Bobcat T550 vs Caterpillar 242D: Which Is the Better Value?
The Bobcat T550 averages $29,412 CAD at auction, compared to $23,555 for the Caterpillar 242D. That's a $5,857 difference. Based on 55 verified Canadian auction results tracked by TrackCheck, here's the full breakdown.
The Verdict
The Caterpillar 242D is the better value buy for most Canadian buyers, averaging $5,857 less than the T550.
Bobcat T550
CTL$29,412 CAD avg
$15,869
Low
$43,263
High
43
Sales
Avg 1,934 hours · 2013–2020 model years
Full price guide →Caterpillar 242D
SSL$23,555 CAD avg
$10,018
Low
$34,666
High
12
Sales
Avg 3,839 hours · 2014–2018 model years
Full price guide →How do T550 and 242D specs compare?
| Spec | Bobcat T550 | Caterpillar 242D |
|---|---|---|
| Horsepower | 61 hp | — |
| Rated Operating Capacity | 1,595 lbs | — |
| Operating Weight | 7,215 lbs | — |
| Lift Type | vertical | — |
| Frame Size | small | — |
What are the key differences between T550 and 242D?
- Price: The 242D is $5,857 cheaper on average (20% savings).
- Track Type: T550 is a compact track loader (CTL) while 242D is a wheeled skid steer (SSL). CTLs have better traction on soft ground; wheeled units are faster and cheaper to maintain.
- Usage: Used T550s average 1,934 hours while 242Ds average 3,839 hours.
Both Bobcat and Caterpillar retain value well. See our depreciation guide for brand rankings.
Looking for a T550 or 242D? Check current listings with Deal Scores.
Which is the better value: T550 or 242D?
Choose the Bobcat T550 if:
- You work on soft ground, mud, or uneven terrain
- You prefer Bobcat's dealer network and parts availability
Choose the Caterpillar 242D if:
- You want lower upfront cost ($5,857 savings)
- You work on pavement, concrete, or hard surfaces
- You prefer Caterpillar's dealer network and parts availability
How do T550 and 242D prices compare by year?
| Year | Bobcat T550 | Caterpillar 242D |
|---|---|---|
| 2020 | $20,930 (9) | — |
| 2019 | $15,869 (2) | — |
| 2018 | $27,779 (4) | $33,730 (2) |
| 2017 | $33,258 (6) | — |
| 2016 | $32,798 (8) | $14,593 (2) |
| 2015 | $35,516 (6) | $22,270 (4) |
| 2014 | $35,291 (6) | $24,234 (4) |
| 2013 | $23,370 (2) | — |
Prices in CAD. Numbers in parentheses are sample size. Lower price highlighted.
How do T550 and 242D prices compare by hours?
| Hours | Bobcat T550 | Caterpillar 242D |
|---|---|---|
| 0-999 hrs | $35,935 (2) | — |
| 1,000-1,999 hrs | $27,579 (25) | — |
| 2,000-2,999 hrs | $31,099 (14) | $26,090 (6) |
| 3,000-3,999 hrs | $33,996 (2) | $24,234 (4) |
| 4,000+ hrs | — | $14,593 (2) |
Hours matter more than age for resale value. See our hours vs age analysis.
Where can I buy a T550 or 242D in Canada?
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