Bobcat T650 vs Caterpillar 232B: Which Is the Better Value?
The Bobcat T650 averages $34,259 CAD at auction, compared to $18,440 for the Caterpillar 232B. That's a $15,818 difference. Based on 147 verified Canadian auction results tracked by TrackCheck, here's the full breakdown.
The Verdict
The Caterpillar 232B is the better value buy for most Canadian buyers, averaging $15,818 less than the T650.
Bobcat T650
SSL$34,259 CAD avg
$148
Low
$61,348
High
143
Sales
Avg 3,044 hours · 2010–2020 model years
Full price guide →Caterpillar 232B
SSL$18,440 CAD avg
$14,269
Low
$22,348
High
4
Sales
Avg 801 hours · 2005–2005 model years
Full price guide →How do T650 and 232B specs compare?
| Spec | Bobcat T650 | Caterpillar 232B |
|---|---|---|
| Horsepower | 74 hp | — |
| Rated Operating Capacity | 2,570 lbs | — |
| Operating Weight | 9,185 lbs | — |
| Lift Type | radial | — |
| Frame Size | mid | — |
| High Flow | 1 gpm | — |
What are the key differences between T650 and 232B?
- Price: The 232B is $15,818 cheaper on average (46% savings).
- Usage: Used T650s average 3,044 hours while 232Bs average 801 hours.
Both Bobcat and Caterpillar retain value well. See our depreciation guide for brand rankings.
Looking for a T650 or 232B? Check current listings with Deal Scores.
Which is the better value: T650 or 232B?
Choose the Bobcat T650 if:
- You prefer Bobcat's dealer network and parts availability
Choose the Caterpillar 232B if:
- You want lower upfront cost ($15,818 savings)
- You prefer Caterpillar's dealer network and parts availability
How do T650 and 232B prices compare by year?
| Year | Bobcat T650 | Caterpillar 232B |
|---|---|---|
| 2020 | $58,633 (4) | — |
| 2019 | $35,061 (12) | — |
| 2018 | $34,160 (14) | — |
| 2017 | $39,602 (10) | — |
| 2016 | $38,512 (28) | — |
| 2015 | $36,931 (24) | — |
| 2014 | $29,227 (21) | — |
| 2013 | $32,758 (6) | — |
| 2012 | $33,418 (6) | — |
| 2011 | $32,382 (8) | — |
| 2010 | $22,146 (6) | — |
| 2005 | — | $18,440 (4) |
Prices in CAD. Numbers in parentheses are sample size. Lower price highlighted.
How do T650 and 232B prices compare by hours?
| Hours | Bobcat T650 | Caterpillar 232B |
|---|---|---|
| 0-999 hrs | $51,998 (2) | $22,179 (2) |
| 1,000-1,999 hrs | $48,051 (18) | — |
| 2,000-2,999 hrs | $37,011 (52) | — |
| 3,000-3,999 hrs | $32,988 (36) | — |
| 4,000+ hrs | $27,937 (26) | — |
Hours matter more than age for resale value. See our hours vs age analysis.
Where can I buy a T650 or 232B in Canada?
Bobcat T650
None Bobcat T650
2,260 hrs · Hamilton
$44,900 CAD
2015 Bobcat T650
3,837 hrs · Ottawa
$34,000 CAD
2016 Bobcat T650
2,260 hrs · Freelton
$44,900 CAD
2023 Bobcat T650
700 hrs · Brandon
$84,900 CAD
Caterpillar 232B
No active listings right now.
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