sells a used mini excavator with a 12-inch bucket for as low as $12,500 with a meter reading of fewer than 2,000 hours.
It should also be emphasized that the lesser the hours that the excavator has been used, the more expensive it is. This is because fewer hours mean lesser wear and tear. Its parts are also still in good condition and so there is a very small chance of changing any of its parts in the near future.
When it comes to Cat excavators, size also matters; as size, together with weight, are also cost-influencers. A small Cat excavator that is about 55,000lbs in weight costs as much as $230,000, while an excavator that is medium-sized and weighs about 80,000lbs would cost you around $230,000 to $270,000.
The same story goes when it comes to its horsepower. For example, an excavator that has a horsepower of up to 500 would cost about $400,000 to $800,000 while that with a horsepower of up to 270 would only cost you around $250,000.
Not all excavators, though, can do the job that you want to be done. If you are digging in small and tight spaces, this is where the mini excavator enters the picture.
A mini excavator, as the name itself implies, is a smaller version of a regular excavator. Used in places that cannot be reached by regular excavators, mini-excavators have buckets that usually have sizes of about 12 inches or so, and would cost you anywhere from $20,000 to $90,000.