Fisher Capital Equipment Management - Significant Progress on Dulles Metrorail

Avoid internet scams, get the latest news update from Fisher Capital Equipment Management. Construction of the Dulles Corridor Metrorail Extension project, which is being built near Washington, D.C., is moving forward above and below ground. Crews have made significant progress on the elevated guideway structure that will carry the Metrorail over I-495, the region's primary highway, as well as Tysons Corner, one of the area's most congested business and retail districts. At the same time, a 2400-foot tunnel is being built under the intersection of Route 123 and International Drive as the traffic continues through Tysons Corner, and as the businesses and residents are going about their daily routines.
The progress of the project was highlighted on W-USA 9, a Washington, D.C. area TV station. The report featured interviews with Bechtel construction managers. Watch the video.
Construction of the project began in March 2009, with the signing of a $900 million grant from the U.S. Department of Transportation. The project is being constructed by Dulles Transit Partners, a team of Bechtel and URS, and will include five new Metro stations and 11.5 miles of new track. The project is owned and managed by the Metropolitan Washington Airports Authority.
Fisher Capital Equipment Management - Significant Progress on Dulles Metrorail - Bechtel (BEK tl) is the world's No. 1 choice for engineering, construction, and project management.
Our diverse portfolio encompasses energy, transportation, communications, mining, oil and gas, and government services. We currently have projects in dozens of locations worldwide, from Alaska to Australia. No matter how challenging a project or how remote its location, chances are Bechtel can handle it. That's because we bring an unmatched combination of knowledge, skill, experience, and customer commitment to every job.
We have had record revenues for the past five years, and Engineering News-Record (ENR) has named Bechtel the top U.S. construction contractor for 12 straight years.
While we work for governments and commercial customers, our projects have helped grow local economies and improve the quality of life for communities and people around the world. Time and again our work has demonstrated that the only limits on human achievement are those that we place on ourselves. 
Privately owned with headquarters in San Francisco, we have offices around the world and 49,000 employees. In 2009, we had revenues of $30.8 billion and booked new work valued at $20.3 billion.

What We Do

• Airports and seaports
• Communications networks
• Defense and aerospace facilities
• Environmental cleanup projects
• Fossil and nuclear power plants
• Mines and smelters
• Oil and gas field development
• Pipelines
• Roads and rail systems
• Refineries and petrochemical facilities

Ethics 

Bechtel's culture is grounded in integrity and respect. This means adhering to the highest standards of ethics. Our reputation as an ethical company is one of our most valuable assets. We stand by everything we do.  

Quality

At Bechtel, quality means doing the job right the first time.  We've always delivered quality work, and we are continually striving to improve our performance through Six Sigma and other initiatives.

Safety 

Bechtel has a world-class safety program, and it pays off. Nearly 90 percent of our projects complete each year without a lost-time accident. Our philosophy is simple—every accident, and therefore every injury, is preventable. 

Fisher Capital News: European Union Combats Pollutant Emissions from Non-Road Mobile Machinery

With such close scrutiny on pollutant emissions from road vehicles, what measures are in place to regulate emissions from non-road mobile machinery (NRMM)? Get educated, avoid scam and learn from latest news update from Fisher Capital Equipment Management Leasing.

NRMM refers to any transportable industrial equipment or vehicle with or without bodywork that is not intended to be used to carry goods or passengers on the road, in which an internal combustion engine is installed. This includes any vehicle fitted with a diesel engine and covers numerous construction vehicles and equipment such as excavators, front loaders and compressors.

Do NRMM contribute significantly to pollutant levels?

NRMM are not currently subject to as tight controls as road vehicles and investigations undertaken by the European Commission estimate that off road machinery accounts for approximately a quarter of the emissions of oxides of nitrogen and a third of PM2.5 (particles less than 2.5 micrometers in diameter)  emissions of mobile sources in 2000.

