The Ultimate Guide to Securities Lending

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The safe, clear and secure for fast cash securities lending. Guaranteed load probability means you can turn all or part of your line of credit control into installment loans with a fixed cost and bonded payments.

Understanding Securities Lending

A title loan is a product presented by various financing organizations. The preface is that you acquire a loan and in response, you offer your vehicle as collateral. You can apply for one of these loans on the web or in a physical area of ​​loan companies that provide small personal loans. If you need more title loan information you can do research before making decisions.

Auto title loans are often the primary business alternative individuals and small business mortgage holders have due to low credit ratings. Rather than spending years repair your credit – seems like a better option. A low credit rating would prevent them from working with commercial banks and credit unions. It doesn’t matter if these establishments were set up to lend the amounts normally sought by car title debtors.

Typically, the loan is for a short term and comes with a high interest rate. In fact, you’ll frequently see triple-digit APRs. You must apply for a loan in the same way as you would for any other loan product. Typically, you will be asked to provide employment information along with other personal details. Either way, the lender may not really take the time to confirm on the grounds that they have title to your vehicle to use as collateral.

In the event that you are endorsed, the lender retains title to your vehicle until the loan is repaid. The loan amount you are confirmed for is based on your vehicle valuation instead of your credit history. Sometimes they can significantly increase the loan amount.

They may also take photos of the vehicle to ensure it is in excellent condition. You must own your vehicle outright or at any rate have some equity in it for these lenders to acknowledge receipt of your application. The lender will often not care about a vehicle that already has a lien against it on the grounds that access to title is more confusing.


Since these loans are scrutinized almost as much as payday loans due to their terms, they offer individuals a choice when they have no other. Usually, lenders acknowledge your application regardless of your past financial record. They cannot run a credit check.

Moreover, they may not confirm other information, which implies that you could be approved very quickly. For people who need cash fast, an automatic title credit may seem like the first choice. Overall you get the money the day they apply. Conventional loans can take days or even two or three weeks before you see the funds.


There are some disadvantages to this type of loan such as:

  • The clearest is the high interest rate. Assuming that you are in urgent need of money, you may not consider the cost of credit, but rather it is an expensive method of obtaining the funds you need.
  • Another problem with an auto title loan is that it puts you at risk of losing your vehicle. High financing costs translate into higher payments, so you’ll likely be in credit default. Provided it happens, your car is repossessed.
  • The lender announces the car to pay off the loan, and you are still responsible for any money owed beyond what the agreement secures. In case this happens, you may indeed find yourself in an awful situation than the one in which you started.

Title loans with a terrible credit score (as an auto title loan can be issued when you have poor credit on the grounds that your car is collateral for the home loan). Unsecured deals are those made without any collateral, thus expanding the possibility of repayment to the lender.

You may be able to acquire up to 120% of the value of your vehicle with a car title loan. Car title loans are a fabulous way for people who need to trade a push and don’t have a long wait to get a traditional home loan approved.

See if securities lending is right for you

Take all of these tips into consideration before making your decision. You want to make sure that you will be able to repay the money, that you don’t get scammedand whether it will do more harm than good to your already weak credit.

If you are unsure, you should reconsider. You want to know all the available payment options and be cautious of any refund penalties. Another thing you want to know is what type of car the lender accepts. Some lenders only accept cars made in 2000 or later. Title loans can be tricky and are not for everyone. Before making a decision, think long and hard about it.

Scooter Hero Duet 125 CC i3S Price, Features, Specs & Photo Gallery

Hero Motocorp unveiled two new 125 CC scooters at Auto Expo 2018 – the Heroes Maestro Edge 125 i3S and the Hero Duet 125 CC i3S. These two scooters use the same engines which are single cylinder gasoline with automatic transmission and deliver a maximum power of 8.7 BHP of maximum power and a maximum torque of 10.2 Nm. These two scooters offer the automatic idle stop system. called i3S which automatically shuts off the engine when the vehicle is stationary, whether in traffic or at a red signal. The engine will come back on when the throttle is used by the rider, saving fuel by reducing engine idle time.

In terms of design, the Hero Duet 125 i3S looks more attractive and modern compared to the current model. Aesthetically, you get silver accents and large turn signals up front. The headlamp is large and has a clear design. The i3S brand is also visible on the front of the scooter.

The texture of the seat is also two-tone and the size of the seat looks moderate. There are telescopic front suspensions and combination brakes. Both front and rear are equipped with drum brakes. The side profile of the scooter looks average while the rear looks attractive. There is also a silver colored heat shield on the tailpipe as well as silver grab bars behind the passenger seat.

There are two-tone climbs all around the scooter with body-colored mirrors adding to the visual appeal of the Duet 125 CC.

Hero Duel 125 CC photo gallery

Pricing and availability

The price of the Hero Duet 125 i3S will be between Rs. 53,000 to Rs. 56,000 price ranges and is expected to be put into circulation during the calendar year 2018.

Nostalgia: jazz-loving restaurateur and well-dressed scooter drivers

OWNER, manager, cook and extraordinary cabaret performer, Jean Jacques Jordan was an icon of the Kemp Town food scene for four decades.

Laughing Onion restaurant will be remembered by many, perhaps not for its food – which was still 70s French cuisine (think Provencal chicken, cassoulet, and snails) – but for its atmosphere.

A man named Harry would sit at the piano and play a selection of jazz lounge classics, while Mr. Jordan made his music in the kitchen, preparing dishes for guests until the final dessert was served, at which time. he himself would take center stage. .

Located at 80 St George’s Road, the restaurant served entertainment with entrees for 30 years, from 1976 until it closed in 2006.

The walls of Laughing Onion were adorned with images very similar to ours today, showing Mr. Jordan in various places during his career as a performer.

He met many celebrities during his life, including American jazz singer and conductor Cab Calloway and jazz legend Sidney Bechet. He even went on stage at the Moulin Rouge.

Do you remember having visited the restaurant? What more can you tell us, Mr. Jordan?

Brighton has long been home to the Mod movement, with people from all over the world coming to town for the annual Brighton Mod Weekenders.

Today we have two photographs that show how popular scooters were in the 60s.

Lambretta and Vespa scooters are still very much in fashion, with incredibly sought after retro models.

Have you ever owned one?

Our footage shows Hove and Portslade road safety organizer Normal Trow and RAC Superintendent J Tobin with young scooter riders.

Do you recognize any of the people depicted?

Our last image shows young pilots performing their scooter test in Brighton in 1964.

Were you one of them?

Crackdown on L-plate scooter riders with new CBT test

The government intends to make it more difficult to drive mopeds and scooters aged 16 and over by introducing a new theory of testing.

The Compulsory Basic Training (CBT) system has been in place – and unchanged – since 1990 and only requires a new pilot to show that he can master simple skills – without having to take any tests – before being cleared to take the road.

But Road Safety Minister Jesse Norman said on Tuesday that had to change with the introduction of a theory test and stricter penalties for those who accumulate penalty points by driving with L-plates attached to their vehicles. mopeds.

CBT changes on foot: if you are 16, you can ride a moped on L-plates after completing compulsory basic training which does not include any testing. However, that is expected to change next year with a theory test offered so new riders are allowed on the road.

16-year-old motorcyclists who have completed their TCC can ride a moped while displaying L-plates, while anyone 17 years of age or older can legally drive a machine up to 125cc with a maximum power of 15 horsepower, but again must show learning plates.

Any rider who does not pass their full motorcycle exam within 48 months must retake the CBT, although motorists who passed their driving exam before February 1, 2001 ride up to 50cc without having to take the training session.

For the past 27 years, there has been no testing requirement under this basic requirement to gain road access, meaning less experienced riders can be let go on some of the more popular routes. busiest in the country without having to display a full knowledge of the rules of the road.

However, Mr Norman wants this to change as part of a motorcycle training overhaul.

Following a public consultation including motorcyclists, new rules are expected to be introduced towards the end of next year which will impose a theoretical testing system under the CBT.

And to ensure that offending riders are not allowed to continue breaking the rules, provisional license holders will be banned from driving and will have to undergo additional training if they accumulate 6 penalty points.

The changes are part of the government’s desperate plans to reduce the number of road fatalities in the UK after statistics showed a 4% increase last year.

