Caterpillar

Mehmi Financial Group helps businesses finance and lease Caterpillar equipment, including excavators, wheel loaders, dozers, loaders and motor graders, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Caterpillar units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.

About Caterpillar

Caterpillar is one of the most recognized names in heavy equipment, and Cat machines show up on almost every kind of job: road building, site development, quarries, forestry roads, pipelines and mining. The lineup on our eligible equipment list reflects that range, from motor graders such as the 140 and 14M3 to excavators, dozers, wheel loaders, articulated trucks and mining equipment.

The Cat dealer network in Canada and the USA

Caterpillar sells and supports its equipment through independent dealers. In Canada, Toromont Cat covers Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, and Nunavut. Finning, which describes itself as the world's largest Caterpillar dealer and was established in Canada in 1933, serves Western Canada. In the USA, Cat dealers are organized by region. Both new and certified used Cat equipment, rentals and parts run through these dealers.

Why Cat equipment is generally straightforward to finance

From a lender's point of view, the most important thing about a Cat machine is its resale market. Cat equipment is widely traded through dealers, auctions and private sales across North America, so lenders can usually estimate a used unit's value with confidence. That tends to make it easier to place a used Cat excavator, loader or grader than a less common brand of the same age. The dealer network also matters: service records from a Cat dealer, and inspection or condition reports, give lenders the documentation they want on older units.

What to watch on used Cat equipment

Because Cat machines are often run hard for long hours, lenders pay attention to hours, undercarriage or tire condition and major component history (engine, transmission, final drives). For motor graders, moldboard and circle wear and the grade-control system matter. For mining and large earthmoving units, component rebuild records carry a lot of weight. If you are buying privately, ask the seller for the dealer service history before you apply.

Dealer financing vs comparing lenders

Caterpillar's own finance arm and its dealers may offer programs on new and certified used machines. These can be worth comparing, especially on promotional new units. A brokerage like Mehmi Financial Group can put those offers side by side with banks and independent equipment lenders, which is useful for used machines, private sales, auctions, mixed fleets or when a business does not fit a captive lender's criteria.

How Caterpillar equipment financing works

Most Caterpillar purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.

Caterpillar equipment we help finance

Financing Caterpillar excavators

Excavators are financed for site prep, utilities, demolition and trenching work. Lenders focus on hours, undercarriage wear, hydraulic condition and whether the machine has the right tail swing and attachments for your jobs. Mid-size crawler excavators have deep resale markets, which lenders like, while very large or highly customized units are reviewed more closely. Buckets, thumbs, hydraulic hammers and quick couplers can often be added to the financed amount when they are on the same invoice.

Caterpillar excavators on our eligible equipment list include Caterpillar 301.7 CR Excavator, Caterpillar 301.8 Excavator, Caterpillar 302 CR Excavator and Caterpillar 303.5E2 CR Excavator.

Financing Caterpillar wheel loaders

Wheel loaders are financed for aggregates, snow removal, agriculture, waste and general construction. Lenders weigh hours, tire condition, bucket size and whether the loader is tied to steady work such as a yard, pit or municipal contract. Mid-size loaders resell well, which helps on terms. Tires on large loaders are expensive, so their condition can affect the appraised value.

Caterpillar wheel loaders on our eligible equipment list include Caterpillar 908 Wheel Loader, Caterpillar 914 Wheel Loader, Caterpillar 924 Wheel Loader and Caterpillar 930 Wheel Loader.

Financing Caterpillar dozers

Dozers are financed for earthmoving, land clearing, forestry roads and site preparation. Lenders focus on hours, undercarriage percentage remaining, blade type and GPS or grade-control systems. Undercarriage is a major cost item, so a recent undercarriage inspection is useful. Larger dozers serve narrower markets, so lenders may review them more closely than mid-size units.

Caterpillar dozers on our eligible equipment list include Caterpillar D10 Dozer, Caterpillar D11 Dozer, Caterpillar D11T Dozer and Caterpillar D2 Dozer.

Financing Caterpillar loaders

Loaders are financed for material handling across construction, agriculture and industrial yards. Lenders look at hours, tires or tracks, bucket and attachment packages, and how the machine will be used. Common sizes with broad resale demand are usually simpler to finance than specialized configurations.

Caterpillar loaders on our eligible equipment list include Caterpillar 259D3 Compact Track Loader, Caterpillar 279D3 Compact Track Loader, Caterpillar 289D3 Compact Track Loader and Caterpillar 299D3 Compact Track Loader.

Financing Caterpillar motor graders

Motor graders are financed for road building, maintenance and site work, including municipal and contract road maintenance. Lenders weigh hours, moldboard and circle condition, tires and grade-control systems. Graders tied to multi-year road contracts are generally viewed as stronger files.

Caterpillar motor graders on our eligible equipment list include Caterpillar 12M3 Motor Grader, Caterpillar 140 Motor Grader, Caterpillar 140H Motor Grader and Caterpillar 143H Motor Grader.

What lenders check on a Caterpillar excavator

Lenders look at machine hours, service records, undercarriage or tire condition, and whether the unit is tied to contracts or a steady work program. Used machines with strong resale demand are usually easier to finance than specialized units.

Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and hours, and financial statements or tax returns for larger amounts.

See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.

All Caterpillar models with financing pages

Tax treatment of Caterpillar equipment

In Canada, power-operated movable equipment used to excavate, move, place or compact earth, rock, concrete or asphalt generally falls in CCA Class 38. Confirm the class for your exact asset with your accountant. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.

Is it easier to finance a used Cat machine than other brands?

Often, yes. Cat equipment trades actively through dealers, auctions and private sales, so lenders can usually value a used unit with confidence. Age, hours and condition still decide the terms.

Can I finance a Cat machine bought from Toromont or Finning used inventory?

Yes. Dealer used inventory is one of the simplest deals to finance because the dealer provides an invoice, serial number and often service records. You can compare the dealer's program with outside lenders.

Do lenders want Cat dealer service records?

They help a lot on older machines. Dealer service history, oil sampling results or a condition inspection give the lender evidence that major components have been maintained.

Can I finance a used Cat motor grader for road maintenance contracts?

Yes. Lenders look at hours, moldboard and circle wear, tires and any grade-control system, and a multi-year road maintenance contract usually strengthens the application.

Should I use Cat Financial or compare other lenders?

Compare both. Captive programs can be strong on new or certified used units, while banks and independent lenders may suit private sales, auctions, mixed fleets or businesses outside the captive lender's criteria.

Can large Cat mining equipment be financed?

Yes, but only a small group of lenders handles very large mining assets. Expect detailed review of component rebuild history, operating hours and the mine plan or contract behind the purchase.