CIT Equipment Trust 2001-1
Composition of Contract Pool
at December 31, 2001
Weighted Weighted Average
Current Average Average Required
Number Required Original Remaining Payoff
of Payoff Term Term Amount
Contracts Amount (Range) (Range) (Range)
--------- ------ ------- ------- -------
43,657 $550,948,082 46.3 months 31.6 months $12,620
(10 to 96 months) (0 to 84 months) ($0 to $3,793,596)
Type of Contract
at December 31, 2001
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Type of Contract Contracts Contracts Amount Amount
- ---------------- --------- --------- ------ ------
True Leases 33,155 75.94% $435,613,395 79.07%
Finance Leases 10,217 23.40 113,033,101 20.52
Loans and other financing arrangements 285 0.65 2,301,586 0.42
---------------------------------------------------------------------
Total 43,657 100.00% $550,948,082 100.00%
=====================================================================
CIT Equipment Trust 2001-1
Geographical Distribution
(Based on obligor billing address)
at December 31, 2001
% of
Total % of
Number Number Required Required
of of Payoff Payoff
State Contracts Contracts Amount Amount
- ----- --------- --------- ------ ------
Alaska 77 0.18% $ 671,810 0.12%
Alabama 431 0.99 2,710,301 0.49
Arkansas 234 0.54 1,461,360 0.27
Arizona 866 1.98 11,910,233 2.16
California 5,664 12.97 56,611,625 10.28
Colorado 873 2.00 11,409,196 2.07
Connecticut 731 1.67 12,190,800 2.21
District of Columbia 254 0.58 4,121,416 0.75
Delaware 457 1.05 4,559,431 0.83
Florida 2,516 5.76 26,220,048 4.76
Georgia 1,571 3.60 25,069,990 4.55
Hawaii 27 0.06 182,291 0.03
Iowa 315 0.72 4,612,221 0.84
Idaho 153 0.35 1,136,978 0.21
Illinois 1,016 2.33 25,385,715 4.61
Indiana 541 1.24 4,727,360 0.86
Kansas 267 0.61 9,802,417 1.78
Kentucky 353 0.81 2,528,103 0.46
Louisiana 433 0.99 2,012,190 0.37
Maine 1,941 4.45 24,302,730 4.41
Maryland 986 2.26 9,439,643 1.71
Maine 52 0.12 365,926 0.07
Michigan 1,337 3.06 16,266,164 2.95
Minnesota 740 1.70 9,237,797 1.68
Missouri 600 1.37 10,955,011 1.99
Mississippi 241 0.55 2,503,598 0.45
Montana 146 0.33 660,322 0.12
North Carolina 1,158 2.65 14,152,624 2.57
North Dakota 33 0.08 879,650 0.16
Nebraska 138 0.32 4,076,897 0.74
New Hampshire 330 0.76 2,444,741 0.44
New Jersey 2,270 5.20 33,634,923 6.10
New Mexico 208 0.48 1,245,239 0.23
Nevada 233 0.53 1,882,665 0.34
New York 4,534 10.39 63,696,304 11.56
Ohio 1,188 2.72 12,628,448 2.29
Oklahoma 372 0.85 4,340,988 0.79
Oregon 514 1.18 3,380,197 0.61
Pennsylvania 1,972 4.52 22,252,299 4.04
Rhode Island 150 0.34 1,289,850 0.23
South Carolina 433 0.99 5,035,760 0.91
South Dakota 52 0.12 796,881 0.14
Tennessee 812 1.86 8,241,358 1.50
Texas 3,385 7.75 48,394,283 8.78
Utah 198 0.45 2,679,084 0.49
Virginia 1,142 2.62 17,693,509 3.21
Vermont 148 0.34 701,371 0.13
Washington 876 2.01 11,037,228 2.00
Wisconsin 499 1.14 7,900,202 1.43
West Virginia 125 0.29 1,126,541 0.20
Wyoming 65 0.15 382,365 0.07
------ ------ ------------ ------
Total 43,657 100.00% $550,948,082 100.00%
====== ====== ============ ======
CIT Equipment Trust 2001-1
Payment Status
at December 31, 2001
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Days Delinquent Contracts Contracts Amount Amount
- --------------- --------- --------- ------ ------
Current, including 1 to 30 day
delinquent contracts 40,293 92.29% $512,709,672 93.06%
31-60 days delinquent 1,828 4.19 22,976,732 4.17
61-90 days delinquent 716 1.64 7,302,391 1.33
91-120 days delinquent 414 0.95 4,479,827 0.81
Over 120 days delinquent 406 0.93 3,479,460 0.63
------ ------ ------------ ------
Total 43,657 100.00% $550,948,082 100.00%
====== ====== ============ ======
Equipment Type
at December 31, 2001
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Type of Equipment Contracts Contracts Amount Amount
- ----------------- --------- --------- ------ ------
Computer & Point-of-Sale 28,608 65.53% $241,277,700 43.79%
Telecommunications 8,612 19.73 221,134,342 40.14
General Office Equipment 3,143 7.20 45,712,686 8.30
