The Advantages and Disadvantages of Securities Lending Versus Registration Lending

LOS ANGELES, December 23, 2020 / PRNewswire / – When an emergency arises and you need cash quickly, using a vehicle as collateral for a loan can be a good solution.

But if you are considering a title loan or a registration loan, it is essential to understand what defines these very different types of loans. Although both are related to the use of a vehicle in exchange for funds, these two types of loans have their own advantages and disadvantages.

What is the difference between a title loan and a registration loan?

First, it is essential to distinguish between the title of a vehicle and its registration. The title is used to indicate the ownership of the car. When a vehicle is sold, title will transfer from the current owner (often a dealership, bank or private seller) to the buyer. On the other hand, a registration means that the vehicle can be driven legally.

With this in mind, the essential distinction between these two types of loans is that a title loan requires a blank title in the name of the loan recipient. A blank title means that there are no outstanding loans or unpaid tickets that would prevent the vehicle from being sold. In contrast, enrollment loans only require the registration to be in the name of the loan recipient, regardless of who the vehicle title may identify.

The benefits of a title loan

  • Loan amounts may be larger – With a title loan, the loan amount is based on the value of the vehicle. By securing the loan by offering the title as collateral, the lenders can give more money as they are more likely to be repaid.
  • Interest rates are lower – The interest rates on title loans are generally slightly lower than those on registration loans because of the collateral provided by the title of the vehicle.

The disadvantages of a title loan

  • The vehicle can be taken back – Since title is turned over to receive the loan, the loan company could attempt to repossess the car if it is not paid back on time.
  • The title must be clean – This means that there is no lien on the vehicle, whether it is an outstanding car loan or unpaid tickets.

The advantages of a registration loan

  • Vehicle can be financed – A borrower does not need to be the outright owner of the car to be eligible for a registration loan.
  • The car cannot be taken back – Since the title is the document that signifies ownership, a loan company cannot claim the vehicle on the sole basis of possession of the registration.

The disadvantages of a registration loan

  • Credit and income are factors – Since a registration loan is unsecured, lenders will use standard loan requirements such as employment and credit score to determine the loan amount. This means that registration loans may not be readily available to someone who is unemployed or who is working to get better credit.
  • Loan amounts may be less – Registration loans are often for lower amounts than securities loans and usually have higher interest rates.

What is the best option?

The choice between a title loan and an enrollment loan depends entirely on the borrower’s circumstances. Vehicle registration loans tend to be beneficial for borrowers who need less money and still pay off their vehicle. Title loans work best for owners of cars with proper title who are looking for access to more funds.

Either way, it’s important to understand the loan requirements and repayment expectations before signing the title or vehicle registration.

Notice: The information provided in this article is for informational purposes only. Consult your financial advisor about your financial situation.

SOURCE Advancing America

Seat MO Electric aims to compete with the 125cc scooter

MO Electric Scooter Seat

Seat’s MO electric scooter range now consists of three offerings – eKickScooter65, eKickScooter25 and eScooter 125

Seat MO has officially launched its latest electric scooter featuring the MO eScooter 125 in Europe. Seat is traditionally an automobile brand, which falls under the Volkswagen Group with headquarters in Barcelona, ​​Spain. But they’ve also teamed up with electric two-wheeler manufacturers called Silence, for the production of electric scooters and solo electric vehicles.

As part of this, they have now launched a brand new scooter called MO 125, which aims to compete with 125cc gasoline scooters. The scooter entered series production on December 15 this year.

The Seat MO electric scooter is made in Sant Boi de Llobregat outside Barcelona in partnership with the manufacturer of electric vehicles Silence. Earlier in August of this year, the scooter was launched specifically for ridesharing applications and is now open for retail sale in the Spanish market as a personal mobility option.

Introductory price

By the end of March 2021, this scooter will reach more European markets such as Germany, France, Italy, Austria and Sweden. At present, the scooter is available at 18 Seat dealers across Spain. The scooter is essentially a rebadged Silence S01. After the expansion, it will be launched in Portugal in the second half of 2021. In Spain, the electric scooter has been offered at a price of € 6,250 (equivalent to INR 5.65 lakh).