Oxides of nitrogen and particulates are the most significant pollutants emitted by diesel engines and are the two pollutants of most concern to the United Kingdom in terms of air quality. Oxides of nitrogen can have adverse effects on health, particularly among those with respiratory problems. In addition, they contribute to acidification, and to ground level ozone formation. Particulates are also damaging to health, particularly those suffering from cardiovascular and respiratory complaints.

What has been done to control these emissions?

Directive 97/68/EC was passed by the European Parliament and the Council of 16 December 1997 to approximate the laws of Member States relating to measures against the emission of gaseous and particulate pollutants from internal combustion engines to be installed in non-road mobile machinery. Several amendments have been made to this directive including, 2001/63/EC, 2002/88/EC, and 2004/26/EC to include technological advancements and to extend the scope of the directive to cover agricultural and forestry tractors, small spark ignition engines, locomotives and inland waterway vessels. The directive identifies the necessity to control emissions of air pollutants that have recognised health risks such as nitrogen dioxide, particulates – black smoke and other pollutants such as carbon monoxide.

How does it work?

The directive approximates laws of the Member States with regard to emission standards and has established a ''type approval' procedure for engines intended to be fitted to NRMM.  Type approval is a procedure whereby a Member State certifies that an internal combustion engine 'type' or 'family' meets the minimum technical requirements specified in the directive with regards to its level of emission of gaseous and particulate pollutants. Through certification, engine 'types' or 'families' can be approved with the assumption that, as a result of similar design, the expected exhaust emissions will comply with requirements of the directive.

What does this mean for the Construction Industry?

The Mayor of London’s 'Best Practice Guidance' already recommends minimum standards for off-road vehicles associated with increasing numbers of construction sites in London and large high profile demolition and construction sites, more commonly being asked by local planning authorities to specify exhaust emission controls for NRMM within their Construction Environmental Management plans.

In instances where the existing poor air quality exists upgrading NRMM to the latest engine 'type' or 'family', where budget allows,  can not only reduce the impact construction activities have on local air quality but also have climate change benefits through efficient / clean engine technologies.  As an alternative a range of exhaust after-treatment technologies is also available as a retrofit or as an original equipment option. Where upgrading to the latest technology or retrofit is not possible, other simple changes to on-site operations can be made to reduce the impact of NRMM. Such changes as using ultra low sulphur equivalent diesel and routinely maintaining/servicing an engine can hugely reduce levels of pollutants. Moreover, careful consideration of where to locate stationary construction plant equipment such as generators and cranes can also minimise the impact of exhaust emissions i.e. away from pedestrian walkways or areas where members of the public may be exposed for any length of time. A cost effective way that companies with sizeable stocks of NRMM can minimise their impacts on air quality at the most sensitive sites would be to distribute only there newest NRMM to sites with existing air quality issues.

With ever increasing pressure on the construction industry to tighten up their environmental practices, emissions from NRMM should not forgotten and through planned equipment renewal and on-site management companies can help protect the general public and employees against recognised health risks from air pollution and improve their environmental credentials.

Fisher Capital: Save with eLease Construction Equipment Leasing

Leasing construction equipment for your company is a superb choice. Recent industry statistics tell us that well over $3 billion worth of construction equipment is leased each year by companies in the United States alone. Business managers choose to lease construction equipment or get commercial truck leasing because of the inherent advantages offered by leasing, such as superb flexibility, custom payment structures, better asset management, stable cash flow, easy upgrades and flexible end of term options. Not to mention the short processing times, which are generally much faster than that of bank loans? At eLease Equipment Leasing, we have helped thousands of construction companies and contractors lease the necessary equipment for their businesses to succeed. We also offer various forms of business auto leasing as well. Contact us immediately to get experienced advice on financing. Avoid possible scams on equipment lease applications, learn from us. 

Construction Equipment Lease Types

We lease a variety of heavy and construction equipment to our clients. These items have included products as diverse as:

• Backhoes/Bulldozers
• Cranes
• Cement Trucks
• Compactors
• Excavators
• Jackhammers
• Lighting
• Surveying Equipment
• Trucks and Tractors

Construction Equipment Leasing Facts

Leasing enables you to customize a financing program to address your business' cash flow issues, including budgeting, transaction and cyclical fluctuations. Many of our construction company clients require seasonal leases, as an example, which help them to slot payments into their busiest months, and avoid payments during the off-season.

