There are many types of construction vehicles and equipment that are necessary for construction jobs. Each one serves its own function, making construction a highly specialized and equipment-intensive industry. When construction spending increases, your company will be presented with more revenue opportunities, and you will need to have the right equipment for the job at hand.
The cost of construction equipment varies depending on the type, size, and accessories. Continue reading this Balboa Capital blog post to learn the cost three widely used types of construction vehicles: excavators, skid steer loaders, and wheel loaders.
Most projects begin with digging, making an excavator an essential piece of equipment for any job site. Excavators are composed of two basic parts: a driving base and an attached arm for digging and lifting objects. A new excavator can be the most expensive piece of construction equipment you can buy, ranging from $100,000 to $500,000 for a full-size rig, and $80,000 to $150,000 for a mini excavator.
Used excavators usually sell for 25% of the original price. Additional attachments, such as buckets, rakes, and hammers, can cost up to $10,000.
Skid steer loaders
Skid Steer loaders can serve many functions depending on what attachment is used, making them the workhorse of any construction site. Skid steers can cost between $17,000 and $30,000, depending on desired capacity. Attachments increase the versatility of the vehicle, while also escalating the purchase price.
Basic buckets cost about $1,000, while hydraulic hammers can run as much as $20,000. Purchasing a used skid steer can help you save a significant amount and attachments are sometimes included. Expect to pay between $15,000 and $20,000, depending on capacity and hours logged.
Wheel loaders are a type of tractor with large tires and tread ideal for many types of jobs. Wheel loaders feature a square bucket, attached to either the front or back of the vehicle, which is used for scooping, digging and dumping. The cost of a wheel loader depends on the size.
A compact version can run between $40,000 and $130,000 new, while a larger rig can cost up to $500,000. If you are considering adding one of these construction vehicles to your fleet, Balboa Capital can help you finance it for less than you might imagine. We specialize in construction equipment financing, which does not deplete your cash flow.