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Excavators are essential pieces of equipment in the construction industry. Because almost every project requires some amount of digging, excavators are one of the most widely used machines in the industry.
If you’re in the market for a new excavator it’s easy to be overwhelmed by all of the choices. Excavators come in a variety of sizes and with varying features. All of those factors translate to a wide variety of prices. Here, we’ll give you an idea of what you can expect to spend for varies sizes, types and accessories.
About New Excavators
Excavators are heavy pieces of construction equipment that consist of four main parts: a boom, a bucket, a stick and a cab that sits atop a rotating platform. They are powered by hydraulic fluid.
There are a variety of uses for excavators, including:
- Digging foundations, holes and trenches
- Forestry work and brush clearing
- Landscaping and grading
- Heavy lifting
New Excavator Average Costs
Excavators are no small investment. A new excavator usually runs anywhere from $100,000 to $500,000. But before you faint from sticker shock, consider how crucial excavators are to your everyday operations. Excavators also have a very long useful life, so it’s not an investment you’ll have to make often.
- Small excavators weighing 10 to 15 tons usually cost anywhere from $80,000 to $150,000.
- Mid-sized excavators weighing 15 to 20 tons generally range in price from $100,000 to $200,000. This is by far the most common excavator size.
- Large models weighing 30 to 40 tons are often priced $200,000 to $400,000.
Some of the most popular brands, such as Caterpillar, offer an online calculator that allows you to build your ideal excavator and estimate the total cost.
New Excavator Accessories
Some accessories come standard with a new excavator. You’ll usually get one bucket, but if you require multiple buckets or additional sizes, plan on spending an additional $1,000 to $5,000 for each one.
Powered attachments are usually sold separately. These include things like thumbs, rakes, blades and hydraulic hammers. Expect to spend an additional $5,000 to $10,000 for each attachment you purchase.
New Excavator Financing and Payment Plans
If you don’t have several hundred thousand dollars lying around to buy a new excavator, don’t worry. Most dealers have financing options that allow you to pay for this crucial piece of equipment over time.
Many financing plans are available with little or no money down. However, you will be subject to a credit check. Companies with difficult credit histories may not be approved or may have to pay high interest rates. In some cases, you can negotiate the amount you’re comfortable paying monthly and work around that number.