Equipment leasing is an excellent way to grow your business without significant out of pocket expenses. Leasing offers real advantages including better value, more convenience and greater control. In most cases, the full amount of the equipment, as well as the service, shipping, installation costs and maintenance can be included in the lease. This spreads the cost out evenly over the term of the lease freeing up your money to work harder for you. Currently, 35% of all equipment is leased. Learn more about equipment leasing and how it can help your business.

Founded in 1995, Paragon Capital began as a traditional leasing company focused on the high tech industry. Born of a desire to provide a faster, more comprehensive cost effective solution for businesses equipment leasing needs, eLease is a combination of the most powerful leasing brand, the best-of-breed leasing technology of LeaseExchange, and the industry experience of Paragon Capital. eLease's web interface empowers corporations of all sizes to increase the efficiency of their business with instant approvals, documentation and administration using a common Internet browser interface. eLease's application suite provides unprecedented sharing of information and services between leasing parties increasing the time to funding.

eLease's online application enables customers and vendors to dynamically enter an application, receive an instant approval and manage documents online completing the leasing process in minutes instead of weeks. Created on a commitment to speed and service, eLease's technology constantly innovates the leasing process using technology to evolve and improve the services available to businesses in need of equipment finance.

Fisher Capital Management- Financial Market August 2010

Fisher Capital Management- Financial Markets: Sentiment in the financial markets has improved over the past month. The global economic recovery is continuing, so far there have been no sovereign debt defaults, and there has been a modest recovery in the euro. Investors and traders therefore appear to have concluded that the gloom was overdone.

But there has been evidence of a worsening situation in Spain, and the decision by the Chinese authorities to adopt a “more flexible” towards renminbi has also raised some concerns about the growth prospects for the Chinese economy.

Fisher Capital Management- Equity Markets: All the major equity markets, and the emerging markets, have improved over the past month. Wall Street has outperformed markets elsewhere because of some welcome economic data; there have been strong gains in most of the mainland European markets as the sovereign debt crisis has appeared to ease; the UK market has welcomed the measures by the new coalition government to address the problems of the huge UK fiscal deficit; and the Japanese market has also moved slightly higher. Corporate results have been satisfactory; and this has helped to improve sentiment
amongst investors.

Government Bond Markets have had another unusual month. The sovereign debt crisis might have been expected to lead to a general weakness in bond markets; but the main effect has been to produce aggressive switching for the “weaker” markets to the “stronger” ones, and a further widening of the yield curve.

As a result the major markets are unchanged or only slightly lower at a time when the “weaker” markets, especially in Southern Europe, have continued their sharp declines. Slow economic growth and

Low short-term interest rates are continuing to provide support. Currencies: The improvement in sentiment in the markets has led to a movement of funds out of the “safe havens” of the dollar and the yen into commodity-related currencies and “riskier” assets. Both the dollar and the yen are therefore slightly weaker over the
Month; and this movement has also eased some of the pressure on the euro, and allowed it to recover.

Sterling has also improved as the markets have welcomed the measures introduced by the new UK government to reduce the fiscal deficit.

Fisher Capital Management- Short-Term Interest Rates: There have been no changes in short term interest rates over the past month in the major financial markets.

Fisher Capital Management- Commodity markets: have produced a mixed performance over the past month, with some weakness in base metal prices, but strong gains in the prices of cocoa, coffee, oil and precious metals. 

Fisher Capital Management: Government Bond Markets Global Outlook Part2

  Fisher Capital Management

: Government Bond Markets Global Outlook Part 2 - Our position remains unchanged; any existing exposure to bonds should be further reduced in favor of US & Euro equities.

