Caterpillar 304 Financing Calculator
mini excavators · Est. Market Price $62,000 · More Caterpillar financing
Updated Cross-checked against 2 government/public rate sources
The Caterpillar 304 pairs a 50hp engine and 8,950 lb operating weight, placing it in the compact-class tier of the mini excavators market.
Compared against every other mini excavators page on this site, the Caterpillar 304's 50hp puts it at the lighter-duty end of the horsepower range for mini excavators models tracked here. By operating weight, it comes in at 4% of the heaviest mini excavators model in this dataset.
This $62,000 304 runs as a 60-month $1-buyout capital lease in our model: 8.25% estimated APR puts the payment at $1,280/mo, ending in outright ownership rather than a residual payoff. For financing at this level, lenders typically treat this price band as low-risk, which tends to translate into faster approval turnaround. Across the full 60-month term, total payments come to $76,792 — about $14,792 above the $62,000 cash price, which is the real cost of financing instead of paying up front.
At an estimated $1,280/month, this ties for #15 of 35 by estimated payment (tied with 1 other currently priced mini excavators model at this exact price point) — 14% below the mini excavators average of $1,491/mo.
Because 100% bonus depreciation is currently in effect (equipment placed in service after January 19, 2025) and this asset qualifies under Section 179's $2,560,000 2026 cap, the full $62,000 cost is a candidate for a first-year deduction rather than a multi-year depreciation schedule -- the actual benefit depends on the buyer's taxable income, so this isn't a substitute for a CPA's sign-off.
Estimated Monthly Payment
Estimated Commercial APR including doc/origination fees. Adjust the slider to personalize the rate for your credit tier.
$1,279.86/mo
Base APR: 8.25% · 60 months
| Month | Payment | Principal | Interest | Balance |
|---|
Section 179 Tax Deduction Matrix
Estimates for illustrative purposes only. Consult a certified CPA to determine actual Section 179 depreciation. Source: IRS Publication 946 .
| Estimated Equipment Price | $62,000 |
| 2026 Section 179 Cap | $2,560,000 |
| Eligible Deduction | $62,000 |
| Federal Corporate Tax Rate | 21% |
| Estimated Tax Savings | $13,020 |
| Effective After-Tax Cost | $48,980 |
Asset Specifications
| Make | Caterpillar |
| Model | 304 |
| Category | heavy-construction |
| Subcategory | mini excavators |
| Horsepower | 50 hp |
| Operating Weight | 8,950 lbs |
| Estimated Market Price | $62,000 |
| Fuel Tank Capacity (gal) | 17 |
Real-World Market Reference
2 independent government sources currently reference this machine — not our own estimate.
| DOT Rental Rate | $48.75/hrCalifornia DOT equipment rental rate schedule, effective 01-APR-2026 |
| Vendor Rental Rate | $450.00/dayWashington State DES equipment rental contract (vendor: NCMachinery) |
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Frequently Asked Questions
What is the estimated monthly payment for a financed Caterpillar 304?
An estimated $1279.86/month over 60 months at a base APR of 8.25%, including a $750.00 doc/origination fee.
Does the estimated payment change based on credit score?
Yes. The calculator above has 5 credit tiers, each adjusting this machine's 8.25% base APR: Subprime 12.75%, Fair 10.75%, Good 8.25%, Very Good 7.50%, Prime 6.75%. "Good" is the default tier shown; drag the slider to see the exact payment at your tier.
Is the Caterpillar 304 eligible for a Section 179 tax deduction?
Yes. Under the 2026 Section 179 cap of $2,560,000, qualifying businesses may be able to deduct the full purchase price in the year it's placed in service, subject to CPA verification.
Does 100% bonus depreciation apply to a financed Caterpillar 304?
Bonus depreciation was restored to 100% for equipment placed in service after January 19, 2025, and it applies more broadly than Section 179 -- it isn't capped by the $2,560,000 Section 179 limit and generally isn't affected by a business's Section 179-eligible income limit. Financing rather than paying cash doesn't disqualify a purchase from this: the full $62,000 placed-in-service cost is typically what counts, not the amount actually paid that year. Confirm applicability with a CPA before filing.
What's the total cost of financing this Caterpillar 304 versus paying cash?
Over the full 60-month term, estimated payments total $76,792 -- about $14,792 more than the $62,000 cash price. That difference is the estimated cost of financing (interest plus the $750.00 doc fee) rather than paying up front.
How much would a down payment lower the monthly payment on this Caterpillar 304?
Putting 10% down ($6,200 on this Caterpillar 304) reduces the estimated payment from $1,280/mo to roughly $1,153/mo at the same 8.25% estimated APR -- a real reduction, since a down payment lowers the amount actually financed rather than just the sticker price.
What is the typical resale or auction value for a Caterpillar 304?
Resale value data is not yet available for this specific model.
What does a Caterpillar 304 rent for?
Current public rate records put this machine at $48.75/hour (California DOT equipment rental rate schedule) and $450.00/day (Washington State DES equipment rental contract (vendor: NCMachinery)) — real published rates, not our own estimate.
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