Fire Truck Financial Tools for every stage of a fire truck purchase
Each fire truck purchase has 3 separate financial phases. Each phase has a central financial question to answer. You must hear a “yes” at each phase to get a new truck.
It’s easy to mix up the phases. If so, you’re answering the wrong question with the wrong information.
Each phase has a different ultimate financial question. Each phase requires a unique case study to help your decision makers agree with the purchase. Miss one and you don’t get the truck.
The 3 financial phases of buying a fire truck are:
Justifying the purchase:
- You must answer the question “Should we buy a truck now?”
- And you must provide a financial case study that overcomes the 3 “no-buy” scenarios.
- If you don’t, you will not even get the buying process started.
Learn more… or Get the free Fire Truck Justification Kit…
Budgeting the purchase:
- You must answer the question “Can we afford the truck we need?”
- You must convince the board that you can fit the truck you need in the budget you have.
- If you don’t, you can spend lots of time and energy only to get shot down as too expensive.
Learn more… or Get the free Fire Truck Budgeting Kit…
Financing the purchase:
- You must answer the question “What’s the best way to pay for the truck?
- This doesn’t mean getting a loan. You should review your alternatives to paying for the truck (grant, reserves, borrow) and then develop the best financial plan for your department.
- You can easily hurt your department later if you make a financial mistake in this phase.