There are plenty of options when it comes to getting an excavator for your company. From mini excavators to mining excavators, new and used, there's virtually an excavator for every job in the world that requires digging.
Unless you're looking for a mining excavator, which costs well over a million dollars new, you can expect to pay between $100,000 and $500,000 for a new full-sized model. You can expect to pay between 20% and 50% less for the same model used.
Which make, model, and condition of an excavator is best for your needs depends on many factors, and the process of securing a machine can be complicated. Before you break the bank, or go deep in debt - which we here at ConEquip Parts strongly advise you not to do, if you can avoid it - consider some basic factors when buying an excavator.
The Size
Don't get an excavator that's too big or too small for the jobs you expect to perform. If you expect your excavator will be used for some demolition, you may want to consider a machine like a Caterpillar 336 or a Komatsu PC210. Machines that size not only move a lot of dirt, they can knock down large structures.
If you need to do more trench work and land clearing, you may be just fine with a smaller excavator like a Volvo EC140 or a Case CX130.
Finally, if you're going to be some residential digging, you're probably going to be looking at models like a Bobcat E42 or perhaps a Kobelco SK35.
You can expect to pay about $40,000 for a new mini excavator, around $100,000 for 15 tonne machines, upwards of $200,000 for a mid-sized excavator in the 20 tonne range, with models weighing 40 tonnes or more fetching near half a million dollars.
To help in your decision making, you can use an excavator calculator which gives you an idea of how much you'll spend on a machine that will get the work done.
Accessories
Another major factor you need to consider is machine accessories. While some accessories come standard with most new machines, other accessories can be added to certain models later.
Buckets are the most obvious attachments. You can expect to pay at least $5,000 for new buckets, while used buckets usually start around $1,000 and go up from there.
Other attachments include thumbs, rakes, blades, hammers, augers and more. All attachments will be additional costs you need to consider.
Financing
As mentioned before, ConEquip does not advise going into debt if it can be avoided. A debtless path to take is difficult to pull off in the construction industry. For this reason, if you are going to use credit, you need to crunch numbers obsessively before making an investment.
Will you be able to line up projects immediately? Do you have the capital necessary to support the new machine? Maintenance is a costly proposition. Do you have the ability to replace expensive parts like a final drive or a main hydraulic pump? A new excavator will usually come with some kind of protection but payments could out pace profit and that could quickly put you out of business.
Used Excavators
One option is to go with a used excavator. The money you can save buying used can be used towards maintenance, attachments, and other business priorities. However, as with anything used, there is of course risk.
Check over a used machine extensively, get as much information on the machine as possible, and get main components thoroughly checked out. If possible, run diagnostic tests on the engine, and other main parts.
Most excavators last at least 8,000 hours. One main consideration is the age of the machine and the availability of parts. You may find a used excavator that runs like a champ, but has discontinued parts from the dealer. If aftermarket parts aren't available, you could be one failed component away from having nothing more than scrap metal.
Here is a great video produced by Ritchie Bros. Auctioneers on tips to determine the value of a used excavator.
Inspecting a Used Excavator
Make sure you do a physical inspection of any used excavator you're thinking of purchasing. Look at the undercarriage to check for broken or missing parts.
After the physical inspection, take the excavator for a test drive to listen for clanks, clunks, squealing, and any other noise foreign to how an excavator should sound.
There are many other areas of an excavator to investigate so watch this video produced by ConEquip Parts for tips, and be sure to look out for the tiger. Yes, the tiger.
When you finally purchase that excavator, and need parts, be sure to give ConEquip a call!