Of the 1,792 deaths, 319 were motorcyclists – more than a third of which were between 16 and 24 years old.

A consultation conducted by DfT and DVSA found that there was substantial support for improvements in CBT and those delivering the training courses

A consultation conducted by DfT and DVSA found that there was substantial support for improvements in CBT and those delivering the training courses

Although the overall death toll is at its highest level in five years with an increase in deaths from cars, pedestrians, cyclists and others, the number of motorcyclists killed fell 13% year-on-year.

That said, the Driving and Vehicle Standards Agency (DVSA) contained 5,553 reports of seriously injured motorcyclists last year, one in six being mopeds or scooters.

In a statement this week, Norman said: “We have one of the best road safety records in the world, but we are determined to do more to prevent fatalities and serious injuries.

“Motorcyclists are among the most vulnerable road users and have the highest fatality rate of any group. This is why I am pleased to announce these changes to motorcycle training.

“These improvements should equip learners with a wider range of experiences and better driving skills, helping to make our roads safer for everyone.”

Motorcyclist fatalities on the road fell 13% in 2016, but a third of those killed were young riders aged 16 to 24.

Motorcyclist fatalities on the road fell 13% in 2016, but a third of those killed were young riders aged 16 to 24.

A survey of 2,200 respondents found tremendous support for riders to learn more about protective clothing and riding skills as part of mandatory basic training

A survey of 2,200 respondents found tremendous support for riders to learn more about protective clothing and riding skills as part of mandatory basic training

Mark Winn, Head of Cycling and Professional Policy at DVSA, added: “Our priority is to help cyclists go through a lifetime of safe riding.

“In 2016, more than a third of moped and motorcycle victims were between 16 and 24 years old.

“We want to reduce the risk they face by introducing more realistic and personalized training, delivered by better qualified instructors.

“Making these training improvements will help ensure that motorcyclists have the skills and knowledge they need to help them stay safe on our modern and busy roads. “

Road Safety Minister Jesse Norman (pictured) said the new measures would be introduced as motorcyclists are among the most vulnerable road users.

Road Safety Minister Jesse Norman (pictured) said the new measures would be introduced as motorcyclists are among the most vulnerable road users.

The DVSA has partnered with the Department of Transport (DfT) to assess the opinions of 2,200 respondents on nine proposed changes to improve road safety for new riders.

About 85% of those surveyed agreed that new drivers should take a knowledge test before taking a CBT course, while the same percentage said they wanted CBT certificates revoked by provisional license holders for reckless or dangerous driving offenses.

People were also broadly in favor of introducing training courses for existing motorcyclists, limiting drivers to only riding automatic scooters if they completed their CBT on one or more protective clothing and riding skills training. as part of basic training.

There was also overwhelming support for more DVSA checks on motorcycle training schools and instructor qualifications.

The DVSA has confirmed that some of the proposals will require further consultation in spring 2018 before a decision is made on their implementation.

Driving Instructors Association (DIA) chief examiner Mark Jaffe welcomed the new idea and said the DIA had been pushing for improved rider training standards “for a number of years”.

Making these training improvements will help ensure that motorcyclists have the skills and knowledge they need to help them stay safe on our modern and busy roads.

Mark Winn, Head of Cycling and Professional Policy at the DVSA

“The results of the consultation show support for the changes that we believe are long overdue,” he said.

“The changes will increase the importance of riders receiving the correct training for the machines they are riding and reduce the number of casualties through better and more targeted training.”

Others also welcomed the proposals, but stressed that mopeds and scooters should always be accessible to new drivers as they are an affordable mode of transportation for many.

Karen Cole, Motorcycle Industry Association (MCIA) Director of Safety and Training, said, “We welcome the publication of responses to the consultation on Modernizing Motorcycle Education and look forward to working with the Motorcycle Industry Association. DVSA to significantly improve the safety of bikers in the future.

“It is important, however, that motorized two-wheelers remain accessible, as they are the only affordable form of transportation for many people and an increasingly important part of our transportation mix as commuters seek solutions to creeping traffic jams. . “


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Okinawa Rents Electric Scooter Price In India, Specifications, Range, Photos

Okinawa, one of the latest electric two-wheeler manufacturers in India, recently launched the new Okinawa Praise electric scooter. The new electric vehicle went on sale at an ex-showroom price of Rs. 59,889 (ex-showroom, Delhi). The Okinawa Praise electric scooter has a top speed of 75 km / h and a range of 170-200 km on a single charge. You can book the new Praise electric scooter for an amount of INR 2,000. The electric scooter can be financed from HDFC bank branches with easy repayment options.

ALSO LOOK- Bajaj electric bike

Okinawa praises the price of electric scooter in India

You can book the new Praise electric scooter for an amount of INR 2000. Okinawa’s new electric scooter went on sale for an ex-showroom price of Rs 59,989. In comparison, the Ridge costs Rs 43,702. However, the new Praise e scooter offers many more features to justify the price. higher than its cheaper brother.

Okinawa praises electric scooter images

Specifications of Okinawa Praise Electric Scooter

It is powered by a 1000 W electric motor while the Praise’s 72 V, 45 Ah lithium-ion battery offers a claimed range of 170 to 200 km. The Praise is offered with three speed modes Eco (maximum speed limited to 35 km / h), Sport (65 km / h) and Turbo (75 km / h).

The seat height is 774 mm, which makes it easier to get on and off, while the ground clearance is sufficient at 170 mm. Like the Ridge, the suspension tasks at the front are handled by a telescopic fork while the rear uses a dual-shock suspension. The 12-inch alloy rims are fitted with 90/90 R12 tubeless tires.

Okinawa praises electric scooter images

Features of the Okinawa Praise electric scooter

  • LED lights
  • Digital speedometer
  • Speed ​​Modes – Economy, Sport and Turbo
  • Anti-theft sensor
  • Telescopic front fork
  • Gas rear suspension
  • Aluminum alloy rims
  • Tubeless tires
  • Mobile charging point
  • Large trunk space
  • Keyless start
  • Keyless ride
  • EABS (Electronic Assisted Braking System)

Colors of Okinawa Praise electric scooter

  • Shiny purple / double tone black
  • Matt Blue / Black
  • Matt gold / Black

Okinawa praises electric scooter images
Commenting on his latest offering, Mr. Jeetender Sharma – Founder and Managing Director of Okinawa Scooters said, “With Praise, Okinawa’s years of painstaking research have finally found tangible form. Across the industry, it has been regarded as one of the most complete electric scooters ever built, with a combination of superlative design and technology that gives it immense power. Each feature of “Praise” was added after careful consideration of the needs and preferences of the riders who came after the careful selection of each component and the endurance testing of a commendable day of approximately 25,000 km in different parts of the country which make their commuting experience so much easier. . In an effort to further facilitate interested buyers to opt for ‘Praise’, HDFC Bank, in partnership with Okinawa, will provide easy financing options for the electric vehicle with loans of up to 80% of the road price of the electric scooter. . This offer will be available on a pan-Indian basis, facilitating the growing electric vehicle market in Tier I, II and III cities. We strongly believe that “Praise” will be well received by Indian users and will prove to be the harbinger of a new era of electric vehicle revolution on Indian roads. “

The iconic Vespa scooter, now 70, gets an all-new electric powertrain

The Vespa scooter is undeniably an icon on European streets.

For 70 years, Vespas have been buzzing on the roads, but the buzz will soon give way to an almost silent buzz in the company’s latest scooter.

Earlier this month at the Milan Motorcycle Show, Vespa announced its first all-electric scooter, dubbed the Elettrica.

DON’T MISS: Volkswagen E-Scooter: the electric bike will compete with Smart and MINI

The Elettrica trades in a small gasoline-tank combustion engine for a lithium-ion battery and an electric motor with a continuous power of 2 kilowatts and a peak power of 4 kilowatts.

The electric Vespa offers better acceleration than a traditional scooter, with more power than typical 50 cc scooters.

For Europeans, the idea of ​​a silent scooter can be a relief; the buzzing and howling of mopeds and scooters is a common sound and often adds to urban noise pollution.