MO Electric Scooter Seat
MO Electric Scooter Seat

Design features

The MO 125 electric scooter was marketed as a valid alternative to conventional 125cc gasoline scooters. Moreover, it follows a design language and shape similar to conventional IC motor scooters. It also features distinctive styling cues such as a round headlight mounted on the front apron, a long windshield and asymmetrical instrument console.

The front fairing also receives air intakes on both sides. Its battery pack has been carefully positioned so that the storage space below can accommodate two helmets.

MO Electric Scooter Seat
MO Electric Scooter Seat

The company says it will offer the electric scooter with its own connected smartphone application, which could provide crucial data on the position and driving statistics of the scooter. It also has 2 USB phone charging points. MO eScooter 125 is available in three colors: Oxygen White, Bold Red and Aluminum Gray.

Powertrain Specifications and Performance

As for its powertrain, the MO eScooter 125 is powered by a 9 kW electric motor mounted on hub which can return a continuous power of 7 kW / 9.4 hp. This motor is paired with a large 5.6 kWh lithium-ion battery which can be removed and can be charged via a household power outlet. It receives 240 NM of torque on its wheels, which is more than enough for city trips. It can reach a top speed of 95 km / h.

It can sprint from 0 to 50 km / h in just 3.9 seconds. The e-scooter is offered with three driving modes – City, Sport and Eco and an integrated reverse gear for easy maneuverability. In Eco mode, the company claims a range in a single charge of 137 km. Since the battery is removable, the company will also offer an option to swap them out in the future. It is the third electric scooter in the Catalan car manufacturer’s portfolio after eKickScooter65 and eKickScooter25.


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MA-DE studio designs electric version of iconic vespa scooter

After its all-electric fiat 126, the MA-DE studio is back with another reimagining of a classic Italian vehicle. this time around, the Como-based design studio created the vespa ELETTRA concept: an electric version of the iconic vespa scooter.

images © Studio MA-DE

the concept is inspired by the original piaggio vespa. patented on April 23, 1946 and designed by aeronautical engineer Corradino d’ascanio, the vespa has sold over 18 million units in various editions and models to the present day. this new vespa ELETTRA is equipped with a 7 kW electric motor with a torque of 240 nm and a maximum speed of 95 km / h. the 5.6 kW / h battery allows cyclists to cover up to 140 kilometers on a single charge. the app, accessible via your mobile phone, acts as an authentication key as well as an active virtual dashboard to control all navigation data and settings.

MA-DE studio designs electric version of iconic designboom vespa scooter

andrea della vecchia, co-founder of studio MA-DE, says of the project: “I firmly believe in the movement towards electric mobility. it is only a matter of time, not only for cars but especially for scooters and small urban mobility tools. ‘

MA-DE studio designs electric version of iconic designboom vespa scooter

MA-DE studio designs electric version of iconic designboom vespa scooter

MA-DE studio designs electric version of iconic designboom vespa scooter

MA-DE studio designs electric version of iconic designboom vespa scooter

MA-DE studio designs electric version of iconic designboom vespa scooter

project info:

name of the project: vespa ELETTRA

design: andrea della vecchia / studio MA-DE

instagram: @_made_studio

the ‘elettra’ project is a design concept and a personal interpretation, conceived by the MA-DE studio of the ‘VESPA’ vehicle, which is the exclusive property of piaggio & CSpA this project is NOT a real or prototype vehicle, which can be industrialized and / or marketed.

designboom received this project from our ‘DIY submissions‘, where we invite our readers to submit their own work for publication. see more project submissions from our readers here.

edited by: lynne myers | design boom



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Research data suggests Canadians are turning to expensive car title loans during recession – National

If internet search trends are a window into the minds of consumers, a recent report suggests that a growing number of Canadians are considering unwise financial options, observers say.

Amid a resurgence of pandemic-related interest in personal finance information, the number of searches involving auto title lending nearly tripled in Canada from March through September this year to 16,900 per month, from about 5,900 searches per month at the same time. times a year earlier, according to SEMrush.