The European Central Bank appears to share this view, although it has warned that the recovery is likely to remain uneven, and has kept short-term rates at very low levels. The bond markets have therefore continued to receive considerable support from the economic background and the actions of the central bank.

Fisher Capital Management Seoul, South Korea: However, these factors have been much less important than the fears about the debt problems in Greece and in other weaker members of the euro-zone. After considerable prevarication, due primarily to strong German opposition to a bail-out; an agreement has been reached amongst the member countries that, in conjunction with the IMF, they will provide support for Greece if this becomes necessary to prevent a defaulton its sovereign debts.

But the details of the agreement are very vague, and there is certainly no guarantee that the country can carry out its promises to introduce significant reductions in spending levels to reduce the size of its debts. The agreement has helped the country to issue a further 5 billion bond; but it was forced to offer an interest rate

of 5.9% on a seven-year bond, 325 basis points above the equivalent German bund, and that issue has subsequently moved to a substantial discount. Conditions have also been made worse by the downgrade in Portugals credit rating, and so the pressures on the bond markets are continuing.

Fisher Capital Management Seoul, South Korea: The gilt edged market has coped fairly well so far with the latest weakness in the bond market, an inadequate response in the latest Budget to the debt problems in the UK, and a warning from the Fitch rating agency that the governments timetable for reducing the fiscal deficit was frankly too slow, and that the countrys credit rating was at risk. The economic recovery remains very slow, and the Bank of England is holding short-term interest rates close to zero, so the market is receiving some support; but in all the circumstances it is perhaps surprising that it has managed to perform so well.

Fisher Capital Management Seoul, South Korea: The economic background in the UK remains depressed, but is slowly improving. Retail sales bounced back strongly; the public sector continued its recruitment programmed; and there has been a pickup in activity in both the manufacturing and service sectors of the economy.

It was not surprising therefore that the Bank of England kept short-term interest rates unchanged at the latest meeting of its Monetary Policy Committee and even suggested that it would be prepared to reactivate its quantitative easing programmed if this proved to be necessary. But this may not be enough to sustain gilt edged prices at current levels.

Fisher Capital Management Seoul, South Korea: The latest Budget statement is forecasting a slightly lower fiscal deficit of 167 billion in the 2009/10 fiscal year, and a halving of the deficit by 2013/14; but there is considerable skepticism in the markets about the growth assumptions underlying the figures, and about the willingness of the politicians to address the real problems
involved in reducing the deficit. If there is no credible plan to achieve this reduction, the country may well lose its AAA credit rating. Prospects have therefore become even more uncertain, and a move to higher yield levels seems unavoidable.

Fisher Capital Management Seoul, South Korea: The Japanese bond market is slightly weaker over the past month. It is likely that this year, for the first time, bond issuance may provide greater support for the fiscal deficit than tax revenues. This has already led to a downgrade on Japanese public debt by Standard and Poors, and with new bond issuance this year estimated to reach 44,300 billion, and to reach 55,300 billion by 2013, further downgrades seem likely. Japanese institutional investors are used to financing massive deficits, but it seems unlikely that deficits of this size can be adequately financed at present yield levels. Prospects for the Japanese market therefore remain unattractive.

David I. Fisher Capital International — International Equity

David I. Fisher is chairman of the board of Capital Group International, Inc. and Capital Guardian Trust Company, a director of The Capital Group Companies, Inc. as well as an officer and director of numerous affiliated companies. He is a portfolio manager for U.S., non-U.S., global and emerging markets assets and has been responsible for our organization's international investing activities since 1982. He joined our organization in 1969 as a financial analyst and was director of research for ten years. Previously, he was an officer of Smith Barney & Co. and a marketing executive with General Electric Company. A graduate of the University of California at Berkeley, he holds an MBA from the University of Missouri Graduate School of Business Administration. Mr. Fisher is a member of the Los Angeles Society of Financial Analysts, as well as the International Society of Security Analysts. In addition to serving as a trustee emeritus of the J. Paul Getty Trust, he serves on the board of trustees for Alternative Living for the Aging, Lowe Institute, Harvard-Westlake School and the UCLA School of Public Affairs. He also serves as an advisory board member of the International Monetary Fund Retirement Plan and the Monetary Authority of Singapore. He is based in Los Angeles. 