All electric Vespa Elettrica scooter

However, Vespa will also introduce an Elettrica X model with an extended runtime generator, so not all Elettrica will be entirely silent.

All-electric Vespas will travel up to 100 kilometers (62 miles) on a single charge, but the Model X doubles that range to 200 kilometers (124 miles).

Cyclists can plug the electric scooter into a standard outlet and fully charge it in four hours, and public charging stations will also work.

READ THIS: Can scooters save the planet? We have our doubts

While the Elettrica remains true to the iconic Vespa design, the electric scooter contains more technology than ever before.

Cyclists, for example, will find an integrated 4.3-inch touchscreen with smartphone connectivity, a far cry from the original Vespa’s only speedometer.

Vespa will also launch an app to connect a pilot’s cell phone via Bluetooth to manage calls and music.

All electric Vespa Elettrica scooter

All electric Vespa Elettrica scooter

Vespa plans to offer the electric scooter in a chrome gray finish, although buyers can choose from seven different trim color options.

While scooters are not as popular in the United States as in Europe, the Elettrica will be offered worldwide.

CHECK OUT: UK to ban sales of diesel and petrol cars by 2040; follows the bans of France, Norway and the Netherlands

The switch from Vespa to electric scooters follows measures taken by many European countries to ban the sale of new cars powered by an internal combustion engine, from 2025.

The Piaggio Group will start production of Elettrica next year and electric scooters will hit the road soon after.


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Price of Mahindra Gusto RS scooter in Nepal

mahindra gusto rs nepal

Mahindra has now come up with a sleek new Gusto RS model. Official Mahindra distributor, Agni Moto launched its new Gusto RS model in Nepal at an attractive price of Rs. 1.67.500. The finance facility comes with a down payment of 35% to 40% with an interest rate of 17%.

The 109.6cc Mahindra Gusto RS is a 4-stroke single cylinder engine that is air-cooled and SI engine. Mahindra Gusto RS is capable of producing a maximum power of 6 kW (8.0 hp) at 7,500 rpm and a maximum torque of 9 NM at 5,500 rpm. It uses a CVT transmission for more usable power, better fuel economy and a smoother driving experience. Mahindra has stated that the Mahindra Gusto RS’s top speed is 80 km / h.

SEE: Terra Motors Electric Scooter Acuto Launched in Nepal at Rs. 2,35,000

Mahindra Gusto RS comes with a 6 liter tank capacity which allows a mileage of 45 to 55 kmpl. Mahindra Gusto RS may be one of the more fuel efficient scooters with a higher tank capacity than Hero Duet.

Mahindra Gusto RS weighs around 120kg and offers 165mm ground clearance with 770mm seat height. The ground clearance offered by this scooter is superior to that of all its competitors. The total length, width and height of this product would be 1825mm, 697mm and 1188mm respectively. The front suspension of Mahindra Gusto RS is telescopic with air spring while the rear suspension of Mahindra Gusto is of the helical, hydraulic type.

What security features are provided?

Safety devices are the essential thing to check when buying bicycles and scooters. Mahindra Gusto RS provides a 130mm mechanical drum front and rear. It consists of a large tubeless tire. Alloy type wheels are used in this scooter. The Mahindra Gusto RS wheelbase is 1275mm. The wheel size of the Mahindra Gusto RS is 12 inches, which is 2 inches larger than the Hero Duet VX.

Color variants

The color choices that come with Mahindra Gusto RS are blue and red. The color choices offered to customers are comparatively lesser by Mahindra in the case of Gusto RS.

What’s new in Mahindra Gusto RS?

Some features that differentiate Mahindra Gusto RS from other scooters are as follows:

  • Large tubeless tires
  • Telescopic suspension with air springs
  • Height adjustable seat
  • Flip remote key
  • High ground clearance

Mahindra Gusto RS Key Specification

  • Motor Aff. : 109.6 cm3
  • Maximum power: 6 kW (8.0 hp) at 7,500 ± 500 rpm
  • Maximum torque: 9 NM @ 5500 ± 500 rpm
  • Mileage: 45-55 kmpl
  • Number of gears: Automatique
  • Breaks: Tumble
  • Type of wheels: Alloy Wheels
  • Petrol tank : 6 liters

Price of Mahindra Gusto RS scooter in Nepal: Rs. 1 67,500

Mahindra Gusto RS can be a good value offering in the given price segment. There are various features provided by this scooter which puts it against its rivals. The high ground clearance and adjustable seat set it apart from other scooter models such as Hero Duet VX, Honda Dio, Honda Activa 125, etc. Mahindra Gusto RS also contains a large tubeless tire with a 12 inch wheel size which adds to the characteristic safety of the scooter.

Images: ZeegWheels

Are car title loans included in bankruptcy?

When you’re in debt or need money to pay your bills, taking out a car title loan might seem like a great way to access cash quickly. But if your money troubles get out of hand and you resort to filing for bankruptcy to settle mounting debts, what happens to the vehicle you gave as collateral in exchange for that car title loan?

Depending on whether you are pursuing Chapter 7 or Chapter 13 bankruptcy, it may be possible to include your title loan in a bankruptcy filing and have the loan discharged, or at least restructured to provide higher payments. manageable. But you can also lose your vehicle if you are unable to meet the loan repayment terms. Here are your options.

Title Lending and Chapter 7 Bankruptcy

Chapter 7 bankruptcy is often referred to as liquidation. As part of the Chapter 7 filing, unsecured debts can be discharged. This includes credit card debt, medical debt, personal loans, and even promissory notes. As part of the process, your the non-exempt property will be sold and proceeds used to repay creditors.

A title loan, however, is not an unsecured debt; it is secured by your vehicle. When you borrow money through a car title loan, you give the vehicle to the lender as security for that loan. In plain language, you signed the pink slip on your car in exchange for some cash. As a secured loan, a security the loan cannot be discharged in Chapter 7 bankruptcy.

“While state laws vary, generally all secured loans remain in effect,” says Michael Sullivan, personal financial consultant at Take Charge America, a nonprofit credit and financial counseling agency.

Since the loan remains in force, you will either have to pay off the debt in full or work out a manageable payment plan with the lender who holds the title loan. If neither of these options is possible, you can also choose to return the vehicle.

There are also cases in which courts will allow securities loans to be settled through Chapter 7 proceedings, says Lamar Hawkins, a bankruptcy attorney at Guidant Law and chair of the Bankruptcy Law Advisory Commission. Arizona Board of Legal Specialization.

“The bankruptcy court discriminates against predatory lending, and title lending is generally predatory,” Hawkins says, adding that in some cases the court will “rewrite the loan at a market rate based on the value of the vehicle, and make so that the lender receives payments on time, so that the borrower can keep the vehicle and maintain transportation.

But remember that title lenders are generally aggressive and will repossess a vehicle in the event of default, so be sure to continue making payments before, during, and after your bankruptcy case closes.

Title Loans and Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a restructuring of your debts, and this process includes secured debts such as car title loans, general auto loans, and even mortgages. Under Chapter 13, some unsecured debts can even be forgiven. Those that are not forgiven are reorganized and must be repaid over time.

“Chapter 13 allows you to create a repayment plan where you pay money each month to a trustee. So, at the end of the repayment plan, you’ve paid either the fair market value of the car based on the date the case was filed…or the total owed, whichever is lower,” says the New Jersey bankruptcy attorney Edward Hanratty.

As part of a Chapter 13 filing, you can also reduce the amount of monthly payments you need to make to make them more affordable. Additionally, if the interest rate on the title loan is high, you can also lower the rate through the Chapter 13 process, says Dai Rosenblum, a Pennsylvania bankruptcy attorney.

While there is always a risk of losing your vehicle in Chapter 13 bankruptcy filings, you have many more options for restructuring your debt to prevent this from happening.

Talk to your lawyer about your title loan upfront

When filing for bankruptcy with the help of a lawyer, it is important that you are transparent about all your assets, as well as all your debts and outstanding debts, including your title loan. Not disclosing your title loan will only cause more problems.

“When you file for bankruptcy, you are declaring — under penalty of perjury — that you have listed all assets, including the car, and all debts, including the title loan,” Rosenblum says. “Furthermore, a lawyer cannot solve a problem if he does not know it exists.”

