The Quot scheme of points $\mathrm{Quot}_{d,n}(X)$ on a variety $X$ over a field $k$ parametrizes quotient sheaves of $\mathcal{O}_X^{\oplus d}$ of zero-dimensional support and length $n$. It is a rank-$d$ generalization of the Hilbert scheme of $n$ points. When $X$ is a reduced curve with only the cusp singularity $\{x^2=y^3\}$ and $d\geq 0$ is fixed, the generating series for the motives of $\mathrm{Quot}_{d,n}(X)$ in the Grothendieck ring of varieties is studied via Gr\"obner bases, and shown to be rational. Moreover, the generating series is computed explicitly when $d\leq 3$. The computational results exhibit surprising patterns (despite the fact that the category of finite length coherent modules over a cusp is wild), which not only enable us to conjecture the exact form of the generating series for all $d$, but also suggest a general functional equation whose $d=1$ case is the classical functional equation of the motivic zeta function known for any Gorenstein curve. As another side of the story, Quot schemes are related to the Cohen--Lenstra series. The Cohen--Lenstra series encodes the count of "commuting matrix points'' (or equivalently, coherent modules of finite length) of a variety over a finite field, about which Huang formuated a "rationality'' conjecture for singular curves. We prove a general formula that expresses the Cohen--Lenstra series in terms of the motives of the (punctual) Quot schemes, which together with our main rationality theorem, provides positive evidence for Huang's conjecture for the cusp.