Cebu electric scooter group offers to help government

In this January 10, 2020 photo, Cebu City Councilor Joel Garganera rides an electric scooter during the Sinulog Festival 2020 launch parade.

CEBU CITY, Philippines – Djan Dyll Ardiente, primary care doctor and nurse, has trusted his electric scooter (e-scooter) for several months now.

Djan, who lives here on D. Jakosalem Street, decided to buy an electric scooter last March when the lockdown due to coronavirus disease was put in place and crippled public transport.

“I had planned to buy a motorcycle but with the confinement, getting a driver’s license would be too difficult. That’s why I bought an electric scooter, ”said Djan in a mix of Cebuano and English.

Since then, the 23-year-old nurse has been using his electric scooter for personal transportation and he said he was very happy to have made this decision.

“I usually spend around P200 a day to get to and from work when I take a cab. But now that I’m riding an electric scooter, it has helped me cut down on my daily expenses, ”Djan told CDN Digital in an interview.

He added that driving an electric scooter also cuts his commute time from an usual hour to around 10 to 15 minutes between his home and his workplace in IT Park, Barangay Apas.

“When you drive a four-wheeled vehicle like a taxi, you might get stuck in traffic, whereas in an electric scooter you may just find small roads and shortcuts that will get you to your job faster, and without bumping into you. in traffic, ”he explained.

The growing movement of electric scooters in Cebu

Electric scooters parked in front of a building in Gonzalez Compound, Brgy. Kamputhaw, Cebu City CDN Digital Photo | Morexette Marie Erram

CDN Digital met Djan at Gonzalez Compound at Barangay Kamputhaw on Saturday September 26, 2020.

At that time, he was with several other Cebuanos who, like him, own and drive electric scooters to take them anywhere in the Cebu metropolitan area.

Sugbo Skooteros

Recently, the Cebu City government has warned individuals like Djan who use electric scooters on public roads that their vehicles could be impounded and could be issued with tickets.

This is after Mayor Edgardo Labella and the Cebu City Transportation Bureau (CCTO) announced that they would tighten up a provision in the city’s highway code that allegedly prohibits electric scooters from driving on the streets.

Labella, in previous interviews, also said the move was aimed at preventing accidents involving scooters from occurring on Cebu City’s roads and major arteries.

READ MORE: Banning electric scooters from major arteries, city roads are for public safety – Labella

The move drew much criticism and reaction from the public, citing the need for alternative modes of transportation due to the “lack of public utility vehicles (VPUs)” amid an ongoing public health crisis.

Read: Cebu City father bans electric scooters: “It’s premature”

This prompted Sugbo Skooteros, a Cebu-based community that promotes electric scooters as an alternative and sustainable mode of transportation, to launch a plan to help cyclists like Djan.

Dr Evanuelle Mendoza, one of the founders of Sugbo Skooteros, said her group was willing to help the city government regulate electric scooters if that meant not restricting the use of this two-wheeled vehicle to transportation purposes.

The growing movement of electric scooters in Cebu

Dr Evanuelle Mendoza, founder of Sugbo Skooteros. Digital Photo CDN | Morexette Marie Erram

“We don’t use electric scooters for recreation. We use it as a means of transport which will help us to travel from point A to point B ”

“We met (the head of CCTO) and offered to help with regulation until there was a final draft (of guidelines on electric scooters) approved by the LTO (Land Transport Authority)” , Mendoza said.

The doctor was referring to the statement by Secretary of Transportation Arthur Tugade that the Department of Transportation (DOTr) did not want the mandatory registration of electric scooters and e-bikes (e-bikes) until the LTO issues a memorandum official or directives concerning the regulation of these vehicles.

Mendoza said that if local officials accept their offer, Sugbo Skooteros will provide consultation and technical assistance to ensure the city’s roads are safe and inclusive for electric scooter riders.

“We would like to work with the Cebu City government, and we hope they will accept our offer,” he said.