Also, not including all of your debts as part of a bankruptcy case could result in your case being thrown out.

“Or in an extreme case, it could result in jail time for bankruptcy fraud,” says Hanratty. “Prevention is better than cure on this.”

The bottom line

Car title loans can be settled through bankruptcy, but how this type of debt is handled will depend on whether you pursue Chapter 7 or Chapter 13 bankruptcy. Options include debt restructuring, full repayment of the debt or the return of the vehicle to the lender.

Before taking any action, consult a bankruptcy attorney who can help you sort through the options and determine the best course of action.

At Risk Car Title Loans – WFTV

Video: Action 9 Investigates Risky Car Title Loans Action 9 is investigating car title loans that consumer groups say are hitting customers with abusive repos and punitive fees.

KISSIMMEE, Fla. — Action 9 investigated a high-interest car title loan that could ruin borrowers’ finances and that Florida banned years ago.

Todd Ulrich of Action 9 revealed how new lenders have used loopholes to circumvent the ban, trapping Central Florida families with payments they can’t afford.

Dan Pagan was unemployed and desperate to pay his rent when he found a car title loan offer online. He sent the title of his Toyota vehicle to Marlin Financial for a $2,000 loan.

“It took about 3 hours and then the money was transferred immediately,” he said.

Pagan said he expected late fees when he missed his first $300 payment, but instead his car disappeared.

“I panicked,” he said. “I panicked. I wanted to know where my car was.”

A pension company took it, triggering a buy-back clause. Pagan learned that it would cost him nearly $7,000 to get his car back.

“I almost cried in tears and asked, ‘How much more? “”, Did he declare.

Consumer groups say title loans are hitting customers with abusive repos and punitive fees.

The state legislature banned high interest rates on car title loans 17 years ago. Many lenders left the state because the law capped rates at 30%. Some companies have come back and are using loopholes to sell title loans.

Sandra Arce borrowed $1,800 against her car title from InstaLoan. Paying off the loan over three years cost him more than $7,000.

“They just took advantage of me. That’s all they did,” Arce said. “And that’s not right. That’s not right.”

The interest rate on his policy seems low, but the extra insurance costs are costing him more than $200 a month.

“They never (explained) anything to me,” Arce said.

Ulrich traveled to Instaloan’s Kissimmee location for answers.

“I have questions about insurance costs. Is that fair?” Ulrich said.

“No, and you have to go out,” said a manager.

Consumer advocates said the additional fee drove interest rates up to 140% or more.

Bill Sublette, President of Orange County Public Schoolswho was previously a state official, led efforts to ban high-interest securities lending in 2000.

“They grab you, then don’t let you go,” he said.

Ulrich asked Sublette about the loopholes lenders are now using.

“I would ask (the) state attorney general to carefully consider these issues that you have reported in your investigation,” Sublette said.

Pagan said his car was sold at auction this week and he lost thousands.

“What they’re doing to people, it really hurts,” Pagan said.

Marlin Financial and Instaloan did not respond to Action 9’s request for comment.

In 2016, the Consumer Finance Protection Bureau fined TMX Finance, Instaloan’s parent company, $9 million for misleading customers about loan fees.

The CFPB ordered the company to cease its illegal practices.

Advantage Finance LLC Now Offers Extended Payment Plans for Auto Title Lending and Title Lending Buyouts in Houston and Area

Stuck in a 30 day title loan? visit our website for a quick quote.

Advantage Finance, LLC, a full-service auto title loan finance company serving Houston and surrounding areas, recognized a need in the auto title loan industry: to provide consumers with an alternative to high-cost auto title loans. short term and interest only. Advantage responded to this need by offering consumers title loan buy-back programs with principal and interest loans with extended repayment periods. Advantage pays off the consumer’s short-term loan by arranging a longer-term title loan with better terms for the consumer. The repayment schedule for these loans includes both principal and interest, which is often less than the interest on the consumer’s original loan. This arrangement helps consumers by leveling their payments and making it easier to repay the loan.

According to an Advantage manager, “We help many consumers who are locked into very short-term home loans; some as short as thirty days. We complete a title loan buyout by arranging for them a new title loan with an extended repayment plan. In these cases, the repayment schedule includes both principal and interest. These are not interest-only loans. This is a great benefit for people as it reduces and smooths out their repayments.

Here’s how the program works. A consumer with a very short term auto title loan (usually 30 days) works with one of Advantage’s representatives to complete what is called a “Title Loan Repayment”. Advantage arranges a new title loan with an extended repayment period to pay off the current short-term loan. Additionally, the repayment plan for this new loan includes both principal and interest, often with a lower interest rate. The consumer is helped in two ways: by reducing the monthly payments and by granting him a longer period to repay the loan. This program is, in effect, a refinance of the original title loan.

“It’s a win-win situation for our customers and for us. We are able to help them restructure their debt, and they can reduce their monthly payments and smooth their repayment schedule. Our goal is to provide a service to the community that is both valuable and fair,” says an Advantage manager.

The Advantage Finance team, with four locations in Houston, offers the most comprehensive set of auto title lending options in the market today. For more information and to connect with one of our professionals, visit our website.

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Advantage Finance, LLC.


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All-electric Vespa scooter unveiled with 62 mile range

Exactly twelve months after Vespa announced its intention to unveil an all-electric scooter, the Italian company did just that, unveiling the Vespa Elettrica at the Milan Motorcycle Show.

Piaggio, Vespa’s parent company, claims the Elettrica has a range of around 62 miles (100 km) and that it will take four hours of charging from a normal wall outlet to fully charge the battery.

Interestingly, Piaggio admits that future buyers should only expect 10 years of battery life. Additionally, 1,000 charge cycles will reduce the battery to 80% of its original capacity.

In terms of scooter design, the example shown is immediately identifiable from other Vespa models with a silver paint job and bright blue accents. For customers wishing to express their personality, six other colors will be available.

A 4.3 inch TFT color screen is also located between the handlebars and displays all important information about the scooter. The display also includes Bluetooth, allowing owners to pair their phones and view incoming text messages and phone calls on the screen.

Shortly after the Vespa Elettrica arrives in showrooms, a hybrid version with a gasoline generator, dubbed Elettrica X, will arrive with a range of 124 miles (200 km).


Upcoming cars, scooters, motorbikes in November: Ford EcoSport 2017, Honda Grazia, Renault Captur and more

Next cars, scooter, bike in Novembermanufacturers

The holiday season has seen the arrival of many new cars and motorcycles in India. In the coming months, too, more are expected as automakers are in a good mood to roll up their sleeves to announce their latest offers. November is supposed to see the debut of many new models.

As automakers look to turn the tide with new offerings, here we’re going beyond the specifics by listing everything you need to know about the cars and bikes coming in November.

Renault Captur (November 6)

Renault Captur
Renault CapturRenault media

French automaker Renault is set to launch its new Captur premium SUV in India on November 6. The SUV was unveiled in the country in September and is open for reservations at dealerships. It can also be booked through the company‘s website and the Renault Captur app.

As opposed to the new Jeep Compass and Hyundai Creta, the Renault Captur is based on the same platform as that of the Duster. Under the hood, Captur will get a 1.5-liter four-cylinder diesel and a 1.5-liter gasoline engine that powers the Duster. While the gasoline mill can generate 104 hp at 5,600 rpm and 142 Nm of maximum torque at 4,000 rpm, the diesel engine produces 108 hp at 4,000 rpm and maximum torque of 240 Nm at 1 750 rpm. The transmission in the next SUV will likely be handled by a six-speed manual gearbox of both gasoline and diesel.

The price of Captur should be between Rs 12 lakh and Rs 16 lakh.

Suzuki Intruder 150 (November 7)

Suzuki GZ150
Suzuki GZ150Suzuki

Suzuki India seems to be expecting an exciting launch in November. Pictures of the new Suzuki Intruder 150 cruiser have appeared online. Taking inspiration from the flagship 1,800cc Suzuki Intruder, the new Intruder targets the 150cc cruising motorcycle segment in India, which is now dominated by the Bajaj Avenger 150.

