| |                            |                 
| | -------------------------- | ----------------
| | OMB APPROVAL              
| | OMB Number:                | 3235-0063       
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  30, 2009
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  . | 2,196.00        

UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2006

or

o 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 of
issuing entity 333-122288-04

CIT Equipment Collateral 2006-VT2(Exact name of issuing entity as specified in
its charter)

Commission file number of
registrant/depositor 000-30501

CIT Funding Company, LLC(Exact name of registrant/depositor as
specified in its charter)

CIT Financial USA, Inc.(Exact name of sponsor as specified in its
charter)

|                                  |  |                      
|--------------------------------- |  | ---------------------
|Delaware                          |  | 22-3634034           
|(State
  or other jurisdiction of |  | (I.R.S.
  Employer   
|incorporation
  or organization)  |  | Identification
  No.)

|                                                                                                                  |                
|----------------------------------------------------------------------------------------------------------------- | ---------------
|c/o The Bank of New York
  (Delaware), 100 White Clay Center, Route 273, Post Office Box 6995, Newark,
  Delaware | 19711(Zip Code)
|(Address of principal
  executive offices)                                                                       

Issuing entitys telephone
number, including area code (302) 283-8905

Securities registered
pursuant to Section 12(b) of the Act: None.

Securities registered pursuant to section 12(g) of the Act: None.

Indicate by check mark if the
registrant is a well-known seasoned issuer, as defined in Rule 405 of the
Securities Act.


o Yes x No


Indicate by check mark if the
registrant is not required to file reports pursuant to Section 13 or Section
15(d) of the Act.


o Yes x No


Note - Checking the box above will not relieve any
registrant required to file reports pursuant to Section 13 or 15 (d) of the
Exchange Act from their obligations under those Sections.

Exhibit Index Appears on Page 8.

|                 |                                                                                                                                                                           
|---------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|SEC 1673 (11-06) | Persons who respond to the collection of information contained in this form are not
  required to respond unless the form displays a currently valid OMB control
  number.
|                 |                                                                                                                                                                           

---



Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 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.


x Yes o No




Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K (§229.405 of this chapter) is not contained herein, and will not
be contained, to the best of registrants knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K.


x


Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of accelerated
filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check
one):

|                          |                       |                          
|------------------------- | --------------------- | -------------------------
|Large accelerated filer o | Accelerated
  filer o | Non-accelerated
  filer x

---



Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Act). o Yes x
No

State the aggregate market
value of the voting and non-voting common equity held by non-affiliates
computed by reference to the price at which the common equity was last sold, or
the average bid and asked price of such common equity, as of the last business
day of the registrants most recently completed second fiscal quarter.

Note. If a
determination as to whether a particular person or entity is an affiliate
cannot be made without involving unreasonable effort and expense, the aggregate
market value of the common stock held by non-affiliates may be calculated on
the basis of assumptions reasonable under the circumstances, provided that the
assumptions are set forth in this Form.

Not Applicable.

APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCYPROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate
by check mark whether the registrant has filed all documents and reports
required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by
a court.


o Yes o No


Not Applicable.

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

Indicate
the number of shares outstanding of each of the registrants classes of common
stock, as of the latest practicable date.

Not Applicable.

DOCUMENTS INCORPORATED BY REFERENCE

List
hereunder the following documents if incorporated by reference and the Part of
the Form 10-K (e.g., Part I, Part II, etc.) into which the document is
incorporated: (1) Any annual report to security holders; (2) Any proxy or
information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or
(c) under the Securities Act of 1933. The listed documents should be clearly
described for identification purposes (e.g., annual report to security holders
for fiscal year ended December 24, 1980).

None.

PART I

Item lB. Unresolved Staff Comments.

None.

Item 1112(b) of Regulation AB.
Significant Obligor Financial Information.

Not Applicable.

Item 1114(b)(2) and Item 1115(b) of
Regulation AB. Significant Enhancement Provider Financial Information.

