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Compare Used Excavator Prices
Excavators are essential pieces of equipment in the construction industry. But they're also expensive. If you're in the market for an excavator but have a limited budget, consider opting for a used or refurbished model.
Most excavators have a useful life of at least 8,000 to 10,000 hours. And there are plenty of used excavator models on the market with just a few thousand useful hours logged, leaving room for years of productivity.
Used Excavator Average Costs
You'll save a substantial amount of money by opting for a used or refurbished excavator. But, don't expect the machine to be cheap.
Generally, a used excavator in good condition can be purchased at a discount of 25% to 50% of the initial purchase price. Most new excavators cost anywhere from $100,000 to $500,000. That leaves a wide range of prices for used models. Most fall in the range of $50,000 to $250,000.
- A mid-sized, five-year-old excavator with 2,500 hours might run anywhere from $50,000 to $100,000, depending on the condition.
- A mid-sized, two-year-old excavator with the same amount of hours would probably fall in the $75,000 to $125,000 range.
The price of a used excavator is influenced by many factors, including the age of the machine, its size and the condition. Excavators that have been refurbished to manufacturer's standards will be more expensive than those that haven't. But perhaps the most influential factors is the number of hours that have been logged. Think about how high mileage decreases the price of a used car.
- A 10-year-old Caterpillar 345B - one of the largest excavators available - might sell for $200,000 with only 4,000 hours of use.
- The same machine with 10,000 hours would probably only be worth $75,000 to $125,000.
Choosing a Used or Refurbished Excavator
Buying a used excavator is similar to buying a used car: There's significant research to be done before you sign on the dotted line. Read consumer reviews and talk to people in your industry about which models they purchased and why.
Make sure you do a physical inspection of any used excavator you're thinking of purchasing. Look at the track and undercarriage to check for broken parts. You should expect to see some wear and tear, but not any missing pieces.
After the physical inspection, take the excavator for a test drive. Does is make any strange noises? Does it run smoothly? Trust your instincts on this one and ask about anything that seems odd. If possible, take the excavator to a mechanic you trust for a complete inspection.
Lastly, always buy from a reputable dealer. Online auctions may seem like an attractive option because of the deep discounts. But, you never know what you're going to get. The excavator may look great in the picture due to a fresh coat of paint. But, that doesn't mean much if it doesn't run well.