SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

For the quarterly period ended      March 31, 2003
                                    --------------

                                       OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from             to
                              -------------

Commission file number                     33-80849
                      -----------------------------

                      Capital Preferred Yield Fund-IV, L.P.
             (Exact name of registrant as specified in its charter)

       Delaware                                         84-1331690
       --------                                         ----------
(State of organization)                     (I.R.S. Employer Identification No.)


  2750 South Wadsworth Blvd., C-200
         Denver, Colorado                                                80227
         ----------------                                                -----
(Address of principal executive offices)                              (Zip Code)

        Registrant's telephone number, including area code (720) 963-9600
                                                           --------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes  X    No   .
                                       ---     ---

                        Exhibit Index Appears on Page 14

                               Page 1 of 19 Pages
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          Quarterly Report on Form 10-Q
                              For the Quarter Ended
                                 March 31, 2003


                                Table of Contents
                                -----------------


PART I.  FINANCIAL INFORMATION                                              PAGE
                                                                            ----

     Item 1.  Financial Statements (Unaudited)

              Balance Sheets - March 31, 2003 and December 31, 2002            3

              Statements of Income - Three Months Ended
              March 31, 2003 and 2002                                          4

              Statements of Cash Flows - Three Months Ended
              March 31, 2003 and 2002                                          5

              Notes to Financial Statements                                6 - 7

     Item 2.  Management's Discussion and Analysis of Financial Condition
              and Results of Operations                                   8 - 12

     Item 3.  Quantitative and Qualitative Disclosures About Market Risk      12

     Item 4.  Controls and Procedures                                         12

PART II. OTHER INFORMATION

     Item 1.  Legal Proceedings                                               13

     Item 6.  Exhibits and Reports on Form 8-K                                13

              Exhibits                                                        14

              Signatures                                                      15

              Certifications                                               16-17


                                       2
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                 BALANCE SHEETS

                                     ASSETS

                                                  March 31,    December 31,
                                                    2003          2002
                                                    ----          ----
                                                (Unaudited)


Cash and cash equivalents                       $ 1,027,241   $ 2,100,551
Accounts receivable, net                            215,265       267,087
Equipment held for sale or re-lease                 192,024       168,661
Net investment in direct finance leases           7,543,534     8,353,900
Leased equipment, net                            33,527,339    37,125,321
                                                -----------   -----------

Total assets                                    $42,505,403   $48,015,520
                                                ===========   ===========


                       LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
     Accounts payable and accrued liabilities   $ 1,034,776   $ 1,064,192
     Payables to affiliates                          98,442       208,798
     Rents received in advance                       79,396        97,418
     Distributions payable to partners              503,552     1,425,083
     Discounted lease rentals                    25,572,983    28,582,334
                                                -----------   -----------

Total liabilities                                27,289,149    31,377,825
                                                -----------   -----------

Partners' capital:
     General partner                                   --            --
     Limited partners:
         Class A                                 14,968,362    16,376,581
         Class B                                    247,892       261,114
                                                -----------   -----------

Total partners' capital                          15,216,254    16,637,695
                                                -----------   -----------

Total liabilities and partners' capital         $42,505,403   $48,015,520
                                                ===========   ===========

                 See accompanying notes to financial statements.

                                       3
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                              STATEMENTS OF INCOME
                                   (Unaudited)


                                                      Three Months Ended
                                                            March 31,
                                                      ------------------
                                                      2003           2002
                                                      ----           ----
Revenue:
     Operating lease rentals                     $ 4,054,330    $ 3,844,283
     Direct finance lease income                     128,121        115,365
     Equipment sales margin                           36,135        100,357
     Interest income                                   1,919         48,351
                                                 -----------    -----------
Total revenue                                      4,220,505      4,108,356
                                                 -----------    -----------

Expenses:
     Depreciation                                  3,221,871      2,994,768
     Management fees to general partner              100,014         89,334
     Direct services from general partner             72,595         81,098
     General and administrative                      247,238        132,796
     Interest on discounted lease rentals            473,873        405,223
     Provision for losses                            100,500        215,000
                                                 -----------    -----------
Total expenses                                     4,216,091      3,918,219
                                                 -----------    -----------

