Complete Lease: A Lower-Cost Equipment Lease Agreement

Take control of your costs with this all-in-one heavy equipment leasing agreement. The Complete Lease from Cat Financial saves you money. How? By packaging an operating lease with preventative maintenance and extended protection. And it’s flexible: add hours or purchase the machine any time during your lease term.

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Published: Jul 18, 2023

A lower-cost alternative to acquiring new or used equipment. Cat Financial’s Complete Lease packages a Cat^® machine with maintenance and protection to help save you money.

EQUIPMENT LEASE + MAINTENANCE + PROTECTION: ALL FOR ONE LOW MONTHLY PAYMENT

Did you know there’s a simple, flexible way to take control of your machine costs? The Complete Lease from Cat Financial combines an operating lease with two additional components:

Customer Value Agreement (CVA): A CVA makes maintaining equipment easy, helping prevent failures and increase uptime throughout the length of your lease. With a CVA, you can count on a personalized preventative maintenance schedule, genuine Cat parts delivered on time, the security of dealer support and peace of mind with machine health monitoring.
Equipment Protection Plan (EPP): EPP provides coverage after the standard machine warranty expires. It protects you from unplanned repair costs caused by defects in Cat material or workmanship. Certified Cat dealer technicians handle all covered repairs to bring your machine back to correct operating specifications using only genuine Cat parts.

What’s the benefit of packaging your operating lease with CVA and EPP for the full term? You can receive a reduced monthly lease payment,* which can save you money and making budgeting easier compared to paying individually for an operating lease, maintenance and protection. And the Complete Lease offers more flexibility than other types of equipment leases. Keep reading for more details.

FIRST THINGS FIRST: IS HEAVY EQUIPMENT LEASING RIGHT FOR YOU?

Which is better for your business: construction equipment leasing or financing? There are pros and cons to both options.

Leasing makes sense when you need a machine for a short time or specific project. Monthly lease payments are typically lower than loan payments, which frees up cash for other needs. You also take on less risk than owning equipment. And heavy equipment leasing lets you try new features and technologies before you buy. With Cat Financial, qualified customers can lease heavy equipment for as short as 24 months and up to 60 months.

This Loan or Lease comparison provides a more in-depth look at the differences. Another helpful resource is this guide to the four different ways to acquire heavy equipment. You may also want to crunch your numbers with this affordability calculator as you make your decision.

OPERATING LEASE OR COMPLETE LEASE: WHAT’S THE DIFFERENCE

Did you decide leasing is the right fit for your business? Next, you’ll want to compare the Complete Lease to a traditional operating lease. Why choose one versus the other?

The Complete Lease is a smart choice if:

You want to save money. You can add preventative maintenance and protection to a traditional operating lease, but only the Complete Lease offers a reduced monthly lease payment when you package an operating lease with a CVA and EPP for the full term of the lease.*
You want to purchase additional machine hours. You can conveniently add hours once during your Complete Lease term if you expect to exceed your allotted hour amount.** That’s not possible with a traditional operating lease.
You want to purchase the machine at any time. With a traditional operating lease, qualified customers must wait until there are 90 days or less left on the agreement to purchase the machine. The Complete Lease allows you to take advantage of the built-in flexibility by giving you the option to purchase the machine at any time during your lease. Or you can choose to return the equipment or extend your lease agreement.

The Complete Lease is available for qualified customers on new and used Cat machines with terms from 24 months up to 60 months or more.** Subject to credit approval from Cat Financial. Not all customers will qualify.

TOP 3 ADVANTAGES OF THE COMPLETE LEASE

Lower Costs: The Complete Lease offers the lowest monthly payment of all our construction equipment leasing options from Cat Financial when preventative maintenance and protection are included for the full lease term. Plus, qualified customers aren’t required to put money down. That means more cash on hand to run your business.
Simplified Budgeting: One monthly payment covers your machine, CVA and EPP. You lock in parts and labor costs now — a hedge against inflation. And you’re protected from unexpected repair costs for your entire equipment lease agreement.
Built-in Flexibility: We understand your needs can change. That’s why we’ve incorporated flexibility into the Complete Lease. Add machine hours once during your lease, purchase the machine at any time or return it at lease-end.

There’s also flexibility in how you pay for the CVA and EPP:

Include with Operating Lease: Combine the CVA and EPP cost with the operating lease to spread out their cost over the length of the lease in one convenient monthly payment. This option can help preserve your cash flow and free up capital for other business needs.
Cat Card: The easy way to pay for parts, service, protection and more. With this revolving line of credit just for Cat equipment owners, you can buy the CVA and EPP up front, make low monthly payments, then pay in full when your finances allow. Eligible Cat Card customers are also automatically enrolled in Cat Vantage Rewards*** and could earn reward points on the CVA and EPP purchase. Get Details.
Cash: Pay in full with one simple transaction if you’ve got the capital available. Then your monthly payments will only include the operating lease.

FINANCING OPTIONS BEYOND THE COMPLETE LEASE

Cat Financial offers other types of equipment leases too, including traditional operating leases and finance leases. You can also finance equipment with a loan or rent equipment. Use this Equipment Financing Guide to compare each option side by side.

WHY CHOOSE CAT FINANCIAL OVER OTHER EQUIPMENT LEASING COMPANIES?

There are plenty of equipment leasing companies for you to choose from, but Cat Financial is the only one that develops financial solutions for the unique needs of Caterpillar customers. We tailor our equipment lease agreements to your Cat machine and industry. We know what your equipment is worth. And we understand how much you invest to keep machines running.

We also make it simple for you to get what you need. Applying for heavy equipment leasing is quick and easy. Here’s a look at the credit requirements equipment leasing companies take into consideration. You may qualify for 100% financing. Or you may retain the tax benefits of ownership in some cases.

READY TO TAKE CONTROL OF YOUR HEAVY EQUIPMENT LEASING COSTS?

We’re ready to help — with the Complete Lease and other types of equipment leases. Get the process started here or contact your local Cat dealer.

Disclaimers

^{*The reduced monthly payment is only available for Complete Leases with terms of 36 months or longer.}
^{**Customers can purchase up to an additional 250hrs (for machine usage) per year of the lease term (e.g. – up to 750hrs on a 3-year lease). This incremental bucket can be purchased with cash, one-time-only, is non-refundable, and must be purchased in blocks of 250 hrs. All purchases must be made more than 180 days prior to the lease termination.}
^{***See cat.com/catcardrewards for eligibility, details, and terms and conditions.}

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Complete Lease: A Lower-Cost Equipment Lease Agreement

EQUIPMENT LEASE + MAINTENANCE + PROTECTION: ALL FOR ONE LOW MONTHLY PAYMENT

FIRST THINGS FIRST: IS HEAVY EQUIPMENT LEASING RIGHT FOR YOU?