READ MORE: COVID-19 brings home testing to online car buyers

The Boston-based marketing firm that studies internet search trends said Canadian searches for payday loans, meanwhile, fell 43 percent to 22,900 from 39,700 in the same period. , which has been marked by millions of people who have lost their jobs as non-essential stores and industries have been forced to close in order to contain the spread of the COVID-19 virus.

The story continues under the ad


Click to play the video:







Payday loan warning


Payday Loan Warning – June 22, 2019

“The most surprising thing we noticed has been an increase in demand for auto title loan research, which is, I think, quite unique for Canada compared to the United States, where we don’t have saw that type of increase, ”said Eugene Levin, chief strategy officer for SEMrush, in an interview.

He said he was unsure why searches in the United States had not also increased, but suggested that a possible explanation for the increase in searches for auto title loans and the corresponding decline in loans on auto securities. salary in Canada could be that potential applicants have a car but no job.

READ MORE: When he lost his income amid COVID-19, Spring Financial gave him a loan but no money up front

“A lot of people have cars,” Levin said. “The terms of these loans are better than payday loans, the interest rates are lower, so they are more attractive. At the same time, you don’t need a job to get an auto title loan like some payday loans do.

The story continues under the ad

An auto title loan works on the same basis as a home equity loan. They are billed as short-term business, secured by a lien on the vehicle. In the event of non-payment or default by the borrower, the lender can repossess the vehicle in order to recover his money.


Click to play video:







Young workers face financial uncertainty as pandemic benefits end


Young workers face financial uncertainty as pandemic benefits end – October 1, 2020

Levin said SEMrush statistics do not indicate how many researchers have actually signed up for a car title loan.

An online search for “car title loan” produces dozens of results.

Most providers offer a wide range of loan levels – one promises $ 1,000 to $ 50,000 – and many say their interest rates are “the lowest in the industry,” from “10 to 49 for. hundred “.

The Canadian Press contacted several auto securities lending companies for the story, but no representative was available.

The story continues under the ad

People who are desperate for money will always find someone who is trying to take advantage of their situation, said Brian Betz, advisor for Money Mentors in Calgary, adding that car title loans are just one of many. fast money online programs that they could choose from.

READ MORE: Pay $ 4,300, Get $ 1,750 Back After 3 Years. A man’s warning about “savings loans”

“The increase in securities lending is probably more on those who have no assets. Their car is for all intents and purposes all they have, ”he said.

“Typically, when you get a title loan, it’s not for $ 300 to $ 500. You get a few thousand dollars on this vehicle and at their interest rates it can be very difficult to pay off.

He said that usually about half of the working Canadian workforce is at an insolvency wage, so an event like the pandemic can create thousands of dire straits.

There are better options when bills can’t be honored, Betz said, and they should start by seeking help from an organization like hers that offers free credit counseling.

If you can’t afford to make payments on an existing personal loan or mortgage, you should talk to the lender to see if the payments can be deferred or reduced over a longer repayment period, he said. .

The story continues under the ad

READ MORE: Man with autism told to pay $ 4,442 to get $ 1,750 after 3 years with Spring Financial loan

A consolidation loan can allow the lender to simplify and combine multiple loan payments at a much lower interest rate than a title loan, he added.

Betz warned those looking for solutions to a short-term cash crunch to consider loan fees as well as interest rates, using a Calgary client who was desperate after seeing his hours off as an example. reduced work due to COVID-19.

“He had two loans, not title loans but not payday loans either, and while the interest rate was capped at a certain level, I think it was 32%, in exchange for a borrowing $ 14,000 through these two loans, there was $ 10,000 in fees added to that, ”he said.

“There were cancellation fees, insurance fees, these fees and charges. These are the types of loopholes that these people exploit.

© 2020 The Canadian Press

Canadians show increased interest in high interest auto securities lending during recession

CALGARY – If internet search trends are a window in the minds of consumers, a recent report suggests that a growing number of Canadians are considering unwise financial options, observers say.

