customers on a jobsite
customers on a jobsite

Equipment Financing Options:
A Step-By-Step Guide

Do you know your payment options for Cat® equipment, parts and services? Get a loan or lease to acquire equipment. Package it with extended protection or a Customer Value Agreement for maximum convenience. Pay for parts, attachments, rentals, repairs, rebuilds and more with the Cat Card. Get the details on all your options and when to use them.

STEP ONE: FINANCING OPTIONS TO ACQUIRE EQUIPMENT

When you need machines, choose an equipment loan, equipment finance lease or equipment operating lease. You can also rent equipment. Use our affordability and payment calculators and these tips for ways to save on heavy equipment to help guide your decision.

Swipe right to left to view additional options.

EQUIPMENT
LOAN
EQUIPMENT
FINANCE LEASE
EQUIPMENT
OPERATING LEASE
EQUIPMENT
RENTAL

What’s the #1 advantage of this option?

You build equity quickly and it’s the least expensive path to ownership other than a cash purchase.

You pay a lower monthly amount and get the option of equipment ownership.

You pay the lowest monthly amount for equipment and save capital by spreading payments out over a period of time.

You get maximum flexibility when you need equipment short term.

Who owns the equipment?

You own the machine immeditately at the end of your contract only if all payments are complete.

You own the equipment and can choose a bargain purchase option to reduce your payment. You also have the option to return equipment at lease-end.*

We own the equipment, but you have the option to purchase it at fair market value or predetermined option amount at lease-end.*

The rental provider owns the equipment, but there may be a rent-to-own option.

Am I building equity with my equipment?

Yes — you can build equity the fastest with this option.*

Yes — but equity buildup is slower than an equipment loan.*

No — there’s no equity buildup.

No — there’s no equity buildup.

Who benefits from tax depreciation on the equipment?

You take the depreciation.

You can choose to take the depreciation.

We take the depreciation.

The rental provider takes the depreciation.

How high or low is my equipment payment?

Monthly payments are typically higher than an equipment lease or short-term rental.

Monthly payments are typically lower than an equipment loan or short-term rental but not as low as an operating lease.

Monthly payments are typically lower than an equipment loan or finance lease.

Monthly payments are typically lower than a loan or lease, but higher than an operating lease. The Cat® Card can spread costs out, but the full payment is due in the next billing cycle.

Is there contract flexibility?

Yes — qualified customers can choose from different term lengths and schedule payments monthly, quarterly, semi-annually or annually.*

Yes — qualified customers can choose from different term lengths and schedule payments monthly, quarterly, semi-annually or annually. Plus qualified customers can easily modify their lease contracts as needed.*

Some — qualified customers can choose from different term lengths but pay monthly (we may consider other payment schedules).*

Yes — renting equipment with the Cat Card provides the most flexibility for payment options with a line of credit.*

Are there early payoff restrictions?

No — you’re not penalized for paying off an equipment loan early.

No — you’re not penalized for paying off a finance lease early and you can pay off at any time.*

No — you can pay the remainder of an operating lease off at any time at the casualty or fair market value.

No — because you only pay for the equipment for the length of the rental agreement.

Who pays personal property tax on the equipment?

You pay property tax (varies by state).

You pay property tax (varies by state).

We pay property tax, then invoice you.

The rental provider pays property tax.

Who is responsible for equipment maintenance and service?

You are responsible during the loan and once you become the owner. An Equipment Protection Plan (EPP) and Customer Value Agreement (CVA) can help you budget and lock in these costs.

You are responsible for keeping the machine in good working order. Avoid non-compliance charges with an EPP and CVA.

You are responsible for keeping the machine in good working order. Avoid non-compliance charges with an EPP and CVA.

The equipment rental provider handles maintenance and service during your rental period, but these costs are likely factored into your rental payment.

What’s the next step?

Apply for an Equipment Loan.

Request a quote for an  Equipment Finance Lease.

Request a quote for an Equipment Operating Lease.

Apply for the Cat Card today or find The Cat Rental Store near you.

*terms and conditions apply.

STEP TWO: PACKAGING EQUIPMENT WITH MAINTENANCE AND PROTECTION

Once you’ve acquired equipment, how will you maintain and protect it? We make it easy to package your equipment loan or lease with these options in one convenient monthly payment:

  • Extended Protection: Add coverage beyond the standard warranty, manage risk and protect your investment. We offer Equipment Protection Plans for new, used or rebuilt machines. Extended Service Coverage is available for engines and power systems. You can choose from multiple coverage options to fit your needs and budget.
  • Customer Value Agreement: Get more from your equipment with a hassle-free ownership and maintenance plan. Cat CVA by Cat Financial includes equipment health management along with genuine Cat parts delivered on time for maintenance. A CVA helps ensure your equipment is easy to own and ready to work.
of
MAINTENANCE & PROTECTION

STEP THREE: FINANCING OPTIONS FOR PARTS AND SERVICES

After you put your equipment to work, pay for parts and services with the Cat Card. Use it at Cat dealers, The Cat Rental Stores or on Parts.Cat.Com to pay for:

Parts, engines, attachments and work tools

Parts, engines, attachments and work tools

Repairs and Rebuilds

Repairs and rebuilds

Rental equipment

Rental equipment

Protection and service plans

Protection and service plans
  • Parts, engines, attachments and work tools
  • Repairs and rebuilds
  • Rental equipment
  • Protection and service plans

You receive one monthly bill for all your charges — pay it off in full or pay down the balance as cash flow allows. Bonus: You earn rewards on every qualifying purchase* you make with your Cat Card and get access to special offers on parts and services.

Apply for the Cat Card

* See cat.com/catcardrewards for eligibility, details, and terms and conditions.

4 WAYS TO ACQUIRE HEAVY EQUIPMENT

Explore the advantages and disadvantages of various options: cash purchase, financing, leasing and renting.

SEE MY OPTIONS
customers on a jbsite, ne in a wheelchair
customers on a jbsite, ne in a wheelchair

Apply for Financing

A Cat equipment credit application is simple.
Just complete three easy steps.

Apply Now
special offers
special offers