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Watch Out For This Potential "Hidden Clause" of You're Next Lease Contract!

There are some pretty sketchy practices in the equipment finance industry. Since financial services are complex and have lots of funky terms that industry "outsiders" don't necessarily understand, most segments of the industry have a certain amount of bad seeds running around. However, bigger industries like mortgage and insurance are pretty tightly regulated, so when someone is caught breaking the rules, they tend to go to jail and get their name in the newspaper. Equipment leasing companies aren't regulated at all, so it's a lot easier to scam you when you are financing equipment than in a lot of other areas. For many finance products, it's pretty safe to just go with a bigger company - the guys who use Snoopy to sell you insurance aren't as likely to be crooks as the...

4th of July Is Independance Day

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Drafted by Thomas Jefferson between June 11 and June 28, 1776, the Declaration of Independence is at once the nation's most cherished symbol of liberty and Jefferson's most enduring monument. Here, in exalted and unforgettable phrases, Jefferson expressed the convictions in the minds and hearts of the American people. The political philosophy of the Declaration was not new; its ideals of individual liberty had already been expressed by John Locke and the Continental philosophers. What Jefferson did was to summarize this philosophy in "self-evident truths" and set forth a list of grievances against the King in order to justify before the world the breaking of ties between the colonies and the mother country.

Why Leasing Rates Matter Less Than You Think

Unless rates are outrageous, it makes very little difference what actual rate you pay for your equipment. Take someone financing a trencher for $75,000.

If you bought new equipment from a dealer and were approved at a 5% rate over 5 years, your payment would be about $1,400 a month (depending on total of dealer fees).  If you didn't use dealer financing, but did used a third party leasing/finance company (with good credit) your payment might be $1,600 a month or so, a difference of $200 a month. Here's the deal - unless the amount of money you plan to make monthly from having that trencher is significantly more than $1,400 (or $1,600), you shouldn't be buying the trencher anyway. Most of the time, when we talk to people about buying a $75,000...

Freightliner Unveils Self-Driving Truck

Freightliner did it.

If you’re one of the many who scoffed at the idea of a commercially-viable self-driving truck, or at best figured such technology was years—if not decades—away, you need to reset your expectations.

At a press event on May 5th at the Las Vegas Motor Speedway outside Las Vegas, NV, Freightliner, in conjunction with the State of Nevada and its governor, Brian Sandovall, launched the Inspiration, a new, autonomous truck. The truck is commercially viable. But more importantly, thanks to legislative steps taken by Nevada, it is completely legal to operate Nevada highways.

The Inspiration is not yet available for purchase and is still in its testing phase. But it will no longer be relegated to test-tracks and cordoned-off test roads. This truck will run in, mix with, cruise with public traffic all throughout the state of Nevada as Freightliner engineers test its capabilities and refine its operating parameters.

The conventional wisdom in the trucking world was that Europe would be the proving ground for autonomous truck technology and development. But Martin Daum, CEO of Daimler Trucks, said Nevada’s bold move prompted Freightliner to aggressively target North America as the new autonomous truck frontier.

That decision ultimately led to this event in Las Vegas today Tuesday, the single largest, and most expensive press launch in Daimler’s entire 100-plus year history.

Details on the Inspiration model are still scarce and more information will be revealed over the next day or two as the event unfolds.