Amid a resurgence of pandemic-related interest in personal finance information, the number of searches involving auto title lending nearly tripled in Canada from March through September this year to 16,900 per month, from about 5,900 searches per month at the same time. times a year earlier, according to SEMrush.

The Boston-based marketing firm that studies internet search trends said Canadian searches for payday loans, meanwhile, fell 43 percent to 22,900 from 39,700 in the same period. , which has been marked by millions of people who have lost their jobs as non-essential stores and industries have been forced to close in order to contain the spread of the COVID-19 virus.

“The most surprising thing we have noticed is an increase in demand for auto title loan research which is, I think, quite unique for Canada compared to the United States, where we haven’t seen this guy. increase, ”said Eugene Levin, chief strategy officer for SEMrush, in an interview.

He said he was unsure why searches in the United States had not also increased, but suggested that a possible explanation for the increase in searches for auto title loans and the corresponding decline in loans on auto securities. salary in Canada could be that potential applicants have a car but no job.

“A lot of people have cars,” Levin said. “The terms of these loans are better than payday loans, the interest rates are lower, so they are more attractive. At the same time, you don’t need a job to get an auto title loan like some payday loans do. “

An auto title loan works on the same basis as a home equity loan. They are billed as short-term business, secured by a lien on the vehicle. In the event of non-payment or default by the borrower, the lender can repossess the vehicle in order to recover his money.

Levin said SEMrush statistics do not indicate how many researchers have actually signed up for a car title loan.

An online search for “car title loan” produces dozens of results.

Most providers offer a wide range of loan levels – one promises $ 1,000 to $ 50,000 – and many say their interest rates are the “lowest in the industry,” from “10 to 49 percent. hundred”.

The Canadian Press contacted several auto securities lending companies for the story, but no representative was available.

People who are desperate for money will always find someone who is trying to take advantage of their situation, said Brian Betz, advisor for Money Mentors in Calgary, adding that car title loans are just one of many. fast money online programs that they could choose from.

“The increase in securities lending is probably more about those who have no assets. Their cars are for all intents and purposes all they have,” he said.

“Usually when you get a title loan it’s not for $ 300 to $ 500. You get a few thousand dollars on that vehicle and at their interest rates it can be very difficult to pay off. “

He said that usually about half of the working Canadian workforce is at an insolvency wage, so an event like the pandemic can create thousands of dire straits.

There are better options when bills can’t be honored, Betz said, and they should start by seeking help from an organization like hers that offers free credit counseling.

If you can’t afford to make payments on an existing personal loan or mortgage, you should talk to the lender to see if the payments can be deferred or reduced over a longer repayment period, he said. .

A consolidation loan can allow the lender to simplify and combine multiple loan payments at a much lower interest rate than a title loan, he added.

Betz warned those looking for solutions to a short-term cash crunch to consider loan fees as well as interest rates, using a Calgary client who was desperate after seeing his hours off as an example. reduced work due to COVID-19.

“He had two loans, not title loans but not payday loans either, and while the interest rate was capped at a certain level, I think it was 32%, in exchange for a borrowing $ 14,000 through these two loans, there was $ 10,000 in fees added to that, “he said.

“There were cancellation fees, insurance fees, these fees and charges. These are the types of loopholes that these people are exploiting.”

Piaggio Group, manufacturer of the Vespa scooter, chooses IBM to improve interoperability and efficiency of its global factories

ARMONK, NY and MILAN, Dec 3 2020 / PRNewswire / – IBM (NYSE: IBM) and The Piaggio Group (PIA.MI), European leader and one of the main global players in the scooter and motorcycle market, also active in the field of robotics with the production of drones on the ground, announced the completion of an international project to transition management applications from Piaggio to SAP S / 4HANA. The solution will speed up and simplify internal processes such as providing its employees with more efficient and faster order management tools and offering more flexibility for its customers’ service requests.

The Piaggio Group has focused on the combination of processes through the upgrade of the common and integrated application infrastructure, in its six industrial clusters around the world: four in Italy, one in India and one in Vietnam, where it has production and commercial activities. The upgrade to SAP S / 4HANA will provide a centralized view of information, enabling Piaggio to analyze business and economic data in real time, on any device, even on the go, offering the end user different tools to analyze data independently and simulate alternative scenarios. .

