1. GATX
• 4,000 – 5,500 ft³ car capacities for grain
• SPECS for: Gravity Discharge Hopper Rail Cars - Designed to efficiently move
medium-density commodities including grain, sugar and fertilizer.
• Railcars typically have three (3) or four (4) pockets and haul grain, fertilizer, potash, soda
ash, bentonite, lime, bone meal and many other dry-bulk commodities.
• These cars are sometimes lined; lining requirements vary by commodity.
• 225 cars or (3) 75 car unit-trains
• GATX leases on a per car basis per month. A unit train would be treated as 75 single
cars.
• Are able to do unit trains
• They offer a full service lease – all regular maintenance included. Does not include
damages.
• Are able to reline cars for fertilizer at any of their (independently contracted) Repair
Shops throughout the country.
• Closest repair shop to NC is in Waycross, Georgia.
• Many companies engage in a combination of leasing and buying cars.
Information gathered from Todd Moore (GATX East Coast Sales Rep)
• Would use a 5,200 ft³ Covered Hopper for grain
• When they first contrive rates, they begin by pricing each hopper as a new car and then
adjust it as the contract agreement approaches (year, condition, changes in rates over
time etc.) to determine the actual lease rate.
• Rail Cars have a life span of around 50 years
• Purchase their railcars from Trinity Industries
• Takes about one year from the time you place your order to the time it’s up and running

2. • 18 months is the absolute longest (unlikely)
• A full service lease rate includes all regular maintenance except for parts of handling
(hatches & unloading gates)
• 3 year lease is the shortest lease contract
• Every $1000 change in car cost equals about $18 increase or decrease in the lease rate
• Cost of Borrowing (Ten year treasury rate):
o Every tenth of a percent change equals about $10 of change in lease rate
GATX Current Prices
New Car
• Full Service Lease Rates - New Car:
(per car per month; 5,200 cu ft, 286,000 lbs)
o 5 year - $685
o 7 year - $630
o 10 year - $600
• Net Lease Rates - New Car:
o 5 year - $595
o 7 year - $545
o 10 year - $510
Used Car (currently none available)
• Full Service Lease Rates – Used Car: (5,200 cu ft., 286,000 lbs)
o 5 year - $575

3. o 7 year - $550
o 10 year - $535
• Net Lease Rates – Used Car:
o 5 year - $475
o 7 year - $450
o 10 year - $435
GATX Contacts
Karen Engdahl - (Georgia GATX Sales Rep.) (678) 624 – 9700
Todd Moore – (Accounts manager; East Coast Sales Rep.) –Could help with available rates as
well as info on relining cars for fertilizer and who’s doing it. (678) 488 – 8149
Todd.Moore@gatx.com
OTHER CONTACTS
RAIL LOGISTICS http://www.rrlx.com/who.php
GE CAPITAL (RAIL)
http://www.ge.com/railservices/products/railequipment/gravitygravitypneumaticcoveredhopper.h
tml
CHICAGO FREIGHT RAIL LEASING
http://www.crdx.com/agricultural.html
RAILROAD FINANCIAL CORPORATION
http://findarticles.com/p/articles/mi_m1215/is_6_209/ai_n27877749/
* Covered Hopper/197_-1982/Gravity Discharge/100T/4,750 cu.ft./Grain
Value: $15,000 to $21,500. Lease rate: $275-$300 per car per month, full service. Comments:
Good utilization due to hot grain markets extends the useful life of this older car type.
* Covered Hopper/1995-1997/Gravity Discharge/110T/5,150 cu.ft./Grain
Value: $38,000 to $45,000. Lease rate: $350 per car per month, full service.
* Covered Hopper/2003-2005/Gravity Discharge/110T/5,150 cu.ft./Grain
Value: $50,000 to $60,000. Lease rate: $350-$375 per car per month, full service. Comments:
Price appreciation for entire fleet due to new car prices over the last 24 months.