Rockland Equipment for Crawler Tractors

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

Rockland equipment for crawler tractors is specifically designed for special applications. This enables you to get more work done and add more value to the bottom line every day. Rockland Manufacturing Company offers more equipment for crawler tractors than any other attachment manufacturer. There are special dozer blades to increase machine efficiency for such diverse applications as pushing coal, land reclamation, dozing woodchips, and landfill dozing. In addition, special size Angle Blades and Semi U-blades are also available when OEM blades are not the right size for your application.

A Rockland wheel tractor attachment is the Rockland Scoop Dozer. The scoop dozer is ideal for continuous dozing applications such as coal and woodchips. Both Rockland Coal Scoops and Rockland Woodchip Scoops have increased dozer productivity on job sites around the world.

Rockland land clearing equipment for dozers is famous for both productivity and years of trouble free operation. Whether it would be land clearing blades or land clearing rakes, Rockland land clearing equipment gets the job done and has proven itself on every continent. If you are clearing land with a Rockland Dozer Blade, a Rockland land clearing rake, Rockland Shear Blade, or a Rockland V-Blade, we will turn your crawler tractor into a true land clearing machine.

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

In the early 60's, Rockland designed and built the world's largest dozer blade. This was a joint venture between Gulf Oil Company, Fiatallis, and Rockland. This sixty foot monster was designed for a reclamation project and was pushed by two powerful HD41 Fiatallis crawler tractors! Click here to see a photo of it leaving our factory.

For over sixty years, we have designed and manufactured construction equipment for dozers, loaders, excavators, and motor graders. Every Rockland product is designed for a specific application and is guaranteed to improve machine productivity.

During those sixty years, Rockland made several unique contributions to the construction equipment industry. We helped prove that wheel loaders could handle shot rock by designing and manufacturing the first spade nose rock bucket ever put in a quarry.

The unique Rockland RF-3 Rake was proven and patented in the late 50's. This was the first land clearing rake to have both reversible and adjustable teeth. We then amazed the construction equipment industry by offering the first lifetime guarantee. We guaranteed the RF-3 for life against any failure from defective design, materials, or workmanship and that even included bent teeth!

Soon after introducing the RF-3, we introduced lifetime warranties for both HDS and HDV rock buckets with the same powerful lifetime coverage against defective design, material, or workmanship.

In the early 60's, we designed and built the world's largest dozer blade. This was a joint venture between Gulf Oil Company, Fiatallis, and Rockland. This sixty foot monster was designed for a reclamation project and was pushed by two powerful HD41 Fiatallis crawler tractorsWe were the very first allied equipment manufacturer to provide a toll free 800 number for our customers. Today, it's accepted practice.

In an industry plagued by broken promises and late deliveries, Rockland was the first, and is still, the only construction equipment manufacturer that puts cash on the line and guarantees ship dates!

During the past decade, Rockland set the standard for excavator thumb design. We were the first to offer narrow thumbs for common sense 3-point pickup. We were the first to offer thumbs ready to install - all that is needed is to weld the mounting plate to the bottom of the stick. We were the first to offer lubricated and sealed pivot points. Then, we were the first to offer a hydraulic thumb with a cylinder rod guard. These were followed by the patented Rockland Thumb Lock that eliminates down drift.

As thumbs for backhoes became more popular, we introduced the Smart Thumb - the world's only rigid strut thumb with hydraulic clamping action that is easily removed or installed in less than a minute.

We also proved to the world that stump splitters don't need to be expensive - we proved that you can split stumps without an expensive auxiliary cylinder, and that all it takes is to use the tremendous force of the curl cylinder to split wood.