Not Applicable.

Item 1117 of Regulation AB. Legal
Proceedings.

There are no legal
proceedings pending, or any proceedings known to be contemplated by
governmental authorities against the servicer, the depositor, any of the
sub-servicers, the indenture trustee, the owner trustee or the issuing entity,
or any property thereof, that are material to holders of the notes. The foregoing
    statements, insofar as they relate to Dell Financial Services, L.P., DFS-SPV,
    L.P., Deutsche Bank Trust Company America or The Bank of New York (Delaware),
    are based on information provided by such entities. The registrant/depositor
    and the issuing entity have no reason to believe that such information is
    false, inaccurate or incomplete.

-2-

---



Item 1119 of Regulation AB.
Affiliations and Certain Relationships and Related Transactions.

CIT Funding Company, LLC, the
registrant/depositor, holds all of the ownership interest in CIT Equipment
Collateral 2006-VT2, the issuing entity. CIT Funding Company, LLC is a direct wholly-owned
subsidiary of CIT Financial USA, Inc., the sponsor and servicer, and an
indirect wholly-owned subsidiary of CIT Group Inc. CIT Communications Finance
Corporation and CIT Technology Financing Services, Inc., which are originators
and subservicers, and CIT Financial USA, Inc. are indirect wholly-owned
subsidiaries of CIT Group Inc.

CIT Funding Company, LLC, the
registrant/depositor, holds all of the ownership interest in CIT Equipment
Trust  VFC Series, an originator. CIT Funding Company, LLC established
CIT Equipment Trust  VFC Series to finance contracts and related equipment
interests through a warehouse receivables securitization facility.

Dell Financial Services
L.P. an originator and subservicer, holds all of the ownership interest in
DFS-SPV L.P., an originator and subservicer. Although DFS-SPV L.P. is acting
as a subservicer, it has delegated all subservicing operations, functions and
activities to Dell Financial Services L.P. with respect to pool assets
originated by Dell Financial Services L.P. CIT Group Inc. holds 30% and Dell,
Inc. holds 70% of the ownership interest in Dell Financial Services L.P.
Pursuant to certain arrangements, CIT Financial USA, Inc. regularly purchases
finance receivables from Dell Financial Services L.P. through DFS-SPV L.P.

Please see the Prospectus
Supplement, dated November 14, 2006, and the Prospectus, dated November 13,
2006, previously filed with the Securities and Exchange Commission (the Commission) with respect to the
registrant/depositor pursuant to Rule 424(b)(5) of the Act and with respect to
the issuing entity, in each case, on November 21, 2006 for further information
about the foregoing affiliations, relationships and transactions. Except
as set forth in the Prospectus Supplement and Prospectus, there are no material
business relationships, agreements, arrangements, transactions, or
understandings between the registrant/depositor or issuing entity and any of
their affiliates, including the servicer, the sponsor or any originators, which
would have a material adverse effect on the pool assets or the notes.

Item 1122 of Regulation AB.
Compliance with Applicable Servicing Criteria.

