Receive one statement monthly that covers all transactions made during that period. A minimum payment of 10% (revolving) of the account balance plus interest is due each payment cycle, or pay in full without interest charges. Rental charges are due in full by the due date. As with all statement billing methods, payments are applied to the oldest outstanding balance.
As with all statement billing methods payments are applied to the oldest outstanding balance. This option allows one statement, one account with flexible terms, no matter where you do your Caterpillar business.
Your monthly statement also shows a breakdown of any special financing offers you have transacted (see example).
The date the transaction occurred (1) the original amount (2) the current balance (3) the installment number (4) and the installment amount due (5) is listed. This makes it easy to track and know when your special financing terms will expire.
Ready to get started? Apply online for a Cat Financial Commercial account today.