Get the most out of your equipment investment
Let us help you find a total financial solution through Cat® Financial. Whatever your equipment needs: construction, mining, demolition and scrap, or more, we can help you expedite your purchase and get your equipment on the job fast.
You have questions, we have answers
We know that making an equipment purchase is a huge investment – one that you don’t take lightly. That’s why we welcome questions of all shapes and sizes, so that you know all of the information up front in order to make an informed buying decision. We can help you answer:
- How can I afford to purchase Caterpillar equipment?
- How much do I need for a down payment?
- What can I afford on a monthly basis?
- What is the value of my trade-in?
- How will this affect my banking relationship?
- What is the cost of borrowing?
- What is my long-term equipment replacement strategy?
Which Option is Best?
To help you select the right financing option, we work to understand your individual business needs. Then we structure a plan that fits those needs — whether it’s helping you meet cash flow requirements, freeing up existing bank lines for other purchases, or arranging a variable payment schedule. No matter what the situation, we work with you to help you prosper. Click on the plus sign to learn more about our financing options.
If you have cash available, then a cash purchase with funds provided from working capital is normally the least costly method of acquiring equipment. When you make a cash purchase, service fees and interest costs are eliminated for the buyer, providing the lowest total cost. Although outright purchases may initially be less expensive, we encourage you to consider all financial options for your business. After all, taking advantage of financing options might free up working capital to be used for other business development rather than the purchase of a piece of equipment.
A finance purchase is normally referred to as a Conditional Sales Contract. This type of purchase plan has limited cash outlay in the form of a down payment. The buyer takes the depreciation benefits, and owns the machine at the end of the financed term.
Leasing provides the use of equipment over a specified period of time, without any transfer of ownership. You "pay for what you use" and you can be granted with an option to purchase the equipment at the end of the lease term. A properly structured lease can provide many financial advantages to the lessee. It can free working capital for other investments while not affecting the customer's borrowing power or credit line. Lease payments may also provide a tax deductible business expense, reducing tax liabilities. Finally, leasing simplifies budgeting, bookkeeping and accounting because it greatly reduces paperwork and administrative requirements.
Patten Cat equipment rental programs offer many of the same advantages or benefits of lease programs, with three major distinguishing characteristics:
- The contract period for rental provides complete flexibility, with contract periods as brief as a day, week or month up to one year. It is important to note that as rental terms extend, the economic benefits diminish.
- Rental equipment includes the provision for maintenance unless special provisions are made to the contrary.
- Rental provides an inexpensive means to try a new piece of equipment without a long-term commitment.
Finance your Cat Truck and body attachments as well as complementary equipment, with our competitive loan and lease options. Choose from:
- Installment Sale Contracts for immediate ownership
- TRAC Leases
- Provides flexibility, a higher end-of-term purchase amount results in lower monthly payments
- Offers a potential tax deduction for the entire amount of monthly payment
- Available in both on-and-off balance sheet financing structures
- May help improve balance sheets and financial ratios
To take advantage of our on-line applications, download one of the following documents and submit the completed form with attention to our Credit Department by fax or email: