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 DeLorean Other DMC 12 1981 DELOREAN DMC 12 COUPE GULLWING 2K MILES ORIGINAL OWNER NEW TIRES SERVICED $29,999.00 Time Remaining: 20d 16h 50m Buy It Now for only: $29,999.00 |
 Mercedes Benz 380 Series CONVERTIBLE ROADSTER 1985 380SL ORIG CALIFORNIA OWNERS ORIGINAL 65K MILES DEALER SERVICED NONE FINER $4,617.00 (4 Bids) Time Remaining: 2d 47m Buy It Now for only: $19,500.00 |
 Land Rover Freelander VERY RARE 4DR WGN S ONLY 30K ONE OWNER FLORIDA MILES CLEAN CARFAX SERVICED SHARP $9,900.00 Time Remaining: 8d 15h 14m Buy It Now for only: $9,900.00 |
 Mercedes Benz SL Class SL55 SL55 AMG ALWAYS SERVICED MINT COND KEYLESS GO BOSE CLEAN CARFAX PRIVATE OWNER $31,900.00 Time Remaining: 6d 19h 56m Buy It Now for only: $31,900.00 |
 Mercedes Benz E Class E320 CDI Florida 1 Owner Turbo Diesel Navigation Dealer Serviced Heated Seats No Reserve $16,800.00 (28 Bids) Time Remaining: 1d 4h 2m |
 Lexus SC 430 ONE OWNER GARAGE KEPT LEXUS SERVICED EXCELLENT CONDITION BLUE WHITE INTERIOR $21,000.00 Time Remaining: 1h 13m Buy It Now for only: $21,000.00 |
 Land Rover Range Rover Sport 1 OWNER 2006 LAND Rover Range ROVER SPORT1 OWNERRUST FREE AZDEALER SERVICEDCLEAN $25,995.00 Time Remaining: 5d 16h 32m Buy It Now for only: $25,995.00 |
 Toyota Camry Solara SLE CONVERTIBLE 2001 Toyota Solara SLE V 6 CONVERTIBLE ONE OWNER SERVICED FLAWLESS NON FINER $2,850.00 (8 Bids) Time Remaining: 4d 17h 36m |
 Dodge Ram 3500 6spd DIESEL 1 OWNER 07 RAM 3500 67L CUMMINS 6spd FLAT BED DIESEL SERVICED TEXAS $15,995.00 Time Remaining: 10d 6h 34m Buy It Now for only: $15,995.00 |
 Mini Cooper S Heated Seats 2006 Mini Cooper S Convertible ONLY 4500 MILES One CA owner Serviced 6 speed $20,900.00 Time Remaining: 9d 20h 14m Buy It Now for only: $20,900.00 |
 Lamborghini Murcielago LP640 08 LP640 E GEAR BLACK HERMERA WHEELS ONE OWNER SERVICED VIDEO $188,100.00 (9 Bids) Time Remaining: 23h 59m Buy It Now for only: $229,888.00 |
 Dodge Ram 2500 DIESEL 4X4 1 OWNER 06 CUMMINS HO 6spd 660 TORQUE 4X4 SERVICED 28 RECORDS CARFAX LWB TX $14,995.00 Time Remaining: 8d 55m Buy It Now for only: $14,995.00 |
 BMW 5 Series 530 SPORTpkg 2003 BMW 530i SPORT Cold Weather Pkgs 17Rims Xenon SERVICED 530IA 1 OWNER $13,950.00 Time Remaining: 19d 19h 1m Buy It Now for only: $13,950.00 |
 Mini Cooper CONVERTIBLE 2007 Mini Cooper Convertible 5 speed manual ONE OWNER Carfax Cert SERVICED $10,000.00 (1 Bid) Time Remaining: 2d 21h 33m Buy It Now for only: $14,500.00 |
 Bugatti Veyron 1 OWNER FULLY SERVICED METICULOUSLY MAINTAINED $1,050,000.00 Time Remaining: 18d 3h 23m Buy It Now for only: $1,050,000.00 |
 Lexus LS 430 4dr Sdn 1 OWNER PURCHASED NEW SERVICED HERE PERFECT SERVICE HISTORY WE HAVE ALL RECORD $17,971.00 Time Remaining: 6d 20h 52m Buy It Now for only: $17,971.00 |