This all adds up to the fact that we are a can-do company that has been "doing" for over sixty years. We built our business with an old fashioned commitment to quality and customer service. These comments sum it up:

"We have over forty years experience with Rockland. Their pricing is fair. We've always been amazed at their consistency and dependability. Their after sales support and warranty policies are excellent." - Alabama Dealer

"We insist on Rockland log grapples. We've been using them for over twenty-five years. We tried a few others and found out real quick that low price is really a caution light. We know that Rockland grapples work and if something goes wrong, we can depend on Rockland to give us the support we deserve." - Tennessee Logger

"We've sold Rockland rock buckets for the past several years. We've never had a weld fail or a bucket problem because of poor fit or misalignment. Rockland buckets prove themselves, our customers are well satisfied." - Pennsylvania Dealer

"If a Rockland product doesn't fit, there is something wrong with the machine! - South Carolina Distributor

Fisher Capital News Update On Highway Equipment Company Achieves NTEA’s MVP Status

CEDAR RAPIDS, IA – October 6, 2010 – Highway Equipment Company (HECO), the manufacturer of Hi-Way® road maintenance equipment and New Leader® crop nutrient applicators is pleased to announce the achievement of the National Truck Equipment Association’s (NTEA) Member Verification Program (MVP) status. MVP participants distinguish themselves by embracing the knowledge that is necessary to provide a high level of quality while meeting certain regulatory requirements.

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

The NTEA MVP recognizes distributors, manufacturers and up-fitters for implementing quality business practices and for complying with specific government safety regulations. Criteria to meet the MVP standards can involve liability insurance, warranty programs, vehicle and employee certification, safety policies and quality assurance. By qualifying for the MVP, members can gain an even higher industry designation by verifying their commitment to excellence. MVP companies attest that their firm operates at a defined level of professionalism through the use of quality-minded business practices.

“HECO’s status as an NTEA MVP demonstrates our on-going commitment to safety and professional excellence in the work place,” said Ingrid Livingston, executive director – marketing. “It is our dedication to these factors that allow us to manufacture high-quality products that increase our end-user’s return-on-investment." Since NTEA launched the MVP in 2005, a total of 416 distributor and manufacturer members have qualified for MVP status.

Highway Equipment Company is the leading manufacturer of New Leader crop nutrient applicators and Hi-Way deicing spreaders and road maintenance equipment. The company is committed to building innovative equipment and delivering superior customer service to ensure consistent and reliable experiences for our customers and business partners. 

Highway Equipment Company is the leading manufacturer of Hi-Way deicing spreaders and road maintenance equipment, New Leader agricultural spreaders and Flow Boy processed road building material transportation equipment. Our customer base ranges from municipalities and contractors to agricultural custom applicators and growers. We also produce products for many original equipment manufacturers.

For nearly 70 years, our goal has been to build the highest quality equipment to the most exacting specifications and expectations. Every component of every product we offer is carefully designed to last. By using heavier gauge steel, high end components, a superior paint system and consistent manufacturing processes, our quality shines through in everything we produce. And, most of the products are designed and modified by our in-house engineering department.

Our philosophy of "building the best" also extends to our large network of dealers. Each authorized dealer has been fully trained to provide a total sales and service experience for the customer. An on-site training center is dedicated specifically to sales and service training.

For more information, please contact your local dealer or company representative.

Established in 1939, Highway Equipment Company is a leading manufacturer of New Leader® crop nutrient applicators for the agricultural industry, and Hi-Way® deicing spreaders and road maintenance equipment for state, federal, and municipal entities, as well as for private contractors. New Leader and Hi-Way products are distributed through more than 200 dealers throughout North America and around the world. Highway. Equipment Company is a privately owned business located in Cedar Rapids, Iowa. For more information please visit our web site at www.highwayequipment.com.

Lease Scams

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

Let's be direct. Unsolicited, "Pre-Qualified credit line" mass mailings are unethical at best.  You know the pitch: "Because of your excellent Dun & Bradstreet rating your company has been selected to receive a $75,000 leasing line of credit!  Just call your customer Service Rep to activate your line".