The new Suzuki Intruder 150 will share its engine with the Gixxer. The 154.9cm single-cylinder engine, which currently develops 14.5bhp at 8,000rpm and peak torque of 14Nm at 6,000rpm, could be readjusted to suit the cruising bike.

The Suzuki Intruder is expected to come with features like the LED spotlight and raised instrument cluster, as well as an LED tail light. It is likely to have telescopic forks up front and a mono-shock unit in the rear, while braking could be provided by disc brakes at both ends.

The Suzuki Intruder is also likely to get single channel ABS and dual exhaust and it is expected to be priced around Rs 1 lakh.

2017 Mercedes-AMG CLA 45 and GLA 45 (November 7)

German automaker Mercedes-Benz will expand its AMG portfolio in India with the addition of two new entry-level models – AMG CLA 45 and GLA 45. The SUV and four-door coupe are expected to launch on November 7.

The Mercedes-AMG CLA 45 and GLA 45 are powered by the same 2.0-liter, in-line 4-cylinder turbocharged engine, which can produce a maximum power of 375 hp and maximum torque of 475 Nm, mated to the sport AMG Speedshift DCT at 7 speeds. transmission.

The coupe and four-door SUV will have a black finish with yellow accents and get features like an 8.0-inch touchscreen infotainment system, blackened alloy rims, projector headlights with tail lights. LED daytime running lights, LED taillights and more.

Honda Grazia (November 8)

Honda Grazia
Honda GraziaPublic relations document

Honda 2Wheelers announced reservations and the arrival of the new Grazia in India last week. The Grazia, which is slated to be a 125cc automatic scooter, will launch in the country on November 8. The scooter is now open for reservations at the company’s dealers against a deposit of Rs 2,000.

The Grazia – the new “advanced urban scooter” – targets “young and confident” cosmopolitan India. The new Honda Grazia is expected to feature dual headlights with LED lighting, a new dashboard, front storage, a USB charging port and an LED tail light. The automatic scooter is likely to have black colored alloy wheels and a front disc brake, while it should also be equipped with the Combined Braking System (CBS). The telescopic front suspension would also be part of the upcoming model.

Read also : Honda Grazia scooter set to launch in India on November 8

Power will likely come from an air-cooled 124.9cc 4-stroke engine that does the job of the Honda Activa 125. The engine produces 8.52hp at 6500rpm and peak torque of 10.54Nm. at 5,000 rpm. Scheduled for a price of around Rs 65,000, the new Grazia will face Suzuki Access 125, Vespa VX 125 and Mahindra Gusto 125.

2017 Ford EcoSport facelift (November 9)

Ford EcoSport facelift
Ford EcoSport faceliftFord India

The highly anticipated new Ford EcoSport will launch on November 9. Reservations are open at some of the company’s dealers.

Also read: Clearance sale: Ford EcoSport gets discounts of up to Rs 1 lakh

The new Ford EcoSport gets a facelift and welcomes a host of new features. It has a revised front grille, a new set of headlights with LED daytime running lights and a set of alloy wheels. The list of features for the new EcoSport includes a touchscreen infotainment system with SYNC 3 and emergency assistance, cruise control, speed limiter function, rear view camera and automatic climate control. On the safety side, ABS and airbags are standard on all variants.

Under the hood, the new EcoSport receives new gasoline engines of the Dragon series. The current 1.5-liter Ti-VCT engine is replaced by the 1.5-liter Dragon engine with an output of 123 hp at 6500 rpm and 150 Nm of torque at 4500 rpm. The 1.5-liter TDCi diesel engine is chosen for the new EcoSport.

Lexus NX300h (November 17)

Lexus NX300h
Lexus NX300hLexus

Lexus India is set to add a fourth model – NX300h to its portfolio. The NX was Lexus’ third best-selling vehicle of 2016 behind the RX crossover and ES sedan. The variant to India is expected to be the NX300h and it has a hybrid engine under the hood. The 2.5-liter four-cylinder petrol engine will be mated to an electric motor that will produce a combined output of 194 hp. The crusher will be associated with an electronically controlled CVT unit.

The new Lexus NX300h will face affordable competitors like the Mercedes-Benz GLA and the Audi Q3.

Maruti Suzuki Celerio X

Maruti Suzuki Celerio
Maruti Suzuki Celerio special version unveiled at Auto Expo 2016IBT Media / Ken Sunny

Maruti Suzuki is set to add a new twist to its Celerio hatchback saga with a new model-based crossover. Dubbed Celerio X, the gridline launch could happen anytime now.

In terms of dimensions, the Celerio X is expected to be longer and wider than the regular Celerio hatchback. It is now 3,715mm long, 1,635mm wide, 1,565mm high and comes with the same wheelbase of 2,425mm. It offers 120 mm ground clearance and has a 235-liter trunk. Under the hood, the Celerio X will be powered by the same 998cc petrol engine from the K-series of the sedan which produces 67bhp of power and 90Nm of torque.

The Celerio X gets a black body kit with features like the matte black rear bumper, black wheel arch liner and black side moldings. Up front, the new Celerio X receives a two-tone bumper with a new grille.

VIDEO: Southampton scooter group steps up fight against cancer

THEY ditched their leather jackets and parkers and chose tutus in the fight against cancer.

A group of Southampton scooter enthusiasts have grown stronger and are encouraging the people of Hampshire to follow their example and help raise funds for Stand Up To Cancer.

Angie Ayres and her Mod friends – locally nicknamed the Southampton Meerkats, know all too well the devastation cancer can cause.

Two years ago, Vespa‘s rider Angie, 54, learned she had breast cancer.

At the time, she had just lost her beloved father George to the same illness and had returned from Cardiff to Southampton to care for her mother.

Angie underwent two cycles of surgery, the first to remove a lump, and then a second operation after surgeons found more cancer cells and removed her lymph nodes.

Angie said: “From the day I was diagnosed until theater it was all so fast, I didn’t have time to process it – I just got down to it.

“My first thought was ‘what’s the plan of action?’

“Some people go to the depths of despair but because of my father I got angry. I decided that cancer was not going to catch me.

Angie, who now works for Mencap in Portswood, says she was supported by her partner Phil, 52, whom she met at a scooter rally when she returned to Southampton.

In May 2015, Angie started chemotherapy and seven months later had her last radiation therapy session on Christmas Eve.

She said, “My whole life has changed because of cancer. That’s why my friends and I are showing our support for Stand Up To Cancer and don the crazy orange wigs and tutus.

“It’s a fun and easy way to get involved and help raise funds to save more lives. ”

Stand Up To Cancer is a joint Cancer Research UK and Channel 4 fundraising campaign aimed at delivering pioneering new tests and treatments to cancer patients faster.

Jenny Makin, Cancer Research UK spokesperson for Hampshire, said: “We would like to thank Angie and the Southampton Meerkats for their colorful support and getting into the spirit of Stand Up To Cancer.

“We are asking men, women and children across the county to wear orange, pay and eliminate cancer.

“By supporting, they will help raise funds and transform the lives of cancer patients and their families. ”

Since launching in the UK five years ago, Stand Up To Cancer has raised over £ 38million for more than 40 clinical trials and research projects.

Could Car Title Loans Ruin Your Finances?

One in five people aged 45 to 64 with an income of less than $50,000 used a vehicle for a short-term loan. And about a third of people age 65 and older have received car title loans.

“The reason almost everyone gets these loans is normally to pay an immediate expense,” like a gas or electric bill or a credit card bill that’s due, Speer says.

But the average person who borrows $1,000 from a title lending company usually ends up paying back about $3,000 to $4,000, he says.

So while the car title loan might help pay the original bill, “now your condition is much worse,” Speer says. “Overall it’s going to end up being an even bigger crisis and your situation is going to be much worse.”

Repeat messages left with the American Association of Responsible Auto Lenders, an industry trade group, were not returned. However, Pat Crowley, spokesperson for the Ohio Consumer Lenders Association, which represents incumbent lenders in that state, says the loans are “very affordable” compared to alternatives. “We’re fully regulated. We’re very transparent about the fees we charge, and our fee structure is very clear,” Crowley says.

“We believe auto title loans are actually cheaper than other types of unsecured loans,” he says.