 Ford Super Duty F 250 KING RANCH 4X4 Crew Cab 1 OWNER EXTRA CLEAN SERVICED 4X4 60 DIESEL KING RANCH CARGO CAP Crew Cab $5,000.00 (1 Bid) Time Remaining: 4d 15h 33m |
 Mercedes Benz E Class E550 Coupe 2010 Mercedes E550 Coupe 1 SoCal Owner Great condition Dealer Serviced $39,990.00 Time Remaining: 13d 16h 59m Buy It Now for only: $39,990.00 |
 Acura TL Base Trim 6SPEED ONE OWNER CLEAN CARFAX DEALER SERVICED Florida Car LEATHER SUNROOF MINT $14,999.00 Time Remaining: 1d 3h Buy It Now for only: $14,999.00 |
 Infiniti FX 35 Prem Pkg Florida 1 Owner Clean Carfax Warranty Rear Cam Dealer Serviced Xenon No Reserve $12,100.00 (6 Bids) Time Remaining: 6d 2h 14m |
 Toyota 4Runner LIMITED 1999 TOYOTA 4RUNNER LIMITED CLEAN 1 OWNER FULLY SERVICED AND DETAILED EXCELLENT $8,995.00 Time Remaining: 4d 1h 48m Buy It Now for only: $8,995.00 |
 Jeep Wrangler Unlimited RWD 4dr Sport 2010 Jeep Wrangler Unlimited Sport 2WD 1 Owner 6K Miles Fully Serviced $25,000.00 Time Remaining: 6d 19h 48m Buy It Now for only: $25,000.00 |
 Nissan Pathfinder SE Off Road ONE OWNER 4X4 LEATHER TV DVD ONE OWNER CLEAN CARFAX DEALER SERVICED LOW RESRVE $9,200.00 (17 Bids) Time Remaining: 1d 3h 1m |
 Ford Econoline Commercial Cutaway E 350 E 350 16FT BOX TRUCK 54L V 8 RAMP MOVING ROLL UP DOOR 1 OWNER FLEET SERVICED $7,996.00 Time Remaining: 2d 6h 4m Buy It Now for only: $7,996.00 |
 BMW 7 Series 740IA 4DR SD 1997 BMW 740i 740 V8 44 1 OWNER Dealer Serviced LUXURY SUPER LOW MILES Rare $9,450.00 Time Remaining: 7d 17h 3m Buy It Now for only: $9,450.00 |
 Chrysler 300 Series 4dr Sdn 300 07 300 BLUE GRAY CLOTH ONE OWNER DEALER SERVICED CLEAN V6 AUTO CRUISE CD A C $3,450.00 (18 Bids) Time Remaining: 1d 22h 2m Buy It Now for only: $7,900.00 |
 BMW X5 3OL PANO ROOF GORGEOUS 1 OWNER 2004 X5 30LPANO ROOFBLK TANDEALER SERVICED14995 OFFER $14,995.00 Time Remaining: 4d 22h 1m Buy It Now for only: $14,995.00 |
 Pontiac G8 2009 G81 OWNER CAR BOUGHT LOCALLY AND SERVICED LOCALLIKE NEW $22,869.00 Time Remaining: 9d 19h 33m Buy It Now for only: $22,869.00 |
 Toyota Tacoma NON SMOKER CLEAN HISTORY 2004 Toyota Tacoma XTRACAB 4X4 V6 TRD OFF ROAD SERVICED MINT 1 OWNER T BELT DONE $8,000.00 (3 Bids) Time Remaining: 3d 5h 10m Buy It Now for only: $13,760.00 |
 BMW 7 Series 740IL 2001 BMW 740IL NAVIGATION 1 OWNER SERVICED EXT WARRANTY $8,499.00 Time Remaining: 8d 1h 55m Buy It Now for only: $8,499.00 |
 Rolls Royce Phantom FLORIDA CLEAN 1 OWNER SERVICED READY FOR DELIVERY BEST COLOR COMBO NONE NICER $134,888.00 Time Remaining: 6d 15h 38m Buy It Now for only: $134,888.00 |
 Subaru Impreza 5dr HB WRX 1 OWNER 5 DOOR WRX JUST INSPECTED AND SERVICED FACTORY WARRANTY RIGHT COLOR $15,000.00 (2 Bids) Time Remaining: 2d 19h 28m Buy It Now for only: $21,995.00 |
