There are millions of automobiles riding along on the roads. Their repair and maintenance is crucial. Automotive equipment and auto lift repair parts are a very important part of these two processes.An auto lift is the equipment that is used to lift the heavy vehicles well above the ground. This is done either to transport them to higher ground or to do repairs underneath them. These lifts come in many forms like in-ground lifts, runway lifts, four-post lifts, two-post surface mounted lifts, etc. These lifts operate in different ways and they require different sets of maintenance drills. It is essential to make sure that these lifts are in good working condition and maintained frequently to avoid accidents and injuries. The auto lift repair parts purchased should be of good quality and able to withstand wear and tear to a large extent.There are many suppliers who supply these parts. Many of them are already dealers in the automotive tools and equipments and know exactly what is required for their maintenance. Other automotive equipment generally supplied by these companies include jacks, reels, tire changers, air compressors, lubricant pumps, battery chargers, etc.It is always wise to buy these parts from reputed companies and brands to avoid the purchase of cheap and faulty parts. Ensure that the parts are industry approved and meet the industry standards. It is not wise to go for the cheapest stuff in this case. Quality is more important than price here.An important point to remember is to ensure that the repair work is carried out by a well trained technician who is experienced in the field. He will not only do a good job in making the repairs but will also be able to give sound advice regarding maintenance.Repairing the auto lift is a much better option that buying a new one for several reasons. For one thing, new equipment is very costly. It is more feasible to do the repair work with auto lift repair parts. Another thing is that it is possible to store a few spare parts along with car parts in the garage.This makes them easily accessible and saves a lot of time spent on ordering and waiting for delivery. It also beats buying a new machine that would take to time to get delivered and set up. It also helps if the parts are replaced from time to time, before the machine breaks down or an accident occurs due to wear and tear. For this, regular checkups can be arranged from an expert. One thing to note in all this is that the spare parts are not just one or two in number, but may go up to hundreds and getting the help of a technician is always a good way to go in case of repairs.Problems with auto lift equipments can cause productivity slow-down and accidents. This could not only result in the loss of business but also in the loss of employee morale. Maintenance and repairs is a very important part of the whole automobile industry.
Borrowers purchasing or refinancing an automotive service property (repair, gas station, oil change, etc) will face limited options compared to just 3-6 months ago. As the residential subprime mess continues to seep into all markets, innovative and creative options have either gone into “hibernation” or have been tighten to the point that only the strongest qualify.In terms of what is still readily available for automotive borrowers – think SBA 504, SBA 7a (there are fixed rate options available and you can use this to refinance), and 30 year fixed.SBA 504Created only for purchases, borrower can still expect 85% financing on both straight purchases and or construction/rehab loans. The main benefit to this program include the high leverage and that the rate can be fixed for as long as 5, 7, 10 and a few lenders offer 25 year fixed rates. Also rates are normally very competitive. For example, currently (April 2008) borrowers can expect a blended rate in the high 6’s.Despite what many borrowers believe the SBA process has been greatly improved and borrowers can realistically expect their loan to close in 45 – 60 days, on par with all commercial mortgages.SBA 7aWhile the 504 program is geared generally for loans in the $2,000,000 – $7,000,000 range, the SBA 7a program is geared for smaller loans with a little more “hair”. Borrowers can use projections rather than just historically financials to qualify. Debt coverage ratios can be as low as 1.1 and 90% financing is available on both purchases and refinances for most automotive properties.The most common objections to the 7a programs are 1. The program normally comes with a floating rate and 2. The SBA guarantee fee of 2.75% of the loan amount is too expensive. However it’s critical that the borrower realize that the terms of the loan are negotiable. There are 2 national banks that we work with for example, that structure this loan as a 5 year fixed and the banks pay for the guarantee fee in order to win over deals for most borrowers.30 Year FixedThis creative loan was widely available for automotive borrowers/properties just 5 months ago, but has become restricted. Refinances are now capped at 70% loan to value and cash out refinances are capped at 65% Borrower credit scores need to be at least 680 and financials need to reflect a 1.25 minimum. In addition properties older than 10 years will have a tough time getting closed.Despite the challenges, the 30 year fixed option is a strong program and worthwhile for the borrower to investigate if they like the idea of having long term fixed rate financing.
Automotive repair is a large industry. There are many unsuspected things that can go wrong with a car, and if you do not have a warranty, you will have to find the right repair shop to trust with your car. Another thing to consider is the amount of regular maintenance people have performed on their car each year. This would include oil changes, brake jobs, flushing of fluids, or could simply be having your tires rotated for you. This type of work is typically left to the professionals because automotive repair work takes a degree of knowledge and a lot of experience to be able to be done correctly.One thing to watch for when you are getting your automobile repaired is to make sure you are shopping around for the best prices available on parts. If you are using a shop, feel free to check online for part prices that they claim you need. Usually your mechanic will be honest with you on part pricing, but there is the occasion that they are trying to make money of the parts you need. Another thing to look out for is that the right parts are being replaced. Getting second opinions for auto repair is a smart practice unless you use the same shop for all of your needs and they are trusted amongst your family and community.Another misconception is that any type of auto repair will cost an arm and a leg. Many simple things break on cars instead of catastrophic failures which make it very affordable for people to have their cars fixed, instead of spending more money on a new car. A trusted mechanic will be able to tell you what is wrong with your car and the best options for you to fix it. They will also offer maintenance to prevent catastrophic fixes in the future.Maintaining a car properly is what will keep you away from getting many automotive repairs. Have your trusted mechanic create a schedule of maintenance for you if your car does not already have one. Minor maintenance such as an oil change will go a long way in keeping your car’s engine at its full potential. Maintenance is very affordable and is spread out with months and months separating you from each scheduled visit, which also helps people on a budget. The key factor either way though is to choose a reputable local repair shop for any of your automotive needs, no matter how big or small.