Here’s how car title loans work

When you get a title loan, it’s a short-term loan – usually just one month – that you secure with the title to your vehicle. Although the majority of title lenders require you to own your car, some do not. Either way, the lender puts a lien on your car. When you repay the loan, the lien is removed and you get your title back. Sounds pretty easy, right? Generally speaking, it is. Even retirees can get car title loans, as long as they have valid photo ID and proof of vehicle ownership. In many states there is not even a credit check.

The amount of the loan is based on the appraised value of the vehicle, and it is common for consumers to be able to borrow between 30 and 50% of the value of their car.

What are car title loans? – Chronicles of Times Square

Once you’ve decided to get a car title loan, it’s extremely important to know what you’re getting into, otherwise loan services can unduly benefit you. It’s an amazing opportunity to get some quick cash when you own a vehicle with a good free and clear title. However, you need to be sure that if something gets worse and you are unable to repay the loan, you will have to submit the car title to the money. In a nutshell, the car is used as collateral.

Many people find this method convenient. Getting a small loan with vehicle title can be very appropriate. When you are sure that you will be able to repay the amount borrowed and the interest amount, this may not be a problem. However, with some people it starts well but turns out to be a nightmare in the end. However, you can visit to get a better idea.

The process

Taking a car title to a title loan service requires that there is absolutely no outstanding debt against anyone. Many companies may also require you to be fully insured. It is a positive sign. Even if the lending service holds the title to the car, you will be able to use the car. However, some title lending services may lend you money and just keep the car with them until the loan is paid off if the car is uninsured.

The amount of money a borrower will receive will depend on which securities lending service you use. Some might give you more money than another. Some have set amounts of money they lend while many vary in their lending ability depending on the client they meet. In the case of variable services, the amount of cash you receive may depend on the value of your car. This opens the door to opportunities to get the best deal in the market.

Many services have set a limit on the number of times you can get a loan from their platform in cases where you have not repaid their money. These loans are handled the same way as normal payday loans, but the thing you’re risking here is your car title.

In scenarios where you do not meet the terms of the loan agreement, the title loan service has the absolute right to repossess your vehicle. It is very important for you to be positive about the transaction.

A car title loan can be a good thing in an emergency. If you are struggling financially and own a car, then loaning your car can be a good idea to meet your financial requirements. There are a multitude of services that can help you acquire good car title loans, but trusting them all can be a mistake. Go for quality services with additional features and facilities that are ready to understand what your needs and demands are and are ready to serve you in the best possible way.

Now Honda 2wheeler is planning a scooter-bike crossover; to unveil it at Auto Expo, Auto News, ET Auto

MUMBAI: Honda Motor combines the convenience of a scooter with the agility of a motorcycle to produce a crossover two-wheeler for the Indian market.

The idea came from the four-wheel market, where crossovers are very successful. Honda Motorcycle & Scooter India is developing the crossover locally and is expected to unveil it at Auto Expo next month and start offering it to buyers in April or May.

The project is internally called K74, people in the know. Honda did not reveal details of the project, but said in a press release that the vehicle would be aimed at “India’s young pioneer” and create a new segment in the Indian two-wheeler landscape. The product will be marked NAVI, he said.

K74 is the first project of the newly formed Indian R&D center, which manages its development from concept to production version, the sources said.

It will be powered by the 110cc engine which tows the Activa scooter and is likely to have a variomatic transmission.

The vehicle is not a moped or stepper vehicle as seen in Southeast Asia, so it will carve out a new segment for itself in the country, a source said. “This is version 2.0 of Bobby – an original two-wheeler, on which Bollywood actor Rishi Kapoor was first shown in the 1970s. The NAVI is a more modern avatar.”

The NAVI will be manufactured at the company‘s existing plant in Manesar, Haryana.

Honda Motorcycle & Scooter did not respond to an email requesting details of the new vehicle.

A short-term challenge for the company will be the largely untested behavior of consumers towards two-wheeled crossovers in India, said VG Ramakrishnan, managing director of Aventeum Advisors. There have been a few unsuccessful experiments in the past with designing a scooter built into a motorcycle engine, like the Bajaj M80 and Hero Street, he said.

The design of the vehicle will be very critical to the success of the vehicle. “You have to see what design philosophy these products adopt and consumer reactions to those designs,” Ramakrishnan said.

Since Indian group Hero Group and Honda split in India, the Japanese company has been on a dream run, with its market share doubling to 26%. While the company has dominated the scooter market by capturing more than half of the market, its presence in the motorcycle space has remained fairly modest at 14%.

With the exception of the Honda Unicorn and Shine, other attempts by Honda have increased the volumes but not the motorcycle market share by much. The company has been successful in winning over family buyers with its scooters and more mature buyers with the Unicorn and Shine, but it hasn’t been able to appeal to young people as much despite interventions like the Stunner and Twister.

The attempt with this crossover is part of a major change in strategy to appeal to young people. In a big marketing stunt, the Honda Revfest, it unveiled or launched a range of bikes under the CBR family (150, 250, 650). He also launched a new 160cc motorcycle, the Hornet.

The crossover is one of 10 new models that will be presented at Auto Expo. The 10 include six Indian launches and four concepts.

While the company has been quiet about vehicle details, the marketing campaign for the NAVI began on January 1. In his press release, Honda said: “We are here to change the way India plays with two wheels … NAVI is about to excite the young pioneer from India and create a new segment. in the Indian two-wheeler landscape. “

The vehicle is designed in such a way that it opens up a significant opportunity to modify and accessorize it according to the tastes of the user, said a person familiar with the plan.

The company is talking about a limited volume of around 1 lakh per year to start. If the concept takes off, it is ready to ramp up production.

Lawmakers seek to end triple-digit interest on payday loans and car titles

By Charlene Crowell / NNPA Newswire

A group of Washington lawmakers are joining forces and influence to legislate a crackdown on predatory lending nationwide.

Seventeen U.S. House lawmakers and eight U.S. senators are backing companion bills that would cut the cost of payday loans and car titles from their typical 300% annual interest rate to no more than 36 % – the same rate protection that Congress first provided to military families in 2006.

Today, 90 million Americans living in 15 states and DC enjoy rate caps of 36% or less.

But in the other 35 states, residents remain vulnerable to triple-digit interest rates that average 400% nationwide on an average loan of just $350.

When consumers use their car titles as collateral for a larger and equally expensive loan, personal transportation loss occurs when borrowers can no longer afford the skyrocketing costs.

If enacted, the legislation is expected to have an immediate impact on payday and car title loans, but would ensure that all consumer financial services would end cycles of debt that trick and trap unsuspecting consumers into debt. long-term.

The bicameral effort is led in the US Senate by Senators Dick Durbin of Illinois and Jeff Merkley of Oregon.

Their leading counterparts in the House of Representatives are Matt Cartwright of Scranton, Pennsylvania and Steve Cohen of Memphis, Tennessee.

“Predatory lending disproportionately hurts people who are already in financial difficulty,” Rep. Cartwright noted, where in Pennsylvania these kinds of predatory, high-cost lending are already prohibited by state law. “This consumer-friendly legislation would relieve the exorbitant costs for many low-income consumers across the country.

Cartwright’s House colleague Rep. Cohen felt the same way. “Throughout my career, I have always worked to protect people from those who would take advantage of them through predatory lending practices that can wreak havoc in people’s lives and perpetuate a cycle of debt,” he said. -he declares. “Justice and morality dictate that reasonable caps on interest be adopted to protect borrowers from sneaky lenders.”

From the Deep South to the Pacific Rim, and west to the mid-Atlantic and Midwestern states, state payday interest rates range from 662% in Texas to 460% in California and 601 % in Virginia.

Similarly, in the Midwest, the states of Illinois, Missouri, Ohio, and Wisconsin have comparable high interest rates that all exceed 400%.

In Alabama and Mississippi, two of the poorest states in the nation by per capita income, payday interest rates are 521% and 456%, respectively.

“What we’ve seen across the country is that when voters are given the option to support a rate cap, large majorities consistently say ‘No’ to debt-trap loans,” said Yana Miles, Senior Legislative Advisor at the Center for Responsible Lending. “When it comes to state legislatures, reform efforts are often thwarted by industry.”