Sugbo Skooteros was established in 2019. According to Mendoza, it was an offshoot of growing interest nationwide in electric scooters as sustainable modes of transportation that could help reduce carbon footprints and the number of gasoline vehicles on the streets.

One of the main functions of Sugbo Skooteros was to inform, educate and train drivers on the correct way to ride electric scooters, as well as the relevant traffic rules and regulations.

“As a community, we watch each other once we ride our electric scooters on the roads. We all understood the traffic rules and the safety measures needed to cross the roads, ”Mendoza said.

Electric scooters and pandemic

When the 2019 coronavirus disease (COVID-19) hit the city of Cebu earlier this year and quarantine restrictions halted PUV operations, the membership of Sugbo Skooteros rapidly increased.

Mendoza said about 45% to 55% of people who joined their community were workers like Djan, battling the pandemic on the front lines.

“When they said they were going to ban electric scooters, they weren’t just reaching a small community,” Mendoza said.

“We are ready for regulation with the appropriate consultation. What we are opposed to is prohibiting someone from moving and crossing the road. This is why we want to work with the government and make the public understand why it is a sustainable mode of transport, ”he added.

The group takes issue with city government claims that City Ordinance 801 or Cebu City Traffic Code prohibited roller coasters, roller skates and toy vehicles or similar devices on any road, except when crossing a street.

But Mendoza, citing the initial findings of Sugbo Skooteros’ own legal team, said electric scooters did not fall into the prohibited category by Cebu City’s traffic laws.

“We don’t use electric scooters for recreation. We use it as a means of transportation that will help us travel from point A to point B, ”he explained.

In the meantime, Mendoza said his group is helping its members know what to do in case a traffic cop in Cebu City reports them for riding their electric scooters.

“Many of our members have asked us for clarification. Our legal team helps them know what to expect and what to do when an enforcement official tells them to stop, ”Mendoza said.

For Djan, the city government’s statement was “not right at the moment and inappropriate.” But that won’t stop him, and Sugbo Skooteros for that matter, from riding their electric scooters to promote their advocacy and invite more people to join their community.

The growing movement of electric scooters in Cebu

Nurse and Sugbo Skootero Member Djan Dyll Ardiente CDN Digital Photo | Morexette Marie Erram

“It’s not right now and inopportune given that people like me needed an affordable way to get from point A to point B when there was a pandemic going on. But I know what to say in case the authorities ask me why I am driving an electric scooter. For me, the key is to continue to be a law-abiding cyclist who obeys the proper traffic rules and regulations, ”said Djan.

/ bmjo

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GSB takes out car title loans to keep interest rates low

The GSB logo on display at a Money Expo. The state-backed bank introduces auto title loans to put pressure on interest rates. (Photo by Patipat Janthong)

Government Savings Bank (GSB) plans to enter the auto securities lending market with a focus on retail loans worth up to 200,000 baht per borrower.

The bank’s penetration into the auto securities lending market is aimed at lowering the interest rates charged in this lending segment, President Vitai Ratanakorn said.

The Bank of Thailand has cut interest rates on auto securities lending to 24%, from 28% on Aug. 1, but the rate remains high, Vitai said.

GSB plans to cap the interest on the car title loan at 18%, plus or minus not more than 2%. The 18% rate will be assessed based on customer profiles, Vitai said.

For example, a car with good conditions may receive an interest rate of 16%, while older models or vehicles with risk may see 2% interest added to the 18% rate.

The 18% interest rate for auto title loans, classified as unsecured loans, is lower than the interest rates charged by non-bank companies.

But GSB can still turn a profit because the bank’s existing unsecured loan products have interest rates below 18%, Vitai said.

Non-bank companies involved in auto securities lending have a net interest margin of 15-20%, higher than the NIM of 2% in public banks and 3% in commercial banks, he said.

GSB is evaluating a potential joint venture partner in the automotive securities lending industry.

Are title pawns and title loans legal in Georgia?

Title loans have become very popular in recent years in the South. However, many people are unaware of the difference and the legalities behind securities lending and securities pawns. Some of you reading this might not have known they were different at all until this second – and that’s okay! We will tell you everything.