(a)(i)
CIT Financial USA, Inc. (CIT-FUSA) has assessed its compliance as of December
31, 2006 and for the twelve-month period ending December 31, 2006 (the Reporting
Period) with the servicing criteria set forth in Item 1122(d) of Regulation AB
(17 CFR 229.1122(d)), except for Items
1122(d)(1)(ii) (to the extent such item is performed, in part, by subservicers), 1122(d)(1)(iii), 1122(d)(1)(iv), 1122(d)(2)(i) (to the extent  such item is performed, in part, by subservicers), 1122(d)(2)(ii) (to the extent that such item
relates to (A) the actual disbursement or remittance of funds to investors which
is performed by the indenture trustee and (B) disbursements on behalf of an
obligor, and to the extent  such item is performed, in part, by subservicers), 1122(d)(2)(iii) (to the extent that such item relates to guarantees
regarding collections, cash flows or distributions, and to the extent  such item is performed, in part, by subservicers), 1122(d)(2)(v) (to the extent  such item is performed, in part, by subservicers), 1122(d)(2)(vi),
1122(d)(2)(vii) (to the extent  such item is performed, in part, by subservicers), 1122(d)(3)(i) (to the extent that such item relates to agreement with
investors or the trustees records as to the total unpaid principal
balance and number of pool assets serviced), 1122(d)(3)(ii) (to the extent that
such item relates to the actual disbursement or remittance of funds to investors
which is performed by the indenture trustee), 1122(d)(3)(iii) (to the extent
that such item relates to the actual disbursement or remittance of funds to
investors which is performed by the indenture trustee, and to the extent  such item is performed, in part, by subservicers), 1122(d)(4)(iii) (to the extent  such item is performed, in part, by subservicers), 1122(d)(4)(v) (to the extent such item is performed, in part, by subservicers), 1122(d)(4)(ix),
1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) (to the extent  such item is performed, in part, by subservicers) and
1122(d)(4)(xv)


of such
regulation, which CIT-FUSA has determined are not applicable to the servicing
activities CIT-FUSA performs with respect to the asset-backed securities
platform which is described in CIT-FUSAs Report on Assessment of Compliance
with Servicing Criteria (the CIT-FUSA Applicable Servicing Criteria).

(a)(ii)
As more fully described in the related documents referred to below, CIT-FUSA
has complied, in all material respects, as of December 31, 2006 and during the
Reporting Period with the CIT-FUSA Applicable Servicing Criteria.

(a)(iii)
The following documents relating to the foregoing statements are filed as part
of this report on Form 10-K:

|            |  |                                                                                        
|----------- |  | ---------------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                             
|            |  |                                                                                        
|            |  |                                                                                        
|33.1        |  | Report on Assessment of
  Compliance with Servicing Criteria (CIT Financial USA, Inc.).
|34.1        |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).

(b)(i)
CIT Communications Finance Corporation (CIT-CFC) has assessed its compliance
as of December 31, 2006 and for the Reporting Period with the servicing
criteria set forth in Item 1122(d) of Regulation AB (17 CFR 229.1122(d)),
except for Items
1122(d)(1)(i), 1122(d)(1)(iii), 1122(d)(1)(iv), 1122(d)(2)(ii) (to the extent
that such item relates to (A) the actual disbursement or remittance of funds to
investors which is performed by the indenture trustee and (B) disbursements on
behalf of an obligor), 1122(d)(2)(iii) (to the extent that such item relates to
guarantees regarding collections, cash flows or distributions), 1122(d)(2)(iv),
1122(d)(2)(vi), 1122(d)(3)(i), 1122(d)(3)(ii), 1122(d)(3)(iii) (to the extent
that such item relates to the actual disbursement or remittance of funds to
investors which is performed by the indenture trustee), 1122(d)(3)(iv),
1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii)
and 1122(d)(4)(xv)

of such regulation, which
CIT-CFC has determined are not applicable to the servicing activities CIT-CFC performs
with respect to the asset-backed securities platform which is described in
CIT-CFCs Report on Assessment of Compliance with Servicing Criteria (the
CIT-CFC Applicable Servicing Criteria).

(b)(ii)
As more fully described in the related documents referred to below, CIT-CFC has
complied, in all material respects, as of December 31, 2006 and during the
Reporting Period with the CIT-CFC Applicable Servicing Criteria.

-3-

---



(b)(iii)
The following documents relating to the foregoing statements are filed as part
of this report on Form 10-K:

|            |  |                                                                                                       
|----------- |  | ------------------------------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                                            
|            |  |                                                                                                       
|            |  |                                                                                                       
|33.2        |  | Report on Assessment of
  Compliance with Servicing Criteria (CIT Communications Finance Corporation).
|34.2        |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).               