Already more than 40 national, state and local organizations have jointly written to their members of Congress in support of the legislation.

Signatories to the correspondence include civil rights organizations, trade unions, consumer rights advocates and research institutes.

Posters advertising short-term loans hang outside stores in Birmingham, Alabama, U.S., Tuesday, Feb. 10, 2015. In Alabama, the sixth-poorest state with one of the highest concentrations of lenders, advocates are trying to curb payday loans and land titles, a confrontation that clergy have presented as God versus greed. They’ve been blocked by an industry that’s morphing to evade regulation, flooding lawmakers with donations, holding hearings with lobbyists and even fighting a joint database meant to enforce a $500 limit on loans. Photographer: Gary Tramontina/Bloomberg

NIU N1s price in Nepal

Motor Vehicle Company, the authorized dealer of NIU electric scooters, has launched all new NIU N1s electric scooters in the Nepalese market. The NIU N1s price in Nepal is set at Rs. 2.65,000 (See below for updated price). The company recently launched the scooter at the NADA Auto Show 2017.niu n1s price in nepal

This scooter features a whole new technology: bespoke motor from Bosch GmbH, FOC vector control and Panasonic battery unit. As the company itself claims, it can travel up to 80 km after a full charge (20 km / h) and its top speed is 55 km / h. It also has LED headlight, LED turn signal light, LED tail light, LED brake light, LCD dashboard, central control unit, USB charging port, front and rear dual piston hydraulic disc brake.

ALSO LOOK AT: Honda launches 2017 edition of Dio Scooter in Nepal

NIU is new to the Nepalese market and has fierce competition in this category where the electric scooter market is booming. A popular brand like Hero has launched its first electric scooter named Photon which is very inexpensively priced to give competition to Chinese brands. There are many other brands like Terra, Tailg with good prices.

ALSO LOOK AT: The Terra Acuto electric scooter will soon be launched in Nepal

The average price of an electric scooter is around Rs 160,000 in the market and NIU N1s are priced at 2,65,000 which is very high and will struggle to compete with other brands.

Keeping the money factor aside, NIU delivers Bosch’s best motor and is powered by SIM cards to sync with the NIU app to provide real-time diagnostics and security with the NIU anti-theft tracking feature.

NIU N1s Key Specifications

  • Mileage (city): 80km
  • Top speed: 55 km / h
  • Number of gears: Automatic (3 modes: eco mode, normal mode and sport mode)
  • Battery capacity: 29 ah (60v)
  • Weight (dry): 95kg
  • Loading time: 5-6h
  • Nominal power :1500w
  • Maximum power: 2400w
  • Passenger weight: 155 kg (max)
  • Color variants: white, red, blue, black and gray

NIU N1s price in Nepal [Offer Price]: Rs. 2,49,000

For more details, contact NIU Nepal.

Why automatic title loans are a bad idea

If you’re strapped for cash and own your car freely, an auto title loan might seem like a great way to get some quick cash when you need it. But auto title loans are among the most expensive types of credit you can get, along with payday loans and pawnbrokers. All of these loans fall into the category of predatory lending: they target consumers who desperately need money and are therefore willing to pay ridiculously high prices for it.

How title loans work

Auto title loans use your car as collateral. Collateral is property that is used to secure a loan – in other words, it insures the lender against default. If the borrower fails to repay the loan on time, the lender has the right to take any property listed as security for the loan. It’s true: if you don’t pay off your car loan, the lender can take your car. Some auto title lenders will even ask you to install a GPS device in your car so that if they decide to repossess the vehicle, they can find you wherever you go.

Image source: Getty Images.

The cost of auto title loans

Auto loan lenders charge an average of 25% per month interest on the loan. That’s an annual percentage rate (APR) of 300%! Even credit cards only charge an average APR of 15.59%, and these are the most expensive traditional credit options. And you can expect an auto title loan to include a variety of fees in addition to exorbitant interest. In other words, if you were to take out a $1,000 auto title loan and pay it off 30 days later, you would owe the lender $1,250, plus who knows how much in fees.

Alternatives to title loans

Most consumers have much better options than an auto title loan, even if their credit score is poor. If you need money because you’re behind on paying your bills, contact your creditors and see if you can negotiate a debt reduction or at least a longer repayment period. If you’re really in over your head, a credit counseling service can help you put a debt repayment plan in place. Other options for getting some quick cash include a credit card cash advance (probably very expensive, but not as bad as a car title loan), a loan from a friend or family member, or a small loan or line of credit from your local bank. Even borrowing money from your 401(k) might be better than taking out an auto title loan.

Once you’ve gotten out of your current financial crisis, make it a priority to set up a emergency savings fund to protect you from similar situations in the future.

Get a title loan

If you decide you really have no choice but to get an auto title loan, shop around with different title lenders to get the best deal possible. Carefully review the terms of the loan and opt out of any “extra” features such as roadside assistance. If the lender insists you take such add-ons, find another lender. Find out about all the different fees listed on the loan documentation (there will likely be several) and try to negotiate to have these fees waived or at least reduced. If you push the lender hard enough, they may be willing to bend these costs a bit. Finally, avoid “rollover” offers. Title lenders will often allow you to pay only the interest on your loan and defer the principal to a new loan, but this will lock you into a never-ending cycle of escalating fees and interest.

Tulsa Couple’s Honeymoon Vespa Scooter Stolen

A couple from Tulsa say someone stole something they held dear while they were out of town.

Surveillance cameras show two people stealing their Vespa scooters.

The couple say the scooter was more than a means of getting around town.

It was a symbol of their first year of marriage.

Rebecca and Jordan Gaines enjoyed their honeymoon so much that they wanted to keep some of it with them.

“We rode Vespas on our honeymoon in Italy, we fell in love with them, so we got it because we had a great time,” said Rebecca Gaines.

Two months ago, the newlyweds bought their own Vespa to relive that happiness here in Tulsa.

Together, they walked it around town several times a week.

“You know, it was just something we loved to do. So it’s very sad that someone decided to take it.” she said.

“Yeah, two months after I got it,” Jordan Gaines said.

The couple returned home after a vacation to find someone who stole the $ 6,000 scooter from their detached garage.

Surveillance footage shows two people carrying the bicycle and carrying it in the back of a black van.

Rebecca works downtown and says she often commutes to work by Vespa.

But the Gaines say it’s not about transportation.

It’s that someone took something precious for them and their relationship.

“It’s more of an invasion of privacy. Someone who comes to your house, you work hard to make your house a home away from home. And they took over that and made it feel like a dangerous space, c ‘is difficult.”

If you know anything about the stolen Vespa or who took it, you are instructed to call Tulsa Police.

Lend a Hand program helps Arizonans repay car title loans

Four community-focused organizations are launching a program to rescue Maricopa County residents struggling to pay off high-cost title loans and help put them on the path to healthy credit and financial success.

The program is called “Lend a Hand” and is offered through a partnership between the Arizona Community Foundation, MariSol Federal Credit Union, Phoenix IDA and Take Charge America.

According to the Consumer Federation of America, Arizona is the seventh most concentrated title lending market in the nation. In its report, “Wrong Way: Wrecked by Debt,” the Federation also states that one in six borrowers in Arizona had to repossess their car and associated fees, which averaged half of the company‘s outstanding debt. ‘borrower.

“Individuals in our community face what is called a debt trap. They are caught in a vicious circle of exorbitant interest rates, excessive fees and unrealistic loan terms,” said Juan Salgado, executive director of Phoenix IDA. “The Lend a Hand loan program is an alternative for those who need help paying off their loan to avoid losing their car, ruining their credit or worse,” Salgado continued.

Here’s how the Lend a Hand program works:

  • Interested borrowers can download an application and view eligibility requirements at
  • Once the application is submitted, the borrower can schedule a free, confidential credit counseling session with Take Charge America to develop a budget and create an action plan to eliminate debt and save for the future.
  • MariSol Federal Credit Union will review the application for eligibility and reimburse up to $2,000 of the outstanding title loan for qualified applicants. MariSol will then convert the repaid amount into a new low-interest loan with better repayment terms for borrowers. MariSol will also help borrowers establish a savings account to fund future emergencies, requiring an initial savings deposit of $25 plus additional savings deposits of $10 for each month of the loan.