Net income                                       $     4,414    $   190,137
                                                 ===========    ===========

Net income (loss) allocated:
     To the general partner                      $    14,200    $    13,041
     To the Class A limited partners                  (9,688)       175,325
     To the Class B limited partner                      (98)         1,771
                                                 -----------    -----------
                                                 $     4,414    $   190,137
                                                 ===========    ===========

Net income (loss) per weighted average Class A
          limited partner unit outstanding       $     (0.02)   $      0.36
                                                 ===========    ===========

Weighted average Class A limited partner
        units outstanding                            484,590        486,416
                                                 ===========    ===========

                 See accompanying notes to financial statements.

                                       4
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                      Three Months Ended
                                                                    -----------------------
                                                                    March 31,      March 31,
                                                                      2003           2002
                                                                      ----           ----
<S>                                                               <C>            <C>
Net cash provided by operating activities                         $ 4,283,427    $ 1,484,174
                                                                  -----------    -----------

Cash flows from financing activities:
     Proceeds from discounted lease rentals                              --        2,348,846
     Principal payments on discounted lease rentals                (3,009,351)    (2,694,133)
     Redemptions of Class A limited partner units                      (5,855)        (8,428)
     Distributions to partners                                     (2,341,531)    (1,304,265)
                                                                  -----------    -----------

Net cash used in financing activities                              (5,356,737)    (1,657,980)
                                                                  -----------    -----------

Net decrease in cash and cash equivalents                          (1,073,310)      (173,806)

Cash and cash equivalents at beginning of period                    2,100,551      3,917,475
                                                                  -----------    -----------

Cash and cash equivalents at end of period                        $ 1,027,241    $ 3,743,669
                                                                  ===========    ===========

Supplemental disclosure of cash flow information -Interest
     paid on discounted lease rentals                             $   473,873    $   405,223
Supplemental disclosure of noncash investing and
     financing activities - Discounted lease rentals assumed in
     equipment acquisitions                                              --        3,096,632
</TABLE>

                 See accompanying notes to financial statements.

                                       5
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)

1.   Basis of Presentation
     ---------------------

     The accompanying unaudited financial statements have been prepared in
     accordance with accounting principles generally accepted in the United
     States of America for interim financial information and the instructions to
     Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not
     include all of the information and disclosures required by accounting
     principles generally accepted in the United States of America for annual
     financial statements. In the opinion of the general partner, all
     adjustments (consisting of normal recurring adjustments) considered
     necessary for a fair presentation have been included. The balance sheet at
     December 31, 2002 was derived from the audited financial statements
     included in the Partnership's 2002 Form 10-K. For further information,
     refer to the financial statements of Capital Preferred Yield Fund-IV, L.P.
     (the "Partnership"), and the related notes, included in the Partnership's
     Annual Report on Form 10-K for the year ended December 31, 2002, previously
     filed with the Securities and Exchange Commission.

     The Partnership is in its liquidation period, as defined in the Partnership
     Agreement. Even so, because the liquidation period extends over an
     undefined number of accounting periods, the accompanying financial
     statements have been prepared on a going concern basis that contemplates
     the realization of assets and payments of liabilities in the ordinary
     course of business, which is in accordance with accounting principles
     generally accepted in the United States of America.


                                       6
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)

2.   Transactions With the General Partner and Affiliates
     ----------------------------------------------------

     Management Fees Paid to General Partner

     In accordance with the Partnership Agreement, the General Partner earns a
     management fee in connection with its management of the equipment,
     calculated as a percentage of the monthly gross rentals received, and paid
     monthly in arrears. As of March 31, 2003, management fees of $25,328 are
     included in payables to affiliates.

     Direct Services from General Partner

     The General Partner and an affiliate provide accounting, investor
     relations, billing, collecting, asset management, and other administrative
     services to the Partnership. The Partnership reimburses the General Partner
     for these services performed on its behalf as permitted under terms of the
     Partnership Agreement. As of March 31, 2003, direct services from the
     General Partner in the amount of $26,977 are included in payables to
     affiliates.