The difference between securities loans and securities pawns

Yes, it’s true, they are both very similar. However, you need to know the difference because one is legal and the other is illegal in the state of Georgia! So let’s go, shall we?

Securities lending

A title loan is a type of financial assistance that uses the title of your vehicle as collateral so that you can borrow funds. You don’t need to have perfect credit, but some providers will verify that you are not bankrupt.

Some companies call them car title loans, pink slip loans, auto equity loans, auto equity loans, etc. This is how they get confused and slip under the radar of state law because title lending in Georgia is illegal.

Title pawns

A title pawn, on the other hand, is completely legal in Georgia. However, they still use your vehicle title as collateral. Also, there is no extensive credit check.

So what’s the difference? Well, you have to agree that you will be separated from the title of your vehicle for the duration of the loan.

The dangers of title tokens

Now, if you can afford to repay your loan, there’s really no danger of title pawns. However, it’s incredibly easy to fall into the cycle of debt if you’re not careful and plan properly.

If you haven’t heard of the common debt cycle or debt trap as it’s otherwise known, here’s how it works:

  1. You take out a title pledge loan.
  2. You realize you can’t pay it back for some reason.
  3. You take out a different loan to pay off the original title loan.
  4. You cannot afford to repay the second loan.
  5. So you take out another loan.
  6. Thus, a cycle is born, from which it is extremely difficult to break free.

Yes, it can leave you in a very bad situation, very quickly. Not to mention they don’t take life very well throwing expensive and catastrophic curveballs at you!

Luckily, there are ways to plan ahead and check if you can afford it before signing up for anything.

To get started, you can use a free online loan calculator. Here you enter the loan amount, the interest rate, how much you can afford to pay each month, and the term. Then he will tell you if you can afford the loan. Sounds good, right?

Once you’ve done that, save for your loan. It seems rather counter-intuitive, but it can prevent you from falling into the terrible debt cycle we talked about earlier. Setting aside a specified amount until you need a loan can help you meet the repayment deadline and ultimately keep your vehicle and your life intact.

New usury laws to make title pawns safer for you

I hope we haven’t just pushed you away from getting a title pawn. Why? Because Georgia has enacted new usury laws to make acquiring one much safer for you. Let’s take a look at the details.

As we mentioned at the start, title pawns have become more and more popular over the years – and believe us, the feds have taken notice! Therefore, they have cracked down on the pawnbroking industry, to protect you and your financial health.

The new usury laws have been released by the Consumer Financial Protection Bureau. This regulation requires pawnbrokers in title to determine if you can repay the loan before giving it to you. While people shouldn’t take out loans if they can’t afford to repay them, the usury law has helped people (who would otherwise make rash decisions in times of crisis) to stay out of the debt cycle.

Reimbursement terms and conditions

Since title pawns fall into the category of “pawnbrokers”, providers may charge you up to 25% interest per month for the first 90 days (plus fees). After that, it goes down, but an additional fee is charged each day you go over the 90-day “limit”.

It is important to note, however, that these pawns must be issued for 30 days (as stated in the usury law). If you can’t pay it back that quickly, the term will be extended in 30-day increments. For those who reach three overtimes, you’re entering the cycle of debt, so do your best not to keep asking for more – you’ll end up paying way more than you’re worth.

Contract requirements

If you have ever taken out a title loan, you will know the requirements. They haven’t changed much under the new usury laws. Anyway, let’s take a look at them now.

The requirements of the contract consist of the following:

  • The 30-day interest rate;
  • The payment of extensions and the associated costs;
  • The start and end date of the repayment period;
  • The total amount (in dollars) to be reimbursed; and
  • The declaration informing you that in the event of non-payment, your vehicle will be repossessed.

Beware of these vendors

Unfortunately, there are still companies operating in Georgia that illegally offer title loans. These providers will not give you the legal documents and will not follow usury laws. Not to mention that their interest rates are abominably high.