“We have laid the groundwork for the rapid and constant evolution of our processes and the further digitization of the most important business processes in the future, in support of internal functions, collaboration with strategic partners and the network of sale “, commented Vittorio Boero, Chief Information Officer of the Piaggio Group. “This change will take place according to a development plan that we have designed with the aim of bringing tangible and significant benefits to the company through a process of constant improvement.

Initiated in the first quarter of 2020, the migration process was led by IBM, while facing the challenges of social distancing requirements due to the Covid-19 pandemic, with a gradual consolidation taking place at the end of June. The project was completed and met all set targets despite operational hurdles related to testing and starting production in all three countries with remote support rather than on-site.

In order to pursue his company’s international growth goals, Piaggio needed to complete the project safely and on time and ensure that the new system started up before the start of the peak sales season. Their choice of IBM Services was motivated by its extensive and proven expertise, both in applications on the new SAP S / 4HANA technology and in industry. Over 20 years ago, IBM Services completed the SAP R / 3 installation project for Piaggio and carried out the conversion project by taking full advantage of the new efficient functionalities of the management system that combines the transactions of ‘an ERP with emerging technologies. The project represents the first step of an evolutionary path that projects Piaggio towards the dimension of a cognitive company, that is to say a company capable of making the most of internal and external data to support strategies and choices. commercial.

“From the conception of the first Vespa to the present day, Piaggio has always shown that it believes in the driving force of innovation and human capital to face and overcome market challenges. Even during the pandemic, Piaggio continued on its path of transformation to become a cognitive enterprise, able to make the most of technology to improve efficiency and competitiveness, ”said Luigi Menzio, Executive Services Partner, IBM Italy. “IBM is proud to have supported a company symbol of Italian excellence in the safe realization of its international migration project to SAP S / 4HANA at a rapid pace and despite the limits imposed by the containment.”

PIAGGIO GROUP
Founded in 1884, the Piaggio Group is Europe largest manufacturer of scooters and motorcycles and one of the main global players in this sector. Piaggio (PIA.MI), listed on the Italian Stock Exchange since 2006, has been controlled by Immsi SpA since 2003. (IMS.MI), an industrial holding also listed on the Italian Stock Exchange. The activity of the Piaggio Group is divided into three distinct areas: 2-wheelers, light commercial vehicles and the robotics division with Piaggio Fast Forward (PFF). The Group’s brands include Piaggio, Vespa, Aprilia, Moto Guzzi, Gilera, Derbi, Ape and Piaggio Commercial Vehicles. The Piaggio Group has more than 6,600 employees and a worldwide distribution in more than 100 countries. There are seven industrial centers, four of which are in Italy, one in India, one in Vietnam and one in Boston, where the Gita land drone is produced. The Group has four Research and Development centers, in which around 1,000 people are involved.
https://piaggiogroup.com

IBM
For more information on IBM’s SAP services, visit https://www.ibm.com/services/sap.

Contacts
External Relations, IBM Services
Tricia Vuton
Phone: 1-914-765-4980
Mobile: 1-845-490-7582
E-mail: [email protected]

External relations, IBM Italy
Claudia ruffini
Mobile: +39 335 6325093
E-mail: [email protected]

SOURCE IBM

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Piaggio Group, manufacturer of the Vespa scooter, chooses IBM to improve interoperability and efficiency of its global factories

IBM Services completes migration to SAP S / 4HANA during pandemic, supporting Piaggio’s digital transformation journey

ARMONK, NY and MILAN, Dec 3 2020 / PRNewswire / – IBM (NYSE: IBM) and The Piaggio Group (PIA.MI), European leader and one of the main global players in the scooter and motorcycle market, also active in the field of robotics with the production of drones on the ground, announced the completion of an international project to transition management applications from Piaggio to SAP S / 4HANA. The solution will speed up and simplify internal processes such as providing its employees with more efficient and faster order management tools and offering more flexibility for its customers’ service requests.