     General and Administrative Expenses

     The General Partner and an affiliate are reimbursed for the actual cost of
     administrative expenses incurred on behalf of the Partnership per the terms
     of the Partnership Agreement. As of March 31, 2003, administrative expenses
     of $46,137 are included in payables to affiliates.


                                       7
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued

Results of Operations
---------------------

Presented below are schedules (prepared solely to facilitate the discussion of
results of operations that follows) showing items of income and expense and
changes in those items derived from the Statements of Income:

                                            Three Months
                                           Ended March 31,
                                           ---------------
                                          2003         2002        Change
                                          ----         ----        ------

Leasing margin                         $ 486,707    $ 559,657    $ (72,950)
Equipment sales margin                    36,135      100,357      (64,222)
Interest income                            1,919       48,351      (46,432)
Management fees to general partner      (100,014)     (89,334)     (10,680)
Direct services from general partner     (72,595)     (81,098)       8,503
General and administrative expenses     (247,238)    (132,796)    (114,442)
Provision for losses                    (100,500)    (215,000)     114,500
                                        --------    ---------    ---------
  Net income                           $   4,414    $ 190,137    $(185,723)
                                       =========    =========    =========

The Partnership entered its liquidation period in 2002, as defined in the
Partnership Agreement, and will not purchase significant amounts of equipment in
future periods. Furthermore, during future periods, initial leases will expire
and the equipment will be remarketed (i.e., re-leased or sold). As a result,
both the size of the Partnership's leasing portfolio and the amount of total
revenue will decline ("portfolio runoff"). Even so, because the liquidation
period extends over an undefined number of accounting periods, the accompanying
financial statements have been prepared on a going concern basis that
contemplates the realization of assets and payments of liabilities in the
ordinary course of business, which is in accordance with accounting principles
generally accepted in the United States of America.

Leasing Margin

Leasing margin consists of the following:

                                                    Three Months Ended
                                                         March 31,
                                                    ------------------
                                                    2003           2002
                                                    ----           ----
Operating lease rentals                        $ 4,054,330    $ 3,844,283
Direct finance lease income                        128,121        115,365
Depreciation                                    (3,221,871)    (2,994,768)
Interest expense on discounted lease rentals      (473,873)      (405,223)
                                               -----------    -----------
     Leasing margin                            $   486,707    $   559,657
                                               ===========    ===========
     Leasing margin ratio                             12 %           14 %
                                                      ==             ==

Operating lease rentals and depreciation increased primarily due to an increase
in the average balance of the Partnership's leased equipment, net. Leased
equipment, net averaged approximately $35,300,000 for the three months ended
March 31, 2003 compared to an average of approximately $33,400,000 for the three
months ended March 31, 2002. Results of Operations, continued

                                       8
<PAGE>
Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued

Results of Operations
---------------------

Leasing Margin, continued

Direct finance lease income increased due to an increase in the average balance
of the Partnership's net investment in direct finance leases. Net investment in
direct finance leases averaged approximately $7,900,000 for the three months
ended March 31, 2003 compared to an average of approximately $6,600,000 for the
three months ended March 31, 2002.

Interest expense on discounted lease rentals increased due to an increase in the
average balance of discounted lease rentals outstanding. Discounted lease
rentals outstanding averaged approximately $27,100,000 for the three months
ended March 31, 2003 compared to an average of approximately $21,500,000 for the
three months ended March 31, 2002.

Leasing margin ratio will vary due to changes in the portfolio, including, among
other things, the mix of operating leases versus direct finance leases, the
average maturity of leases comprising the portfolio, the average residual value
of leased assets in the portfolio, and the amount of discounted lease rentals
financing the portfolio. Leasing margin ratio for a direct finance lease is
fixed over the term of the lease. Leasing margin ratio for an operating lease
financed with discounted lease rentals increases during the term of the lease
since rents and depreciation are typically fixed while interest expense declines
as the related discounted lease rentals principle is repaid. Leasing margin
ratio decreased primarily as a result of the increase in the average net book
value of the operating lease portfolio and an increase in the average balance of
discounted lease rentals outstanding, both of which are discussed above.

