Fire Truck Financing & Leasing: RFP mistake #4
The goal of every RFP I’ve seen is to provide the best financing option. So, why do those RFP’s almost always hurt rather than help?RFP mistake #4If you asked for the information based on the last three weeks of suggestions, you really won’t make a mistake. You’ll have the data to easily avoid this mistake.The final mistake is to not compare proposals on an equal basis.
Fire Truck Financing & Leasing: RFP mistake #3
The goal of every RFP I’ve seen is to provide the best financing option. So, why do those RFP’s almost always hurt rather than help?RFP mistake #3Most departments fail to request information that will provide consistent and comparable proposals.After your department has determined the exact financing term that fits your situation, a high quality proposal should require the following information:
Fire Truck Financing & Leasing: RFP mistake #2
The goal of every RFP I’ve seen is to provide the best financing option. So, why do those RFP’s almost always hurt rather than help?RFP mistake #2Most departments don’t have the experience to ask for the financial reporting they really want
Fire Truck Financing & Leasing: RFP mistake #1
The goal of every RFP I’ve seen is to provide the best financing option. So, why do those RFP’s almost always hurt rather than help?RFP mistake #1The biggest mistake I see every day is most financing RFP’s are designed to gather information rather than actually solicit responsive and effective bids.Most financing RFP’s ask for best interest rate on one or maybe a few different years (i.e., 5, 7
Fire Truck Refinancing: How to not blow a lot of money
Last week we showed how one department refinanced their aerial loan, lowered their rate, and wasted over $62,000.This week, we’ll show you what they could have done smarter and would have saved them money.BackgroundThe Department lowered their rate by almost 2% but paid almost $68,000 in fees for the new loan. These fees wiped out any savings from the lower rate. The refinancing bank was only
Fire Truck Leasing: How to save money – Part 7
Most departments get the wrong information in trying to save money for a lease or a loan for their fire truck. They want to know how to save $$$ but they only ask about the %.We advised that Total Borrowing Cost is the best method to compare financing offers. Now, how do we use Total Borrowing Cost to save money?All facts are not the truthEveryone knows to ask about the interest rate, but can
Fire Truck Leasing: How to save money – Part 6
Most departments get the wrong information in trying to save money for a lease or a loan for their fire truck. They want to know how to save $$$ but they only ask about the %.We advised that Total Borrowing Cost is the best method to compare financing offers.
Fire Truck Leasing: How to save money – Part 5
Most departments get the wrong information in trying to save money for a lease or a loan for their fire truck. They want to know how to save $$$ but they only ask about the %.We advised that Total Borrowing Cost is the best method to compare financing offers.
Fire Truck Leasing: How to save money – Part 2
Most departments get the wrong information in trying to save money for a lease or a loan for their fire truck. They want to know how to save $$$ but they only ask about the %.Here’s the information to save the most moneyWhen receiving fire truck lease or loan financing offers, request the Total Borrowing Cost. This is the total amount you’ll pay to finance your fire truck.It should include
FIre Truck Leasing: How to save money – Part 1
Most departments get the wrong information in trying to save money for a lease or a loan for their fire truck.