(c)(i)
CIT Technology Financing Services, Inc. (CIT-TFS) has assessed its compliance
as of December 31, 2006 and for the Reporting Period with the servicing
criteria set forth in Item 1122(d) of Regulation AB (17 CFR 229.1122(d)),
except for Items 1122(d)(1)(i), 1122(d)(1)(iii), 1122(d)(1)(iv), 1122(d)(2)(ii) (to the extent
that such item relates to (A) the actual disbursement or remittance of funds to
investors which is performed by the indenture trustee and (B) disbursements on
behalf of an obligor), 1122(d)(2)(iii) (to the extent that such item relates to
guarantees regarding collections, cash flows or distributions), 1122(d)(2)(iv),
1122(d)(2)(vi), 1122(d)(3)(i), 1122(d)(3)(ii), 1122(d)(3)(iii) (to the extent
that such item relates to the actual disbursement or remittance of funds to
investors which is performed by the indenture trustee), 1122(d)(3)(iv),
1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii)
and 1122(d)(4)(xv)
 of such regulation, which
CIT-TFS has determined are not applicable to the servicing activities CIT-TFS
performs with respect to the asset-backed securities platform which is
described in CIT-TFSs Report on Assessment of Compliance with Servicing
Criteria (the CIT-TFS Applicable Servicing Criteria).

(c)(ii)
As more fully described in the related documents referred to below, CIT-TFS has
complied, in all material respects, as of December 31, 2006 and during the
Reporting Period with the CIT-TFS Applicable Servicing Criteria, except for the following:

1.     Item 1122(d)(2)(vii):  Reconciliations
    are prepared on a monthly basis for all asset-backed securities related bank
    accounts, including custodial accounts and related bank clearing accounts.
    These reconciliations: (A) are mathematically accurate; (B) are prepared
    within 30 calendar days after the bank statement cutoff date, or such other
    number of days specified in the transaction agreements; (C) are reviewed
    and approved by someone other than the person who prepared the reconciliation;
    and (D) contain explanations for reconciling items. These reconciling items
    are resolved within 90 calendar days of their original identification, or
    such other number of days specified in the transaction agreements.

Certain reconciling items in bank clearing accounts were not
    resolved within 90 days of their original identification. There is no alternative standard in the transaction agreements.

[List
all instances of material non-compliance with applicable servicing criteria].

(c)(iii)
The following documents relating to the foregoing statements are filed as part
of this report on Form 10-K:

|            |  |                                                                                                        
|----------- |  | -------------------------------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                                             
|            |  |                                                                                                        
|            |  |                                                                                                        
|33.3        |  | Report on Assessment of
  Compliance with Servicing Criteria (CIT Technology Financing Services, Inc.).
|34.3        |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).                

(d)(i)
Dell Financial Services L.P. and DFS-SPV L.P. (collectively, DFS) have
assessed their compliance as of December 31, 2006 and during the Reporting
Period with the servicing criteria set forth in Item 1122(d) of Regulation AB
(17 CFR 229.1122(d)), except for Items 1122(d)(1)(i), 1122(d)(1)(iii), 1122(d)(1)(iv), 1122(d)(2)(ii), 1122(d)(2)(iii), 1122(d)(2)(iv), 1122(d)(2)(vi), 1122(d)(3)(i), 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(iii), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii) and 1122(d)(4)(xv) of such
regulation, which DFS has determined are not applicable to the servicing
activities DFS performs with respect to the asset-backed securities platform
which is described in DFSs Report on Assessment of Compliance with Servicing
Criteria (the DFS Applicable Servicing Criteria).

(d)(ii)
As more fully described in the related documents referred to below, DFS states
that it has complied, in all material respects, as of December 31, 2006 and
during the Reporting Period with the DFS Applicable Servicing Criteria, except for the following:

1.Item
1122(d)(2)(i): Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days of receipt, or such other number of days specified in the transaction agreements.