IBM Services completes migration to SAP S / 4HANA during pandemic, supporting Piaggio’s digital transformation journey.

The Piaggio Group has focused on the combination of processes through the upgrade of the common and integrated application infrastructure, in its six industrial clusters around the world: four in Italy, one in India and one in Vietnam, where it has production and commercial activities. The upgrade to SAP S / 4HANA will provide a centralized view of information, enabling Piaggio to analyze business and economic data in real time, on any device, even on the go, offering the end user different tools to analyze data independently and simulate alternative scenarios. .

“We have laid the groundwork for the rapid and constant evolution of our processes and the further digitization of the most important business processes in the future, in support of internal functions, collaboration with strategic partners and the network of sale “, commented Vittorio Boero, Chief Information Officer of the Piaggio Group. “This change will take place according to a development plan that we have designed with the aim of bringing tangible and significant benefits to the company through a process of constant improvement.

Initiated in the first quarter of 2020, the migration process was led by IBM, while facing the challenges of social distancing requirements due to the Covid-19 pandemic, with the gradual consolidation taking place at the end of June. The project was completed and met all set targets despite operational hurdles related to testing and starting production in all three countries with remote support rather than on-site.

In order to pursue his company’s international growth goals, Piaggio needed to complete the project safely and on time and ensure that the new system started up before the start of the peak sales season. Their choice of IBM Services was motivated by its extensive and proven expertise, both in applications on the new SAP S / 4HANA technology and in industry. More than 20 years ago, IBM Services completed the SAP R / 3 installation project for Piaggio and carried out the conversion project by taking full advantage of the new efficient functionalities of the management system that combines the transactions of ‘an ERP with emerging technologies. The project represents the first step of an evolutionary path that projects Piaggio towards the dimension of a cognitive enterprise, that is to say a company capable of making the most of internal and external data to support strategies and choices. commercial.

“From the conception of the first Vespa to the present day, Piaggio has always shown that it believes in the driving force of innovation and human capital to face and overcome market challenges. Even during the pandemic, Piaggio continued on its path of transformation to become a cognitive enterprise, able to make the most of technology to improve efficiency and competitiveness, ”said Luigi Menzio, Executive Services Partner, IBM Italy. “IBM is proud to have supported a company symbol of Italian excellence in the safe realization of its international migration project to SAP S / 4HANA at a rapid pace and despite the limits imposed by the containment.”

PIAGGIO GROUP
Founded in 1884, the Piaggio Group is Europe largest manufacturer of scooters and motorcycles and one of the main global players in this sector. Piaggio (PIA.MI), listed on the Italian Stock Exchange since 2006, has been controlled by Immsi SpA since 2003. (IMS.MI), an industrial holding also listed on the Italian Stock Exchange. The activity of the Piaggio Group is divided into three distinct areas: 2-wheelers, light commercial vehicles and the robotics division with Piaggio Fast Forward (PFF). The Group’s brands include Piaggio, Vespa, Aprilia, Moto Guzzi, Gilera, Derbi, Ape and Piaggio Commercial Vehicles. The Piaggio Group has more than 6,600 employees and a worldwide distribution in more than 100 countries. There are seven industrial centers, four of which are in Italy, one in India, one in Vietnam and one in Boston, where the Gita land drone is produced. The Group has four Research and Development centers, in which around 1,000 people are involved.
https://piaggiogroup.com

IBM
For more information on IBM’s SAP services, visit https://www.ibm.com/services/sap.

Contacts
External Relations, IBM Services
Tricia Vuton
Phone: 1-914-765-4980
Mobile: 1-845-490-7582
Email: [email protected]

External relations, IBM Italy
Claudia ruffini
Mobile: +39 335 6325093
Email: [email protected]

Piaggio Group, manufacturer of the Vespa scooter, chooses IBM to improve interoperability and efficiency of its global factories

Piaggio Group, manufacturer of the Vespa scooter, chooses IBM to improve interoperability and efficiency of its global factories

IBM company logo.  (PRNewsfoto / IBM)

IBM company logo. (PRNewsfoto / IBM)

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