So, what are the great questions I've heard from fire departments?
Here are some of the best questions I've ever heard in my career:
- We have a payment budget of X dollars, how can we use that amount the best way?
- How much will it save us to have a shorter financing term within our budget rather than financing longer and plan on paying off early?
- What is the best time of the year to make our payments?
- We have X dollars for a down payment now and will have more next year when the truck finally delivers, so how can use that better?
- We have a loan that pays off in a few years, what can we do to incorporate that change in our budget?
- We estimate that our next large purchase will happen in X years from now, how should we structure our financing now to help make that purchase easier?
Why these are great questionsThey are questions that will help your fire department dramatically. When you are thinking this way, you will pay a lot less for financing (our research shows 22% less!), have more resources for your next truck or purchase, and will leave your fire department financially stronger in the future.
SummaryThe difference between the "have" and "have not" fire departments is in the questions they ask. And the information they receive in the answers to those questions. And what they do with that information. So, start asking the right question to build your department's financial future.
John R. Hill