The Subservicer noted certain customer payments that were not deposited within two business days. There is no alternative standard in the transaction agreement.

2.Item
1122(d)(2)(vii): Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations: (A) are mathematically accurate; (B) are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) are reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.

The Subservicer noted certain reconciling items that were not resolved within 90 calendar days of original identification. There is no alternative standard in the transaction agreement.

3.Item
1122(d)(4)(vii): Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.

The Subservicer noted certain loss mitigation or recovery actions that were not initiated, conducted or concluded in accordance with the required timeframes established under the transaction agreement.

4.Item
1122(d)(4)(viii): Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entitys activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).

The Subservicer noted certain collection activities
    that were not maintained during the Reporting Period the pool asset was delinquent.

(d)(iii)
The following documents relating to the foregoing statements are filed as part
of this report on Form 10-K:

|            |  |                                                                                                                           
|----------- |  | --------------------------------------------------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                                                                
|            |  |                                                                                                                           
|            |  |                                                                                                                           
|33.4        |  | Certification Regarding Compliance with Applicable Servicing
    Criteria (Dell Financial Services L.P. and DFS-SPV L.P.).
|34.4        |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).                                   

(e)(i)
Deutsche Bank Trust Company Americas (Deutsche Bank) has assessed its
compliance as of December 31, 2006 and during the twelve months ended December
31, 2006 with the servicing criteria set forth in Item 1122(d) of Regulation AB
(17 CFR 229.1122(d)), except for Items 1122(d)(2)(iii), 1122(d)(4)(iv),
1122(d)(4)(v), 1122(d)(4)(vi), 1122(d)(4)(vii), 1122(d)(4)(viii),
1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii),
1122(d)(4)(xiii) and 1122(d)(4)(xiv) of such regulation, which Deutsche Bank
has determined are not applicable to the servicing activities Deutsche Bank
performs with respect to the asset-backed securities platform which is
described in Deutsche Banks Managements Assertion of Compliance (the Deutsche
Bank Applicable Servicing Criteria).

(e)(ii)
As more fully described in the related documents referred to below, Deutsche
Bank states that it has complied, in all material respects, as of December 31,
2006 and during the twelve months ended December 31, 2006 with the Deutsche
Bank Applicable Servicing Criteria.

-4-

---



(e)(iii)
The following documents relating to the foregoing statements are filed as part
of this report on Form 10-K:

|            |  |                                                                               
|----------- |  | ------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                    
|            |  |                                                                               
|            |  |                                                                               
|33.5        |  | Managements Assertion of
  Compliance (Deutsche Bank Trust Company Americas).
|34.5        |  | Report of Independent
  Registered Public Accounting Firm (KPMG LLP).         

(e)(iv)
Please note that the registrant/depositor and the issuing entity have determined
that Deutsche Bank is neither a servicer for purposes of Item 1101(j) of
Regulation AB (17 CFR 229.1101(j)) and Interpretation 3.01 of the Commissions
Division of Corporate Finance Manual of Publicly Available Telephone
Interpretations (the Telephone Interpretations) and Item 1123 of Regulation
AB (17 CFR 229.1123) nor a party participating in the servicing function for
purposes of Item 1122 of Regulation AB (17 CFR 229.1122) and Interpretation
12.01 of the Telephone Interpretations. The registrant/depositor and the
issuing entity believe that Deutsche Bank is not required to provide either a
servicer assessment and attestation under Item 1122 of Regulation AB (17 CFR
229.1122) or a servicer compliance statement under Item 1123 of Regulation AB (17
CFR 229.1123). Deutsche Bank has furnished to the registrant/depositor and the
issuing entity its Managements Assertion of Compliance and related Report of
Independent Registered Public Accounting Firm from KPMG LLP. These documents
are filed as part of this report on Form 10-K.

