Mistakes happen because most fire departments mix up the the questions and they get jumbled answers. So they use bad information to make critical decisions.
The 2 answers are:
- What is the best way to finance this truck?
- Who is the best person to finance this truck?
Most departments call around and ask for the "best rate" or "best deal" from a handful of banks and then choose based on this limited analysis.
So, the department is forced to accept whatever terms are offered and who to finance is chosen based upon the "best deal".
So, what is the way to avoid mistakes? How should these answers be discovered?
We'll look at both of these answers over the next two weeks.
Stay safe!
John R. Hill
Apparatus Budgeting Consultant
ENVIZION Financial
www.envizionfire.com

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