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.
Fire Department: Economic forecast – Part 4
A final and arguably the largest factor affecting the housing market is employment. Or unemployment or underemployment.When people don’t have jobs or earn what they should, they will not make major purchases like homes.Since fire department revenues are closely matched in some way with housing prices, a continued high unemployment rate will drag on housing and therefore, fire department revenues
Fire Department: Economic forecast – Part 1
It’s no secret that economic troubles are front and center right now.But, how long will this last? And what does experts say about the situation?Be prepared for a sustained downturnMost departments are funded by some form of income related to property values.
Fire Truck Turn-in & Trade-in leases – Myth Summary
I’ve seen a resurgence in departments considering turn-in, trade-in, or walk-away leases. There are a lot of myths out there and we’ll explore a few.Myth #1 – They are more flexibleThey are , in fact, less flexible. In these type of financing contracts, you are obligating yourself to more terms and conditions.
Fire Truck Turn-in & Trade-in leases – Myth #2
I’ve seen a resurgence in departments considering turn-in, trade-in, or walk-away leases.