To avoid selling your soul to these illegal moneylenders, be sure to do your research. The internet is full of reviews of all the places you could go, so check them out first. This will save you a world of hassle in the end.

The final take

We know that was a lot of information that was definitely a bit confusing and somewhat scary. But don’t worry, you can find a summary below to calm your nerves and show you that there’s nothing to worry about (as long as you plan ahead!).

  • Title pawns in Georgia are legal, title loans are not.
  • You can use online calculators to check whether you can afford it or not.
  • New usury laws have been enacted by the Consumer Financial Protection Bureau.
  • These laws ensure that the lender must verify that you can afford to repay it in full before allowing you to sign the agreement.

Vespa Racing Sixties Scooter Price: Special Edition Vespa Racing Sixties scooters arrive in India from Rs 1.20 lakh

NEW DELHI: Piaggio India on Tuesday launched special edition Vespa Racing Sixties scooters inspired by racing machines from the 1960s era. The Vespa Racing Sixties will be available in two variants of 125cc and 150cc priced at Rs 1,19,999 and Rs 1.32641, respectively, in India, the company said in a statement.

The special edition scooters were unveiled earlier this year at Auto Expo 2020. It is based on the company’s Vespa SXL 150 BS6 and SXL 125 BS-VI.

Piaggio India President and CEO Diego Graffi said: “As an iconic brand with a long-standing heritage, Vespa is continually rediscovering itself by setting new trends that reflect its versatility to represent unique specialties from different eras. ”

The Vespa Racing Sixties is an “outstanding representation” in the rediscovery of the racing machine theme of the golden racing era of the 1960s and the new introduction “combines heritage with current cutting edge technology,” Graffi added.

The new scooters have a full steel unibody body and are fitted with safety devices such as an anti-lock braking system or a combined braking system.

Innovation 101 at Auto Expo: IoT compatible bikes, cars with powerful engines, EVs in abundance

Vroum, vroum!

It’s that time of year when all auto freaks and auto aficionados are at Auto Expo to witness the biggest car launches.

This year, just like the other years, the Auto Expo has grown and showcased some of the most anticipated cars, MUVs / SUVs, two-wheelers, three-wheelers, concept cars, vintage cars and more. The event started on February 7 and will end on February 12.

Brands like Mercedes-Benz, Volkswagen, Renault, Great Wall Motors, Kia, Hyundai, Tata Motors, Mahindra & Mahindra and Morris Garages attended the event and showcased their cars.

This time, Honda and BMW are missing at the Auto Expo.

If you don’t know the cars and motorcycles that fell at Auto Expo, don’t worry because we’ve got you covered. Here’s everything you need to know about car launches at the mega event.

Piaggio launches Vespa Racing Sixties scooter, price starts at Rs 1.20 lakh, Auto News, ET Auto

company says, the scooter is based on the Vespa SXL 150 BS6 and SXL 125 BS-VI.”/>
Piaggio India unveiled the special edition scooters at Auto Expo 2020 earlier this year. As the company says, the scooter is based on the Vespa SXL 150 BS6 and SXL 125 BS-VI.

New Delhi: Piaggio India announced on Tuesday the launch of its special edition Vespa Racing Sixties scooter inspired by racing machines from the 1960s era. The Vespa Racing Sixties scooter will be available in two variants of 125cc and 150cc, priced at Rs 1,19,999 and Rs 1,32,641 (ex-showroom), respectively.

Piaggio India unveiled the special edition scooters at Auto Expo 2020 earlier this year. As the company says, the scooter is based on the Vespa SXL 150 BS6 and SXL 125 BS-VI.

Commenting on the launch of the scooter, Piaggio India President and CEO Diego Graffi said: “As an iconic brand with a long-standing heritage, Vespa is continually rediscovering itself by setting new trends that reflect its versatility to represent unique specialties from different eras.

As the company says, the new scooters feature a state-of-the-art all-steel unibody body and come equipped with safety features such as an anti-lock braking system or a combination brake system.

Read: ETAuto Originals: Bike craze sweeps India during COVID era