Cross sections for $^{40}$Ca + $alpha$ at low energies have been calculated from two different models and three different $alpha$-nucleus potentials. The first model determines the cross sections from the barrier transmission in a real nuclear potential. Second, cross sections are derived within the optical model using a complex nuclear potential. The excitation functions from barrier transmission are smooth whereas the excitation functions from the optical model show a significant sensitivity to the chosen imaginary potential. Cross sections far below the Coulomb barrier are lower from barrier transmission than from the optical model. This difference is explained by additional absorption in the tail of the imaginary part of the potential in the optical model. At higher energies the calculations from the two models and all $alpha$-nucleus potentials converge. Finally, in contradiction to another recent study where a double-folding potential failed in a WKB calculation, the applicability of double-folding potentials for $^{40}$Ca + $alpha$ at low energies is clearly confirmed in the present analysis for the simple barrier transmission model and for the full optical model calculation.