 Bentley Continental GT GT Speed Just Serviced Under Warranty CA One Owner $158,888.00 Time Remaining: 20d 19h 26m Buy It Now for only: $158,888.00 |
 Honda Accord EX L w Navi 2010 Honda Accord Crosstour EX L Navi 1 Owner Local Naples Car Fully Serviced $24,000.00 Time Remaining: 1d 24m Buy It Now for only: $24,000.00 |
 Honda Odyssey EX L 2003 Honda Odyssey EX L One Owner Serviced Here since 2003 T18043A $6,700.00 (9 Bids) Time Remaining: 2d 23h |
 Porsche Boxster Brand New TopBrand New Tires5 speed manualServicedFlorida Car2 owners $11,995.00 Time Remaining: 7d 23h 19m Buy It Now for only: $11,995.00 |
 Chevrolet Suburban LT2 2007 CHEVY SUBURBAN LT2 4X4CLEAN TITLE1 OWNERSERVICEDWHOLESALE PRIC $20,995.00 Time Remaining: 17d 17h 56m Buy It Now for only: $20,995.00 |
 Mazda MX 5 Miata Convertible 2000 Miata Convertible Low Mileage 1 Owner Clean Carfax Fully Serviced FL Car $500.00 (1 Bid) Time Remaining: 4d 23h 49m Buy It Now for only: $7,900.00 |
 Nissan GT R Premium GT R WARRANTY ONE OWNER NEW TIRES SERVICED 18K STEREO CLEAN LIVE VIDEO $77,900.00 Time Remaining: 14d 19h 16m Buy It Now for only: $77,900.00 |
 Land Rover LR4 4WD 4dr V8 2010 Land Rover LR4 HSE 1 Owner FULLY SERVICED AND LAND ROVER CERTIFIED $43,500.00 Time Remaining: 5d 3h Buy It Now for only: $43,500.00 |
 Acura NSX MT5 1993 NSX 30750 miles 2 owner Perfect Carfax Serviced Ready for you $28,000.00 Time Remaining: 4d 26m |
 Chevrolet Suburban LT LT PKG2500HD4X41 TX OWNERSERVICEDDVDLEATHER7 PASSENGER $8,995.00 Time Remaining: 18d 3h 45m Buy It Now for only: $8,995.00 |
 Jaguar XK Series XK8 Convertible CONVERTIBLE CLEAN CARFAX 2 OWNER Florida Car IMMACULATE JUST SERVICED STUNNING $10,799.00 Time Remaining: 8d 5h 4m Buy It Now for only: $10,799.00 |
 Ford Super Duty F 550 Base Trim F550 CREW CAB 1 OWNER CUSTOM DUMP BED BUY IT WHOLESALE NOW JUST SERVICED Lk $1.00 (2 Bids) Time Remaining: 5d 18h 28m Buy It Now for only: $19,900.00 |
 Aston Martin Vantage 2dr Converti 2008 ASTON MARTIN VANTAGE VOLANTE V8 PRISTINE HiDS NAV SERVICED LOADED 1 OWNER $79,800.00 Time Remaining: 6d 20h 26m Buy It Now for only: $79,800.00 |
 Maserati Quattroporte 05 Maserati Quattroporte ONE OWNER PAMPERED SERVICED BY DEALER ONLY + XTRAS $33,995.00 Time Remaining: 5d 20h 22m Buy It Now for only: $33,995.00 |
 Mercedes Benz S Class S550 P1 1 Owner S550 Pewter Silver Charcoal fully serviced $22,100.00 (11 Bids) Time Remaining: 2d 22h 29m Buy It Now for only: $27,500.00 |
 Toyota Prius Four 2010 Toyota Prius 4 1 Owner Fully Serviced Warranty Florida Car $24,000.00 Time Remaining: 3h Buy It Now for only: $24,000.00 |
 Jaguar XJ8 XJ8 2001 Jaguar XJ8 XJ 1 Owner Florida Car Sea Frost Green New brakes Serviced $7,990.00 Time Remaining: 18d 20h 27m Buy It Now for only: $7,990.00 |
 Mercedes Benz C Class C240 4MATIC 04 C240 4MATIC ONE OWNER COMFORT REAR SEAT PKG SERVICED 6CD $990.00 (2 Bids) Time Remaining: 5d 3m Buy It Now for only: $13,990.00 |
