Exhibit 99.1


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                        Report of Independent Accountants

CIT Financial USA, Inc.


We have examined management's assertion about CIT Financial USA, Inc.'s (the
"Company's"), a wholly owned subsidiary of CIT Group Inc., compliance with the
minimum servicing standards identified in the Mortgage Bankers Association of
America's Uniform Single Attestation Program for Mortgage Bankers, to the extent
the procedures in such are applicable to the servicing obligations set forth in
the Servicing Agreements, as of and for the year ended December 31, 2002, as
included in the accompanying management assertion (see Exhibit I) for CIT
Equipment Collateral 2002-VT1. Management is responsible for the Company's
compliance with those minimum servicing standards. Our responsibility is to
express an opinion on management's assertion about the Company's compliance
based on our examination.

Our examination was made in accordance with attestation standards established by
the American Institute of Certified Public Accountants and, accordingly,
included examining, on a test basis, evidence about the Company's compliance
with the minimum servicing standards and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the Company's compliance with the minimum servicing
standards.

In our opinion, management's assertion that the Company complied with the
aforementioned minimum servicing standards, to the extent the procedures in such
are applicable to the servicing obligations set forth in the Servicing
Agreements, as of and for the year ended December 31, 2002, except as noted in
Exhibit I, is fairly stated, in all material respects.




/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
New York, NY
March 26, 2003