Bobcat T650 vs Caterpillar 232B2: Which Is the Better Value?
The Bobcat T650 averages $34,259 CAD at auction, compared to $11,328 for the Caterpillar 232B2. That's a $22,930 difference. Based on 145 verified Canadian auction results tracked by TrackCheck, here's the full breakdown.
The Verdict
The Caterpillar 232B2 is the better value buy for most Canadian buyers, averaging $22,930 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 232B2
SSL$11,328 CAD avg
$11,233
Low
$11,424
High
2
Sales
Avg 1,940 hours · 2008–2008 model years
Full price guide →How do T650 and 232B2 specs compare?
| Spec | Bobcat T650 | Caterpillar 232B2 |
|---|---|---|
| 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 232B2?
- Price: The 232B2 is $22,930 cheaper on average (67% savings).
- Usage: Used T650s average 3,044 hours while 232B2s average 1,940 hours.
Both Bobcat and Caterpillar retain value well. See our depreciation guide for brand rankings.
Looking for a T650 or 232B2? Check current listings with Deal Scores.
Which is the better value: T650 or 232B2?
Choose the Bobcat T650 if:
- You prefer Bobcat's dealer network and parts availability
Choose the Caterpillar 232B2 if:
- You want lower upfront cost ($22,930 savings)
- You prefer Caterpillar's dealer network and parts availability
How do T650 and 232B2 prices compare by year?
| Year | Bobcat T650 | Caterpillar 232B2 |
|---|---|---|
| 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) | — |
| 2008 | — | $11,328 (2) |
Prices in CAD. Numbers in parentheses are sample size. Lower price highlighted.
How do T650 and 232B2 prices compare by hours?
| Hours | Bobcat T650 | Caterpillar 232B2 |
|---|---|---|
| 0-999 hrs | $51,998 (2) | — |
| 1,000-1,999 hrs | $48,051 (18) | $11,328 (2) |
| 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 232B2 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 232B2
No active listings right now.
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