Not a Simple Yes or No
When I first started helping our company evaluate compact excavators, I assumed the cheapest option was always the winner. Six years and about $180,000 in tracked equipment spending later, I know better. The right choice depends entirely on your situation—and there's no one-size-fits-all answer.
So let's break this down by the three most common scenarios I've seen. If you're looking at a bobcat compact excavator (new or used), or even just exploring used bobcat mini excavators for sale, here's how to think about it.
Scenario A: You Want Long-Term Ownership (3+ Years)
This is for the contractor who keeps equipment for a decade. Maybe you run a small crew, you know your maintenance schedule, and you plan to put 1,500 hours on it over five years.
My recommendation: Buy new or low-hour used (under 500 hours).
Why? Because the total cost of ownership over 5 years often favors a machine you know the full history of. A bobcat compact excavator has excellent resale value if maintained, and depreciation is predictable—about 20% in year one, 15% in year two, then 10% annually.
But here's the catch: if you buy a used machine with 2,000 hours, you're very likely facing a major service event (hydraulics, undercarriage) within 18 months. That'll cost you $3,000–$6,000 depending on the model. I learned this the hard way when we bought a 2019 model with 2,400 hours. The 'bargain' price of $18,500 turned into $24,000 after a hydraulic pump rebuild at 2,600 hours.
(Should mention: we had the machine inspected pre-purchase, but the pump showed no visible wear. You can't always catch everything.)
Example from our records:
- New Bobcat E35 (2024): ~$42,000
- Used with 500 hours (2022 model): ~$34,000
- Used with 2,000 hours (2019 model): ~$18,500 (but add $6,000 for expected repairs)
The new or low-hour used path wins on TCO if you keep it 5+ years.
Scenario B: You're Trying Out a New Brand or Model
I helped a friend who runs a landscaping business evaluate a bobcat compact excavator last year. He was switching from a competitor. He almost bought a used machine from a private seller.
Don't. If you're new to a brand, rent first. Even if you've run excavators for years, each brand has quirks—joystick sensitivity, visibility over the blade, hydraulic flow for attachments. I always recommend a 2-week rental minimum before committing to a used purchase.
Why this matters:
When my friend didn't rent first, he discovered the boom swing radius didn't match his typical job site constraints. He sold the machine after six months at a loss. The rental would've cost $1,200 for two weeks. The loss? $4,500 after transaction fees.
Take this with a grain of salt: that was a specific case where the operator's work style didn't match the machine. But I've seen it happen three times in six years.
Scenario C: You Need It for One Project (or Seasonal Work)
If you have a 3-month grading project or you need a backup machine for peak season, lease or rent. Don't buy.
I know, it feels like throwing money away. But consider this: if you buy a used bobcat mini excavator for sale for $20,000 and use it for four months, then let it sit, you're paying for storage, insurance, and depreciation. Plus, you'll need to winterize it and possibly deal with battery issues. I've seen equipment sit for 12 months and lose $3,000 in value just from market depreciation.
Instead, negotiate a 3- or 6-month lease. You'll pay maybe $2,000/month for a machine that would cost $20,000 to buy. That's $12,000 total, but you walk away clean—no storage, no maintenance, no resale headache.
(I should add: if you expect to need the machine again within 18 months, buying starts to make sense. Run the math on your utilization rate.)
How to Know Which Scenario You're In
Here's a quick checklist I've built into my procurement spreadsheet:
- Will you use it more than 500 hours/year? → Scenario A (buy new/like-new)
- Are you switching from another brand or model? → Scenario B (rent first)
- Is this for a single project or seasonal peak? → Scenario C (lease/rent)
Roughly speaking, this framework has saved us about 12% on equipment costs compared to when I was guessing. I still kick myself for not adopting it sooner—I wasted about $4,000 on a poorly chosen used skid steer back in 2021.
One more thing: if you're also looking at other equipment like a scissor lift or Dewalt air compressor for the same projects, apply the same logic. The question isn't 'what's the lowest price'—it's 'what's the lowest cost over the time I actually need it.'