 Mercedes Benz CLS Class 500 2006 MERCEDES CLS500 1 OWNER NAVIGATION SERVICED NEW MICHELIN PILOT TIRES $24,800.00 Time Remaining: 3h 59m Buy It Now for only: $24,800.00 |
 Toyota Prius Hybrid LEATHERNAVIGATION BLUETOOTH BACKUP CAMERAXENON LIGHTSSERVICED1 TX OWNER $10,995.00 Time Remaining: 17d 20h 10m Buy It Now for only: $10,995.00 |
 Mercedes Benz E Class E320 E320 E2 PKG SUNROOF HARMAN KARDON Leather Heated Seats ONE OWNER SERVICED $990.00 (2 Bids) Time Remaining: 4d 23h 25m Buy It Now for only: $10,990.00 |
 Toyota Prius One Owner Off Lease Very CLEAN SERVICED 2009 47k Hybrid W tyOne OwnerSmart Clean 48mpg LOW MILES 6154385347 $17,980.00 Time Remaining: 2d 20h 8m Buy It Now for only: $17,980.00 |
 Bentley Continental Flying Spur 2009 Bentley Flying Spur Blk Tan One Owner Serviced $118,999.00 Time Remaining: 20d 19h 31m Buy It Now for only: $118,999.00 |
 Land Rover LR3 2005 LR3 one owner and cared for from the start dealer maintained and serviced $8,700.00 (1 Bid) Time Remaining: 3d 18h 9m Buy It Now for only: $14,500.00 |
 Lincoln Continental 32V Intech V8 1997 Lincoln Continental 43k Miles Garage Kept One Owner Dealer Serviced Florida $5,995.00 Time Remaining: 11d 18h 25m Buy It Now for only: $5,995.00 |
 Saab Other Convertible 1997 SAAB 900s Convertible SERVICED ONLY 67K Miles 1 Owner $6,800.00 Time Remaining: 19d 18h 45m Buy It Now for only: $6,800.00 |
 Volkswagen Passat Wagon GLS TDI TDI NO RESERVEFully ServicedTurbo Diesel WagonOne Owner $8,500.00 Time Remaining: 6d 2h 29m Buy It Now for only: $14,900.00 |
 Mercedes Benz SL Class SL500 2005 Mercedes Benz SL 500 SL500 1 Owner Serviced Low Miles Super Clean $34,555.00 Time Remaining: 6d 2h 12m Buy It Now for only: $34,555.00 |
 Land Rover Range Rover Supercharged 2011 Range Rover Supercharged 1 Owner Fully Serviced RANGE ROVER CERTIFIED $93,500.00 Time Remaining: 2d 22h 36m Buy It Now for only: $93,500.00 |
 Land Rover Range Rover Sport SPORT HSE PACKAGE LOW MILES ONE OWNER SOLD NEW AND SERVICED AT LAND ROVER KNOXVILLE $59,900.00 Time Remaining: 4d 16h 35m |
 Rolls Royce Ghost 4dr Sdn 2010 Rolls Royce Ghost 1 Owner Ready for Export Fully Serviced Rolls Dealer $209,000.00 Time Remaining: 5d 3h 1m Buy It Now for only: $209,000.00 |
 Bentley Continental GT Speed 2008 Bentley GT Speed 2 Owners Fully Serviced Eligible for Bentley Extended Warr $124,000.00 Time Remaining: 3d 3h 1m Buy It Now for only: $124,000.00 |
 Aston Martin DB9 Volante 2006 ASTON MARTIN DB9 VOLANTE NAVIGATION 31K MILES ONE OWNER SERVICED $15,100.00 (10 Bids) Time Remaining: 4d 19h 12m Buy It Now for only: $72,895.00 |
 Chevrolet Suburban LT Z71 4X4 2004 CHEVY SUBURBAN LT Z71 4X4 ONE TX OWNERCLEAN TITLESERVICEDDVD $8,995.00 Time Remaining: 15d 7h 14m Buy It Now for only: $8,995.00 |