Pursuant
    to Interpretation 15.02 of the Telephone Interpretations, the registrant/depositor
is not incorporating by reference into its Registration Statement on Form S-3
(File No. 333-122288) the Reports of Independent Registered Public Accounting
Firm of PricewaterhouseCoopers LLP filed as part of this report on Form 10-K
    as
    Exhibits 34.1, 34.2, 34.3 and 34.4 or the Report of Independent Registered
Public Accounting Firm of Ernst & Young LLP filed as part of this report on Form
10-K as Exhibit 34.5.

Item 1123 of Regulation AB. Servicer
Compliance Statement.

The
following documents are filed as part of this report on Form 10-K in accordance
with Item 1123 of Regulation AB (17 CFR 229.1123):

|            |  |                                                                                 
|----------- |  | --------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                      
|            |  |                                                                                 
|            |  |                                                                                 
|35.1        |  | Servicer Compliance
  Statement of CIT Financial USA, Inc.                      
|35.2        |  | Servicer Compliance
  Statement of CIT Communications Finance Corporation.      
|35.3        |  | Servicer Compliance
  Statement of CIT Technology Financing Services, Inc.      
|35.4        |  | Servicer Compliance
  Statement of Dell Financial Services L.P. and DFS-SPV L.P.

PART II

Item 9B. Other Information.

None.

PART III

***

PART IV

Item 15.
Exhibits, Financial Statement Schedules.

(a)(1)
Not Applicable.

(a)(2)
Not Applicable.

(a)(3)
The following documents
are filed as exhibits to this report on Form 10-K:

|            |  |                                                                                                                           
|----------- |  | --------------------------------------------------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                                                                
|            |  |                                                                                                                           
|            |  |                                                                                                                           
|31.1        |  | Certification
  Pursuant to Rule 15d-14(d).                                                                               
|33.1        |  | Report on Assessment of
  Compliance with Servicing Criteria (CIT Financial USA, Inc.).                                   
|33.2        |  | Report on Assessment of
  Compliance with Servicing Criteria (CIT Communications Finance Corporation).                    
|33.3        |  | Report on Assessment of
  Compliance with Servicing Criteria (CIT Technology Financing Services, Inc.).                   
|33.4        |  | Certification Regarding Compliance with Applicable Servicing
    Criteria (Dell Financial Services L.P. and DFS-SPV L.P.).
|33.5        |  | Managements Assertion of
  Compliance (Deutsche Bank Trust Company Americas).                                            
|34.1        |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).                                   

-5-

---



|     |  |                                                                                        
|---- |  | ---------------------------------------------------------------------------------------
|34.2 |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).
|34.3 |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).
|34.4 |  | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).
|34.5 |  | Report of Independent
  Registered Public Accounting Firm (KPMG LLP).                  
|35.1 |  | Servicer Compliance
  Statement of CIT Financial USA, Inc.                             
|35.2 |  | Servicer Compliance
  Statement of CIT Communications Finance Corporation.             
|35.3 |  | Servicer Compliance
  Statement of CIT Technology Financing Services, Inc.             
|35.4 |  | Servicer Compliance
  Statement of Dell Financial Services L.P. and DFS-SPV L.P.       

In
addition, the following documents are incorporated by reference as exhibits
into this report on Form 10-K under Rule 12b-32 (17 CFR 240.12b-32):

