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Gregg Goedde November 30, 2011

Gregg Goedde November 30, 2011. Essentials of Financing — Making wise financing decisions can be difficult. When should you trade? When should you add to or reduce the size of your fleet?. Buy. Finance. Fleet Profile. Trade/Sell. Upgrade.

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Gregg Goedde November 30, 2011

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  1. Gregg Goedde November 30, 2011

  2. Essentials of Financing— Making wise financing decisions can be difficult. • When should you trade? • When should you add to or reduce the size of your fleet?

  3. Buy Finance Fleet Profile Trade/Sell Upgrade

  4. Does your current fleet match your customer base needs? • Vintage of equipment • Proper seating and size • Wheelchair requirements • Seatbelt regulation • Emissions regulation • Color or specialty unit

  5. Cost of ownership: • Maintenance cost increasing • Down time • Cost or goodwill lost due to image • Depreciation • Employee frustration and lost productivity

  6. What type of equipment to use as replacement? • NEW • Customer image • Warranty • Latest technology

  7. NEW (cont’d.) • Latest regulations • Your new coach / Clean start • Cost of operation / including payments • Regulations are driving coach prices

  8. USED • Customer image • Warranty? • Condition and past use • Meet your regulatory and technological needs • Cost of operation/ including payments 2001 Van Hool C2045

  9. REFURBISHED OR UPDATED COACH • Customer image • Warranty? • Condition and past use • Meet your regulatory and technological needs • Cost of operation/ including payments

  10. Nappanee Warehouse

  11. Nappanee Warehouse Completed “Refurb” Interior

  12. Van Hool C2045 “before” and “after”

  13. Greyhound “before” and “after”

  14. TIME TO BUY • Sell or Trade? • Sell • Where and how to sell • Financing and taking trades • Condition  • Trade • Condition of trade is a reflection on your company • Clean Trade = $$$$$$ and better financing • Clean trade will provide better response from the seller

  15. Financing a coach purchase • Current Market conditions • Fewer sources • Credit parameters are much tougher. Shorter terms, more money down • More investigation into customer’s background & history

  16. How do you get money? What to do!*Know your business! • Manage costs, know your revenue source, pay your bills in a timely manner, keep and understand accurate financial statements (quarterly) • Have copies of contracts or detailed description regarding use of additional unit(s) • KNOW your pay history and be ready to detail any reasons for late pays • Be prepared to offer additional info or anything that promotes your company and its needs

  17. No longer “I have the business…I just need a bus” • Seek opportunities to expand on your current business • be prepared to make a financial commitment ($ down)

  18. Opportunities in this market • Companies in your area may have had to reduce the fleet or have gone out of business • Pick up buses at good prices • from the manufacturers • from banks (repos)

  19. Perception and understanding the details of your business will get you money and funding to grow your business

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