 Ferrari California Base Trim 2010 Ferrari California One Owner Just serviced $197,000.00 Time Remaining: 22h 12m Buy It Now for only: $197,000.00 |
 Maserati Other Granturismo 2008 MASERATI GRANTURISMO COUPE 1 LOCAL OWNER Sold Serviced By Us + A1 $72,151.00 Time Remaining: 6d 19h 43m |
 Maserati Granturismo 2dr 2010 Maserati GranTurismo Convertible 1 Owner Fully Serviced Rich Colors $115,000.00 Time Remaining: 1d 3h 1m Buy It Now for only: $115,000.00 |
 Land Rover LR3 SE ONE OWNER 7 PASS SE NAVIGATION BLUETOOTH FULLY SERVICED RARE COLOR CLEAN 80PICS $22,995.00 Time Remaining: 6d 2h 11m Buy It Now for only: $22,995.00 |
 Bentley Continental GT Mulliner 2008 BENTLEY GT CONVERTIBLE Beluga Saddle Sold New Serviced By Us 1 Owner Car $134,291.00 Time Remaining: 6d 19h 45m |
 BMW 5 Series 528i RWD 2010 BMW 528i Fully Serviced 1 Owner Perfect Condo Car $37,000.00 Time Remaining: 3d 3h Buy It Now for only: $37,000.00 |
 BMW 1 Series 2dr Cpe 128i PWR HEATED FRONT SEATES MEMORY IPOD AUTOMATIC 1 OWNER DEALER SERVICED CLEAN $23,932.00 Time Remaining: 1d 19h 52m Buy It Now for only: $23,932.00 |
 Mercedes Benz E Class 4DR WGN 32L 2002 MERCEDES BENZ E320 WAGON 3RD ROW SEAT 1 OWNER WELL SERVICED VEHICLE $10,000.00 Time Remaining: 6d 17h 59m Buy It Now for only: $11,980.00 |
 Audi A6 4DR SDN QUAT 2000 Audi A6 AWD QUATTRO 27 Twin Turbo ONE OWNER Serviced LOW MILES LOADED $9,450.00 Time Remaining: 19d 19h 47m Buy It Now for only: $9,450.00 |
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Skagen Men's SK581XLSLM Black Label Black Dial Watch
List Price:  |
DescriptionModern architectural elements are visible in this magnificent timepiece. A Swiss-made chronograph movement is housed in a polished stainless steel case in silver with a grey sunray dial. The black Italian leather completes the design of this exquisitely designed timepiece. |
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Skagen Men's 745XLSTXM Sport Watch
List Price: |
DescriptionSkagen, Sport, Men's Watch, Stainless Steel Case, Stainless Steel Bracelet, Quartz (Battery-Powered), 745XLSTXM |
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Skagen Men's 747LSXN Sport Collection Chronograph Watch
List Price: |
DescriptionElegance beauty and style introducing the Skagen chronograph collection. Polished brushed stainless steel case (39mm wide by 13mm thick) and bracelet. Stylish blue dial with silver tone hands and hour markers... |
Business owners currently considering a commercial mortgage refinance, will find that many of the rules have changed. As the economy and so called credit crisis continue, small balance lenders (loans between $300,000 - $5 mil) are scrambling to reset their guidelines while not denying every loan that comes across their desk.