When you call you are congratulated and then faxed a "membership confirmation form."  You are told to start selecting equipment from vendors of your choice, arrange for delivery and let the vendor know that you are pre-approved by the leasing company.

What are the problems here?  In no certain order, the problems are:

Your company is NOT pre-approved.  The "membership confirmation" is nothing but a credit application.

The rate or payment per month can (and often does) change because of something on your credit report even though you were pre-qualified.

There is now an extortive effect: the equipment is about to be delivered, and you must go along with the high price (or other unpleasant terms), or have to admit to the vendor that your being "pre-approved" was not accurate -- there's a question about your credit.

There are many scams and unfair practices that are all too common in the finance industry (See "What to watch for," below.).  The mailing list "Pre-Approver" has given you a signal that he is prone to dishonesty.  Be Aware.

We recently received a call from an entrepreneur who has been trying to clean up his credit report.  This fellow has paid off all but $20,000 of a quarter million in delinquencies, charge-offs, and a judgement, in spite of his attorney’s telling him to just go bankrupt.  I like this guy.  He chose to do the right thing.  But he is not ready to be approved at anything like a reasonable rate.  What's the damage?  Not only did the "Pre-approver" unrealistically raise his hopes and then humiliate him to the three vendors from whom he wanted to acquire equipment, they also "shot-gunned" his application to other leasing companies (apparently trying to broker the deal).  This actually created unnecessary "inquiries" on his credit report, making it worse than it would have been.  

What to Watch For? What can be misrepresented?  The list is long, but here is the simple key to most problems: Verbal assurances are meaningless if they are not written into your lease.  Or, as one industry wit says, "If it's not in the contract, it's not in the deal."

EXAMPLES:

 "blah, blah, blah...and then you own the equipment."  Yeah, sure!  If you do not have a documented one-dollar purchase option - either in the lease or as a separate document, you can look forward to paying anywhere from ten to fifty percent of the original cost of the equipment to purchase it at the end.  What's that? You want to fight it? Monthly rental payments will continue while you are fighting that losing battle.  You MUST make sure BEFORE you sign a lease that the purchase option you negotiated is in binding written form.  By the way, be certain that there are no unreasonable purchase option terms, such as "...you must notify us 90 days before the end of the lease or your lease renews and you must make payments for an additional one year period.

"...and the interest rate is only _____." (Fill in the blank).  A leasing company rep can be held to monthly payment, number of months, purchase option, documentation fee, total dollar amount of finance cost, and number of advance payments.  He cannot be held to the interest rate because it does not appear in the contract.  At Keystone Equipment Leasing, Inc., we encourage comparison shopping.  But compare the things that are in the contract. It is the only way to do an apples-to-apples analysis.  Interest rate formulas are complex things (even Albert Einstein is reputed to have been fascinated) and few people can work it backwards.  At least if you work out several lease quotes yourself, you'll be using the same formula for each to see who has the best deal.  Note:  For the past two decadess we have been offering lunch at the best restaurant in the customer's town if we could not prove that the "interest-rate" quote for any leasing company was inaccurate.  Still no winners.  If you have a few quotes with payment amount and terms, you will be doing the best you can -- and we at Keystone will win your business almost every time.

Advance Rentals vs. Security Deposits:  Advance rentals are usually applied to the first monthly payment and the last one or two payments. Security deposit application is dependent on the ethics of the leasing company.  Is it refundable? Can it be used for the last couple of payments? Is it in addition to a first month's rental. (That would make a two advance payment deal into a three advance payment deal.)

"Is there an early buy-out or pre-payment penalty? Absolutely not!" says the glib lease salesman.  I am reminded of the software engineers' advice: "When all else fails, RTFM (read the manual)."  These contracts are non-cancelable.  A decent leasing company will allow you to discount the accelerated payments at a reasonable rate.  A bad one will allow you to write a check for all of the remaining payments on your lease without adding a penalty payment, and that IS a penalty. You are paying early, without any rebate of the finance charges.