The ultimate profitability of the Partnership's leasing transactions is
dependent in part on interest rates at the time the leases are originated,
future equipment values, and on-going lessee creditworthiness. Because leasing
is an alternative to financing equipment purchases with debt, lease rates tend
to rise and fall with interest rates (although lease rate movements generally
lag interest rate changes in the capital markets).

Equipment Sales Margin

Equipment sales margin consists of the following:

                                         Three Months Ended
                                              March 31,
                                         ------------------
                                       2003              2002
                                       ----              ----
Equipment sales revenue           $   329,185        $ 1,502,477
Cost of equipment sales              (293,050)        (1,402,120)
                                  -----------        -----------
     Equipment sales margin       $    36,135        $   100,357
                                  ===========        ===========

Equipment sales margin fluctuates based on the composition of equipment
available for sale. Currently, the Partnership is in its liquidation period (as
defined in the Partnership Agreement). Initial leases are expiring and the
equipment is either being re-leased or sold to the lessee or a third party.
Equipment sales margin varies with the number and dollar amount of equipment
leases that mature in a particular period and the current market for specific
equipment and residual value estimates.

                                       9
<PAGE>
Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued

Results of Operations
---------------------

Interest Income

Interest income varies due to (1) the amount of cash available for investment
pending distribution to partners and (2) the interest rate on such invested
cash.

Expenses

Management fees paid to the general partner are earned on gross rents received
and will fluctuate due to variances in cash flow and the size of the
Partnership's portfolio. Management fees paid to the general partner increased
due to the increase in average portfolio size discussed above, which resulted in
a corresponding increase in gross rents received.

Direct services from general partner decreased primarily because the three
months ended March 31, 2002 included increased costs related to management's
efforts to collect receivables owed to the Partnership and increased remarketing
activities related to the increased amounts of lease terminations.

General and administrative expenses increased primarily due to a) increased
insurance costs of $49,100, and b) upgrades to computer equipment of $46,600
needed to effectively and efficiently manage the Partnership's assets.

Provision for Losses

The realization of greater than the carrying value of equipment (which occurs
when the equipment is remarketed subsequent to initial lease termination) is
reported as equipment sales margin (if the equipment is sold) or leasing margin
(if the equipment is re-leased). The realization of less than the carrying value
of equipment is recorded as provision for losses.

Residual values are established equal to the estimated value to be received from
the equipment following termination of the lease. In estimating such values, the
Partnership considers all relevant facts regarding the equipment and the lessee,
including, for example, the likelihood that the lessee will re-lease or purchase
the equipment. The nature of the Partnership's leasing activities is such that
it has credit exposure and residual value exposure and will incur losses from
those exposures in the ordinary course of business. The Partnership performs
quarterly assessments of the estimated residual value of its assets to identify
any other-than-temporary losses in value that, if any, are also recorded as
provision for losses.

The provision for losses of $100,500 recorded during the three months ended
March 31, 2003 related primarily to losses on equipment returned to the
Partnership at lease maturity occurring because the residual realized was, or is
expected to be, less than the residual value originally estimated.

                                       10
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued

Liquidity & Capital Resources
-----------------------------

The Partnership is in its liquidation period, as defined in the Partnership
Agreement. The Partnership is not purchasing additional equipment, initial
leases are expiring, and the amount of equipment being remarketed (i.e.,
re-leased, renewed, or sold) is increasing. As a result, both the size of the
Partnership's lease portfolio and the amount of leasing revenue are declining.
Even so, because the liquidation period extends over an undefined number of
accounting periods, the accompanying financial statements have been prepared on
a going concern basis that contemplates the realization of assets and payments
of liabilities in the ordinary course of business, which is in accordance with
accounting principles generally accepted in the United States of America.