|            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|----------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit No. |  | Description
  of Document:                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|3(i).1      |  | Amended and Restated Trust
  Agreement dated as of October 1, 2006 between CIT Funding Company, LLC, as
  Depositor, and The Bank of New York (Delaware), as Owner Trustee, filed with
  the Commission as Exhibit 4.2 to the
  report on Form 8-K, dated November 22, 2006, with respect to the
  registrant/depositor and with respect to the
  issuing entity, in each case, on November 28, 2006.                                                                                    
|            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|3(i).2      |  | Certificate
  of Trust of CIT Equipment Collateral 2006-VT2, filed with the Office of the
  Secretary of State of the State of Delaware on November 2, 2006, a form of
  which was filed with the Commission as Exhibit B to Exhibit 3(i).1
  above.                                                                                                                                                                                                                                     
|            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|4.1         |  | Indenture
  dated  as of October 1, 2006 between CIT Equipment Collateral 2006-VT2 and Deutsche
  Bank Trust Company Americas, as Indenture Trustee, filed with the Commission as
  Exhibit 4.1 to the report on Form 8-K, dated November 22, 2006,
  with respect to the registrant/depositor and with respect to the issuing
  entity, in each case, on November 28, 2006.                                                                                                             
|            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|4.2         |  | Pooling and Servicing
  Agreement dated as of October 1, 2006 among CIT Equipment Collateral 2006-VT2, as
  Trust, CIT Funding Company, LLC, as Depositor, and CIT Financial USA, Inc.,
  as Servicer, filed with the
  Commission as Exhibit 4.3to the
  report on Form 8-K, dated November 22, 2006, with respect to the registrant/depositor
  and with respect to the issuing entity, in each case, on November 28, 2006.                                                            
|            |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|10.1        |  | Administration
  Agreement dated  as of October 1, 2006 among CIT Equipment Collateral 2006-VT2, as
  Issuer, CIT Financial USA, Inc., as Administrator, CIT Funding Company, LLC,
  as Depositor, and Deutsche Bank Trust Company Americas, as Indenture Trustee,
  filed with the Commission as Exhibit 10.1 to the report on Form 8-K, dated November 22, 2006, with respect to the registrant/depositor and
  with respect to the issuing entity, in each case, on November 28, 2006.

(b)
The issuing entity filed with the Commission during the period covered
by this report on Form 10-K (i) two (2) Current Reports on Form 8-K, dated
November 22, 2006 and March 19, 2007, respectively; and (ii) one (1) Asset-Backed
Issuer Distribution Report on Form 10-D, dated December 27, 2006.

(c)
Not Applicable.

The
Exhibits required to be filed pursuant to Form 10-K and Item 601 of Regulation
S-K (17 CFR 229.601) are listed above and in the Exhibit Index that immediately
follows the signature hereto.

Supplemental
Information to be Furnished With Reports Filed Pursuant to Section 15(d) of the
Act by Registrants Which Have Not Registered Securities Pursuant to Section 12
of the Act

No annual report, proxy
statement, form of proxy or other proxy soliciting material has been sent to
security holders and the registrant/depositor and the  issuing entity do not
presently contemplate sending any such materials to security holders subsequent
to the filing of this report on Form 10-K.

-6-

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SIGNATURES

Pursuant to the requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, the issuing
entity has duly caused this report to be signed by the servicer on its behalf
by the undersigned, thereunto duly authorized.

|                       |                                   |                                                                |                                             
|---------------------- | --------------------------------- | -------------------------------------------------------------- | --------------------------------------------
|                       | CIT EQUIPMENT COLLATERAL 2006-VT2
|                       | (Issuing entity)                 
|                       |                                  
|Date: March
  30, 2007 | BY:                               | CIT Financial USA, Inc., as Servicer                          
|                       |                                   | (Servicer)                                                    
|                       |                                   |                                                               
|                       | BY:                               | /s/
  Mark A. Carlson                                         
|                       |                                   |                                                               
|                       |                                   | (Signature)                                                   
|                       |                                   | Name:                                                          | Mark A.
  Carlson                           
|                       |                                   | Title:                                                         | Senior Vice
  President  Corporate Treasury
|                       |                                   | (senior
  officer in charge of servicing function of servicer)