"Back to basics" seems to be the rule of the day. As little as one month ago, commercial lenders were still "cranking out" untraditional programs such as stated income loans, interest only and second lien position loans. Although not completely gone, these programs have been seriously altered. Business owners will need to have their books, value, and credit in line, in order to receive good finance options.
DCR
The Debt Coverage Ratio is a tool capital sources use to asses if a business can afford the mortgage payments of proposed loan. Typically lenders want to see a ratio of 1:1.20. Meaning the business, would have $1.20 of net income vs. $1 of proposed mortgage debt. So, if the business had a 1:1.2 they would still have $.20 left over after all debt and expenses were paid.
This ratio becomes critical in difficult times. It has in impact on commercial property value and as mentioned above, what a business owner's can qualify for. Most capital sources are now ratcheting up this ratio to a 1:1.3 and with some special purpose properties to 1.4's (like hotels). As a reference point this ratio was as low as 1.1 with many aggressive lenders just a few months ago.
In addition, less obvious underwriting standards, such as increasing vacancy and management fees have a direct impact on net income. Many lenders are raising these underwriting guideline from 3% to 7%. In areas like Phoenix for example, some underwriters are using market vacancy vs. a the standard 5%, which can seriously effect a transaction if market vacancy are, for example 12%. Keep in mind that this vacancy will be factored on to the deal, even if the subject property is 100% occupied at the time of the refinance.
This tightening has its biggest impact on businesses that are highly leveraged and or very tight on cash flow. Borrowers facing a ballooning loan that a borderline, will have difficult time coming up with options.
LTV
Loan to values, as in the difference between what a property is worth vs. what is owed, is another key ratio to reduce risk for banks. The normal high side for the typical owner occupied property, such as office, industrial or retail, is 75%/80% on a refinance. This is being dropped pretty much across the board to a max of 70%. Special purpose properties, such as, restaurants, automotive, hotels, daycares, etc are taking the brunt of it, as many lenders will not lend beyond 60% loan to value. Many lender have simple stopped lending on these properties all together.
CREDIT
Personal credit scores are becoming an all too easy way for banks to quickly and efficiently say NO to a deal. 680 is now the new 640. It's not to say that there are no decent lenders that will look at deals below 680 but the file has to have strength on it to augment the weaker credit score.
GLOBAL
The Global Income ratio effectively computes all income (both business and personal) vs. all expenses (again, both business and personal) that the entrepreneur has. 50% to 60% has been the norm for years, now more and more lenders are demanding 40%.
Beyond the underwriting rules that are becoming more strict, there's seems to be a general confusion among banks as to what actually fits their criteria, and or a "wait to see what happens" mentality. This can be especially frustrating for business owners as most would prefer a quick yes or a no, rather than being dragged out due to confusion.
Jeff Rauth is President of Commercial Finance Advisors, Inc out of Birmingham, Michigan. He specializes in Commercial Real Estate Loans between $400,000 - $5,000,000. Offers unique loan programs such as Commercial Second Mortgages, Commercial 30 Year Fixed and 90% non SBA financing, Commercial Equity Lines. 248 885-8797 or at Commercial Real Estate Refinance or Commercial Loan Calculators or Commercial Loan Broker