Automotive Diagnostic Equipment 2,805 6.43 28,784,693 5.22
Computer Software 114 0.26 8,558,737 1.55
Other(1) 375 0.86 5,479,924 0.99
------ ------ ------------ ------
Total 43,657 100.00% $550,948,082 100.00%
====== ====== ============ ======
(1) Includes $296,975 as the largest and $14,613 as the average Required Payoff
Amount
CIT Equipment Trust 2001-1
Required Payoff Amount
at December 31, 2001
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Required Payoff Amount Contracts Contracts Amount Amount
- ---------------------- --------- --------- ------ ------
0 - 5,000.00 27,137 62.16% $ 62,739,892 11.39%
5,000.01 - 10,000.00 7,298 16.72 51,541,508 9.36
10,000.01 - 15,000.00 2,758 6.32 33,482,085 6.08
15,000.01 - 25,000.00 2,389 5.47 46,037,587 8.36
25,000.01 - 50,000.00 2,302 5.27 81,042,175 14.71
50,000.01 - 100,000.00 1,026 2.35 70,643,833 12.82
100,000.01 - 150,000.00 320 0.73 39,243,266 7.12
150,000.01 - 250,000.00 217 0.50 41,206,878 7.48
250,000.01 - 500,000.00 135 0.31 45,647,651 8.29
500,000.01 - 1,000,000.00 53 0.12 36,564,516 6.64
1,000,000.01 - 1,500,000.00 9 0.02 9,970,469 1.81
1,500,000.01 - 2,500,000.00 7 0.02 13,449,486 2.44
2,500,000.01 - 5,000,000.00 6 0.01 19,378,735 3.52
------ ------ ------------ ------
Total 43,657 100.00% $550,948,082 100.00%
====== ====== ============ ======
Remaining Term
at December 31, 2001
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Remaining Terms of Contracts Contracts Contracts Amount Amount
- ---------------------------- --------- --------- ------ ------
(months)
0- 12 4,640 10.63% $ 56,427,082 10.24%
13- 24 17,629 40.38 162,181,662 29.44
25- 36 10,838 24.83 97,589,395 17.71
37- 48 9,683 22.18 210,342,129 38.18
49- 60 840 1.92 17,148,918 3.11
61- 72 24 0.05 6,517,445 1.18
73- 84 3 0.01 741,451 0.13
85- 93 - - - -
------ ------ ------------ ------
Total 43,657 100.00% $550,948,082 100.00%
====== ====== ============ ======
CIT Equipment Trust 2001-1
Types of Obligor
at December 31, 2001
% of
Total % of
Number Number Required Required
of of Payoff Payoff
Type of Obligor Contracts Contracts Amount Amount
- --------------- --------- --------- ------ ------
Service Organizations(1) 16,294 37.32% $209,504,114 38.03%
Manufacturing 4,227 9.68 89,015,938 16.16
Retail & Wholesale Trade 4,926 11.28 61,093,264 11.09
Financial Services Institutions 3,053 6.99 58,832,880 10.68
Other(2) 9,871 22.61 55,152,498 10.01
Transportation 1,326 3.04 35,998,515 6.53
Medical/Healthcare Organizations 1,443 3.31 16,425,733 2.98
Printing & Copy Centers 627 1.44 11,640,216 2.11
Construction 1,296 2.97 7,565,286 1.37
Government 212 0.49 2,921,080 0.53
Resources, Farming & Fishing 355 0.81 2,237,358 0.41
Machine Tools 27 0.06 561,200 0.10
------ ------ ------------ ------
Total 43,657 100.00% $550,948,082 100.00%
====== ====== ============ ======
(1) Primarily Business Services (46.1%); Other Service Organizations (16.8%);
Engineering, Accounting & Research (14.2%) Communications (7.9%); and Legal
Services (5.8%)
(2) Includes $483,752 as the largest Required Payoff Amount belonging to a
single obligor
As shown in the table above, the servicer's records list 10.01% of the total
required payoff amount in the category of "Other" obligor. The servicer notes
that the collateral securing approximately 5.56% of the required payoff amount
represents small ticket computer equipment typically leased to small businesses.
The remaining "Other" obligor category represents approximately 4.45% of the
required payoff amount. The servicer has not analyzed this category to determine
whether or not the contracts included in it could be grouped into some other
more specific type of obligor category.
Obligor Concentration
% of
Number Required Required
Obligors (including contracts of Payoff Payoff
securing vendor loans) Contracts Amount Amount
---------------------- --------- ------ ------
Top 5 383 $35,909,157 6.52%
The industries in which the top 5 obligors conduct business are Retail &
Wholesale Trade, Service Organizations and Financial Services.