-7-

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EXHIBIT
INDEX:

|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|----------------------------------------------------------------------------------------------------------------------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit
  Number:                                                                                                             | Description
  of Document:                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|3(i).1                                                                                                                        | Amended and Restated Trust
  Agreement dated as of October 1, 2006 between CIT Funding Company, LLC, as
  Depositor, and The Bank of New York (Delaware), as Owner Trustee, filed with
  the Commission as Exhibit 4.2 to the
  report on Form 8-K, dated November 22, 2006, with respect to the
  registrant/depositor and with respect to the
  issuing entity, in each case, on November 28, 2006.***                                                                                 
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|3(i).2                                                                                                                        | Certificate
  of Trust of CIT Equipment Collateral 2006-VT2, filed with the Office of the
  Secretary of State of the State of Delaware on November 2, 2006, a form of
  which was filed as Exhibit B to Exhibit 3(i).1 above.***                                                                                                                                                                                                                                                        
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|4.1                                                                                                                           | Indenture
  dated as of October 1, 2006 between CIT Equipment Collateral 2006-VT2 and Deutsche
  Bank Trust Company Americas, as Indenture Trustee, filed with the Commission as
  Exhibit 4.1 to the report on Form 8-K, dated November 22, 2006,
  with respect to the registrant/depositor and with respect to the issuing
  entity, in each case, on November 28, 2006.***                                                                                                           
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|4.2                                                                                                                           | Pooling and Servicing
  Agreement dated as of October 1, 2006 among CIT Equipment Collateral 2006-VT2, as
  Trust, CIT Funding Company, LLC, as Depositor, and CIT Financial USA, Inc.,
  as Servicer, filed with the
  Commission as Exhibit 4.3to the
  report on Form 8-K, dated November 22, 2006, with respect to the registrant/depositor
  and with respect to the issuing entity, in each case, on November 28, 2006.***                                                         
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|10.1                                                                                                                          | Administration
  Agreement, dated October 1, 2006, among CIT Equipment Collateral 2006-VT2, as
  Issuer, CIT Financial USA, Inc., as Administrator, CIT Funding Company, LLC,
  as Depositor, and Deutsche Bank Trust Company Americas, as Indenture Trustee,
  filed with the Commission as Exhibit 10.1 to the report on
  Form 8-K, dated November 22, 2006, with respect to the registrant/depositor and
  with respect to the issuing entity, in each case, on November 28, 2006.***
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|31.1                                                                                                                          | Certification
  Pursuant to Rule 15d-14(d).                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|33.1                                                                                                                          | Report on Assessment of
  Compliance with Servicing Criteria (CIT Financial USA, Inc.).                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|33.2                                                                                                                          | Report on Assessment of
  Compliance with Servicing Criteria (CIT Communications Finance Corporation).                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|33.3                                                                                                                          | Report on Assessment of
  Compliance with Servicing Criteria (CIT Technology Financing Services, Inc.).                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|33.4                                                                                                                          | Certification Regarding Compliance with Applicable Servicing
    Criteria (Dell Financial Services L.P. and DFS-SPV L.P.).                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|33.5                                                                                                                          | Managements Assertion of
  Compliance (Deutsche Bank Trust Company Americas).                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|34.1                                                                                                                          | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|34.2                                                                                                                          | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|34.3                                                                                                                          | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|34.4                                                                                                                          | Report of Independent
  Registered Public Accounting Firm (PricewaterhouseCoopers LLP).                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|34.5                                                                                                                          | Report of Independent
  Registered Public Accounting Firm (KPMG LLP).                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|35.1                                                                                                                          | Servicer Compliance
  Statement of CIT Financial USA, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|35.2                                                                                                                          | Servicer Compliance
  Statement of CIT Communications Finance Corporation.                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|35.3                                                                                                                          | Servicer Compliance
  Statement of CIT Technology Financing Services, Inc.                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|35.4                                                                                                                          | Servicer Compliance
  Statement of Dell Financial Services L.P. and DFS-SPV L.P.                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|***
  Document incorporated by reference as an exhibit into this report on Form
  10-K under Rule 12b-32 (17 CFR 240.12b-32).

-8-

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