The Partnership funds its operating activities principally with cash from rents
and sales of off-lease equipment. Available cash and cash reserves of the
Partnership are invested in short-term government securities pending
distribution to the partners.

During the three months ended March 31, 2003, the Partnership declared
distributions to the Class A limited partners of $1,392,675 ($524,027 of which
was paid in April 2003). All such distributions are expected to constitute a
return of capital for economic purposes. Distributions may be characterized for
tax, accounting and economic purposes as a return of capital, a return on
capital, or a portion of both. The portion of each cash distribution that
exceeds its net income for the fiscal period may be deemed a return of capital
for accounting purposes. However, the total percentage of the partnership's
return on capital over its life will only be determined after all residual cash
flows (which include proceeds from the re-leasing and sale of equipment) have
been realized at the termination of the partnership.

The General Partner believes that the Partnership will generate sufficient cash
flows from operations during the remainder of 2003, to (1) meet current
operating requirements, and (2) fund cash distributions to Class A limited
partners in accordance with the Partnership Agreement. All distributions are
expected to be a return of capital for economic and accounting purposes.
Additionally, the General Partner anticipates that all equipment owned by the
Partnership will be sold and the Partnership liquidated between 2003 and 2006.

                                       11
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations, continued

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
-----------------------------------------------------------------------------
1995
----

The statements contained in this report which are not historical facts may be
deemed to contain forward-looking statements with respect to events, the
occurrence of which involve risks and uncertainties, and are subject to factors
that could cause actual future results to differ both adversely and materially
from currently anticipated results, including, without limitation, the level of
lease originations, realization of residual values, the availability and cost of
financing sources and the ultimate outcome of any contract disputes. Certain
specific risks associated with particular aspects of the Partnership's business
are discussed under Results of Operations in this report and under Results of
Operations in the 2001 Form 10-K when and where applicable.


Item 3.  Quantitative and Qualitative Disclosures About Market Risk
         ----------------------------------------------------------

The Partnership's leases with equipment users are non-cancelable and have lease
rates that are fixed at lease inception. The Partnership finances its leases, in
part, with discounted lease rentals. Discounted lease rentals are a fixed rate
debt. The Partnership's other assets and liabilities are also at fixed rates.
Consequently, the Partnership has no interest rate risk or other market risk
exposure.


Item 4.    Controls and Procedures

Within 90 days prior to the date of this quarterly report, an evaluation was
performed under the supervision and with the participation of the General
Partner's management, including the President and Director, and the Chief
Accounting Officer, of the effectiveness of the design and operation of the
Partnership's disclosure controls and procedures. Based on that evaluation, the
General Partner's management, including the President and Director, and the
Chief Accounting Officer, concluded that the Partnership's disclosure controls
and procedures are effective in timely alerting them to material information
relating to the Partnership required to be included in the Partnership's
periodic SEC reports. There have been no significant changes in the
Partnership's internal controls or in other factors that could significantly
affect internal controls subsequent to the date of their evaluation.

                                       12
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                    PART II.

                                OTHER INFORMATION



Item 1.     Legal Proceedings

            The Partnership is involved in routine legal proceedings
            incidental to the conduct of its business. The General Partner
            believes none of these legal proceedings will have a material
            adverse effect on the financial condition or operations of the
            Partnership.

Item 6.     Exhibits and Reports on Form 8-K

            (a)      Exhibits

            (b) The Partnership did not file any reports on Form 8-K
                during the quarter ended March 31, 2003.

                                       13
<PAGE>
                                Index to Exhibits

Exhibit
Number     Description
 * 99.1    Certification by John F. Olmstead pursuant to 18 U.S.C. Section 1350,
           as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 * 99.2    Certification by Joseph F. Bukofski pursuant to 18 U.S.C. Section
           1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
           2002.


*  Filed herewith


                                       14
<PAGE>
                      CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                   Signatures



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Partnership has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                By: CAI Equipment Leasing V Corp.


Dated:  May 14, 2003            By: /s/John F. Olmstead
                                    -------------------
                                    John F. Olmstead
                                    President and Director
                                    (Principal Executive Officer)

                                    CAPITAL PREFERRED YIELD FUND-IV, L.P.

