I don’t know about you, but many people have trouble keeping the inside of their car clean. All types of dirt gets tracked inside when you have walked outdoors and then come inside the car with your dirty footwear. And it’s not like a house where you can just change into indoor footwear when you come inside, because usually soon after you have come into your car you will have to leave again. So what can you do? You can use Automotive Floor on the floor of your car. mats protect the carpeting of the car by catching the dirt that is on your footwear before it can get tracked all over your car’s interior.When you are up to getting yourself Automotive Floor, you should decide on the material you want, the one that is the most suitable for your vehicle. A big factor in deciding which is the most suitable for your vehicle is the general weather conditions in the place where you live. If you live in an area that is often snowy and wet, vinyl floor mats are a good choice. They will catch the water but at the same time not get soggy or soaked through. If you fancy a more luxurious look and feel, go for the floor mats made of tufted nylon or high quality berber. You can get rubber floor mats that are very long lasting; they don’t go hard even in tough weather conditions.You will also want to take the color of the floor mats into consideration. Often you can get floor mats only in the basic colors like black, grey and tan. Get a color that will match the carpeting of your car and enhance the look of the car’s interior. There is an option with some manufacturers to order Automotive Floor that are customized according to your wishes. You can get the color to match exactly with the carpeting, and you can also get embroidered edging tailored to your specifications.You can get the floor mats in different sizes so that you can find the ones that fit into your car the best. Or you can get all-size floor mats that you cut down along ridges to the size that you need. In general, floor mats really save your car from a lot of dirt. Dirt and sand will effectively be caught in the mats and protect the interior of your car from all this dirt.
Owners conducting an automotive property refinance are often surprised to discover how many new attractive loan programs that have become available within the last 3 years. 30 year amortization periods, stated income and cash out refinance up to 75% LTV are now on the market. However, automotive refinances are still heavily scrutinized by lenders that are concerned with the environmental status of the property. In addition, the special use nature, as well as the high level of seller financing (land contracts) further complicate and make lenders cautious.Underwriting criteria is broken down into a few main categories – Loan to value, debt service coverage ratios, property analysis, tenant evaluation and credit worthiness of the borrower.LTV – CLTVLoan to value restrictions on automotive refinances are typically capped at 70% on rate and term and 65% on cash out refinances. However, there are a few lenders that will now allow up to 75% on a cash out basis. Lenders also will permit high leverage with seller held financing (sits in second lien position). The combined loan to value can be as high as 90%. For example, if the current first lien position existing convention loan is at 40% loan to value and the seller held is at 30% loan to value the owner could pull an additional 20% equity out on a cash out refinance (40% + 30% + 20% =90% CLTV).DSCRDebt Service Coverage Ratio restrictions are typically conservative at 1:1.3 for this building type. Meaning that for every $1.30 of net income (income after taxes, insurance, repairs, etc) the property/business produces, the mortgage payment will not be allowed to exceed $1.00. Said in another way, after all expenses and the mortgage have been paid, the owner needs to net $.30 to qualify.Due to the cash nature of this business, stated income loans, (where borrower does not have to provide tax returns) can be a solid option for owners that do not show enough net income to qualify for traditional loans. With this type of loan the DSCR discussed above is not relevant.Tenant EvaluationIn the case of investment automotive refinances, tenant evaluation is very important. Lenders may request tenant financials as well as borrower financials and scrutinize the time left on the current lease; among other relevant information. In addition, many lending source will only consider owner occupant transactions.Property AnalysisGreat caution will typically be used as market value and market rent is evaluated and compared to the subject property. Environmental status of the property will be examined and buildings constructed before 1997 will be further analyzed. Appearance, location, accessibility, and local market conditions, as well as other factors are considered.Credit WorthinessThe personal credit worthiness of the borrower will be scrutinized. 680 credit score is normally the minimum for the best finance options. Exceptions can be made (on a limited basis) as some conventional lenders will consider scores as low as 640. The overall strength of the property, tenants, net worth, DSCR, and LTV can offset concerns of low credit scores.Every potential automotive property refinance is unique and are considered on a case by case basis. However, the above can give you a good idea of what the capital sources look for when considering funding this type of commercial loan.
Why is it that so many people are critical about the price they are paying nowadays for automotive parts? It very often seems to me that people still expect to be paying what they would have 10 years ago for the maintenance of their vehicle, but they do not realize that there have been a number of changes in the service industry since then.Firstly let us have a look at the aspect of the purchase of automotive parts by the service center and how things have changed in this regard. In times gone by the service center would receive a trade discount from the part distributor because they were a service center.Well this is no longer the case, now the service center pays exactly the same price as the public for these automotive parts and therefore they need to make up this loss in income by increasing their hourly labor charge.The next point which I would like to bring to your attention when you are looking at the topic of automotive parts and service, is that technology is changing all of the time. The service centers now need specialized diagnostic machines and computers in order to be able to service the modern vehicle.All of this equipment is very expensive, but an essential for any service center who wants to be able to add value for their customers by giving them the best quality service and automotive parts which they possibly can.So the next time you feel you want to blow a blood vessel when you have to pay for the service or repair of you luxury vehicle with all the bells and whistles, remember that the fancier your vehicle and the more extras it has, chances are that you will also be paying more for your services and automotive parts.