                                By: CAI Equipment Leasing V Corp.


Dated:  May 14, 2003            By: /s/Joseph F. Bukofski
                                    ---------------------
                                    Joseph F. Bukofski
                                    Chief Accounting Officer
                                    (Principal Accounting and Financial Officer)


                                       15
<PAGE>
                                  CERTIFICATION

I, John F. Olmstead, President and Director of CAI Equipment Leasing V Corp.,
the General Partner of Capital Preferred Yield Fund-IV, L.P. (the
"Partnership"), certify that:

     1. I have reviewed this report on Form 10-Q of the Partnership;

     2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading as with respect to the period covered by this
quarterly report;

     3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
Partnership as of, and for, the periods presented in this quarterly report;

     4. The Partnership's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the Partnership and have:

          a. designed such disclosure controls and procedures to ensure that
     material information relating to the Partnership, including its
     consolidated subsidiaries, is made known to us by others within those
     entities, particularly during the period in which this report in being
     prepared;

          b. evaluated the effectiveness of the Partnership's disclosure
     controls and procedures as of a date within 90 days prior to the filing
     date of this report (the "Evaluation Date"); and

          c. presented in this quarterly report our conclusions about the
     effectiveness of the disclosure controls and procedures based on our
     evaluation as of the Evaluation Date;

     5. The Partnership's other certifying officer and I have disclosed, based
on our most recent evaluation, to the Partnership's auditors:

          a. all significant deficiencies in the design or operation of internal
     controls which could adversely affect the Partnership's ability to record,
     process, summarize and report financial data and have identified for the
     Partnership's auditors any material weaknesses in internal controls; and

          b. any fraud, whether or not material, that involves management or
     other employees who have a significant role in the Partnership's internal
     controls; and

     6. The Partnership's other certifying officer and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.


                                       /s/John F. Olmstead
                                       -------------------
                                          John F. Olmstead
                                       President and Director
                                   (Principal Executive Officer)
                                            May 14, 2003

                                       16
<PAGE>
                                  CERTIFICATION

     I, Joseph F. Bukofski, Chief Accounting Officer of CAI Equipment Leasing V
Corp., the General Partner of Capital Preferred Yield Fund-IV, L.P. (the
"Partnership"), certify that:

     1. I have reviewed this report on Form 10-Q of the Partnership;

     2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading as with respect to the period covered by this
quarterly report;

     3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
Partnership as of, and for, the periods presented in this quarterly report;

     4. The Partnership's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the Partnership and have:

          a. designed such disclosure controls and procedures to ensure that
     material information relating to the Partnership, including its
     consolidated subsidiaries, is made known to us by others within those
     entities, particularly during the period in which this report in being
     prepared;

          b. evaluated the effectiveness of the Partnership's disclosure
     controls and procedures as of a date within 90 days prior to the filing
     date of this report (the "Evaluation Date"); and

          c. presented in this quarterly report our conclusions about the
     effectiveness of the disclosure controls and procedures based on our
     evaluation as of the Evaluation Date;

     5. The Partnership's other certifying officer and I have disclosed, based
on our most recent evaluation, to the Partnership's auditors:

          a. all significant deficiencies in the design or operation of internal
     controls which could adversely affect the Partnership's ability to record,
     process, summarize and report financial data and have identified for the
     Partnership's auditors any material weaknesses in internal controls; and

          b. any fraud, whether or not material, that involves management or
     other employees who have a significant role in the Partnership's internal
     controls; and

          6. The Partnership's other certifying officer and I have indicated in
     this quarterly report whether or not there were significant changes in
     internal controls or in other factors that could significantly affect
     internal controls subsequent to the date of our most recent evaluation,
     including any corrective actions with regard to significant deficiencies
     and material weaknesses.


                                      /s/Joseph F. Bukofski
                                      ---------------------
                                         Joseph F. Bukofski
                                      Chief Accounting Officer
                            (Principal Accounting and Financial Officer)
                                            May 14, 2003

                                       17