“The Lend a Hand loan program offers applicants favorable loan terms at no cost that will make sense for their budget,” explained Robin Romano, general manager of MariSol Federal Credit Union. “Approved borrowers will also become members of our credit union and enjoy the benefits and stability it offers,” Romano said.

According to a 2015 study by Pew Charitable Trusts, more than 2 million people, or about 1% of American adults each year, use high-interest auto loans and borrow against their cars.

“Studies prove what we already see when we drive down certain streets in Phoenix. Car title lending companies are concentrated in financially vulnerable communities,” said Elisa de la Vara, community manager at the Arizona Community Foundation. “Until Arizona policymakers act to further limit this industry, as they have done with payday lenders, this program provides a better option for residents who are struggling to pay their loans on car title,” de la Vara explained.

Take Charge America, a national nonprofit credit counseling agency headquartered in Phoenix, helps with the financial education component. “Our role is to focus on the long-term financial health of each candidate. As soon as you contact us, we’ll offer you a free credit counseling session, a thorough review of your credit report, and help you budget,” said David Richardson, CEO of Take Charge America. “Our goal is to provide the financial knowledge and resources needed to help borrowers avoid costly loan traps in the future,” Richardson added.

If you’re having trouble repaying a car title loan and you live in Maricopa County, call 1-877-822-2410 or visit The Lend a Hand loan program will be offered for a limited time while funding is available.

Scooter Riders Rally at Back to the Basics Skegness Scooter Rally 2017

Scooter drivers gathered in force for the Skegness scooter rally 2017. Like other scooter rallies in the UK and USA, Skegness is all about the people, tent and van camping, music and loads and loads of scooters.

Skegness is a seaside town on the English North Sea coast of Lincolnshire, with a population of less than 20,000. When scooters descend on Skegness, well before the summer season in England, two-wheelers and their riders stand out.

A wide variety of scooters showed up at Skegness. Some were fairly new models with little to no visible modifications.

Some people adorn their scooters with mirrors and lights. Putting extra lights on your ride can certainly help oncoming traffic see the relatively small scooters, but extra mirrors are a unique adornment without any apparent practical benefit.

While still others convert their little rides into chopper.

Camping is a big part of scooter rallies in the UK. From photos of the event, it appears motorhomes and vans line up around the perimeter of the campsite while the majority of attendees stay in tents. At least one rider has prioritized their bike for tent space, clearly demonstrating their priorities.

If you missed Skegness, it’s not too late for more scooter rally fun in 2017. The same group that runs the Skegness Scooter Rally is running the Boston “Run to the Stump” rally August 4-5, 2017 However, this is Boston. , Lincolnshire in the UK, not Massachusetts. Details will be available on the Skegness scooter rally Facebook page.

The biggest American scooter event this year will be AmeriVespa, held in Seattle, Washington from July 5-9, sponsored by the Vespa Club of America. You do not need to drive a Vespa to participate in AmeriVespa, all scooter owners are welcome. And if you want to witness all the noise, you don’t even have to own a scooter – you can rent one at In regards to in Seattle.

Scooter’s Bike Shop in Souderton Moves into Fifth Decade of Business | New

SOUDERTON >> Scott Landes can easily list a lot of good things about bikes.

“They are relatively inexpensive.

“They are in good health.”

“They are green. They don’t harm the planet.

“It’s a low impact aerobic activity. “

Plus, “They’re fun” and “They’re cool”.

At the Souderton Borough Council meeting on April 3 where Landes’s Scooter’s Bike Shop was the focal point of business, some council members recalled their own wheelie days.

Landes, who remembers crossing the nearby park to attend classes at Summit Street Elementary School before the school closed and the building was transformed into Souderton Town Hall, hadn’t always planned on owning a bicycle shop. .

After seeing that the Landes often went to slow-speed softball games, Joe Marlin, another of the softball players, suggested that the two take a cross-country bike trip after graduating from college. Landes in 1975, said Landes.

“I thought about it for about five seconds and said, ‘Yeah, that sounds good,’” Landes said.

Departing from the Pacific Ocean, the two covered 900 miles in 12 days and had just crossed from Arizona to New Mexico when Marlin had to leave for health reasons, but Landes, who sent weekly reports to the Souderton Independent , continued.

“It was a real adventure because you really didn’t know where you were going to sleep that night. It was very exciting that way. I loved this aspect, ”said Landes.

Often times, bike shop owners would give him a meal or a place to spend the night, he said.

“They would walk maybe five or 10 miles with me in the morning, to get me on track and go back to open their stores,” Landes said.

Souderton already had a long-standing bicycle shop owned by H. Lloyd Mininger, Landes said, but soon after returning home he opened his own bicycle shop and there were two in the borough of 1975 to 1982.

Landes said he rented a store on West Broad Street on the Strip, including the Broad Theater, “bought about 30 or 40 bikes,” continued to work in his previous job building houses on Mondays, Tuesdays and Wednesdays and had opened the store on Thursdays, Fridays and Saturdays. .

After a year, he left the other job and joined the company full time.

In 1978, he bought the old Mitzi’s Dress Shop on Main Street and moved the bicycle shop there.

In 1989 he moved again, this time to the current location at 130 N. Main St., right next to his old store.

With the move to the larger store next door, including a spacious basement, he no longer had to store bikes at home in his garage, Landes said.

The current store is the former home of the Frederick shoe store, which has been there for 79 of the 150 years in business, Landes said. Jake Frederick was 93 when he took “early retirement” in 1989, Landes said.

New bicycle sales account for around 65% of its business, with bicycle service accounting for around 35%, Landes said. The store carries the Cannondale and Specialized brands. It is open from 10 a.m. to 6 p.m. Monday to Friday and from 10 a.m. to 4.30 p.m. on Saturday. The site is at

Landes, who calls himself “a boy from Souderton through and through,” said he never even thought of opening his business in another town.

With many people now shopping for items online, it has become more difficult for brick and mortar stores, but the relationships developed over the years with customers are helping, he said.

The number of independent bicycle dealers in the country continues to decline, as has happened the entire time he’s been in business, he said. When he started there were around 10,000, he said, but now there are less than 3,500.

When he was growing up, learning to ride a bike was a rite of passage, Landes said.

“It was our ticket to mobility,” he said.

“It’s not cool for a lot of kids to ride a bike anymore,” Landes said.

“They need an electronic device to play,” he said, “and they are not allowed to go out on their own.”

People have to be careful where and when they ride, but there are a lot of areas that are good for biking, he said.

One of the bikes presented at the borough council meeting was an electric bike.

It’s an example of how bikes have gotten more complicated, said Rich D’Amico, owner of Consign for Design, which features commercial spotlights.

“The technology is just amazing with bikes,” D’Amico said.

He encouraged those who shop online or at chain stores to try local retailers as well.

“You’re going to get service,” D’Amico said.

Title Loans vs Payday Loans: What’s the Difference?

Title Loans vs. Payday Loans: An Overview

Asking whether title loans or payday loans are better is like asking which disease is better to get in the winter. Both loan products feature usurious interest rates, unfavorable terms and potentially aggressive collection tactics. A significant difference between a title loan and a payday loan is how you can borrow and the interest rates on each loan.

Title loans generally offer lower interest rates – for example, an annual percentage rate (APR) of 300% versus 400% for payday loans, if you call it a deal – but also impose higher penalties. heavy in the event of non-payment, because the lender can take possession of your vehicle.

Title lenders typically allow you to borrow up to 50% of the car’s value, and often up to $5,500, but some lenders will go higher depending on the vehicle and allow borrowers to take out a loan of $10,000 or more.Inasmuch asPayday lenders usually allow you to borrow a few hundred dollars.

Key points to remember

  • Payday loans and title loans are two high-risk loans with very little return other than quick access to cash.
  • Underpaid people often have to rely on payday loans to pay for necessities between paychecks.
  • Title loans are risky because you can lose your vehicle, which serves as collateral for the loan.
  • Because of the collateral, title loans allow you to borrow a lot more money than a payday loan.
  • Both loans should be used as a last resort, and even then, with caution due to their high fees and exorbitant interest rates.

payday loan

Payday lenders offer short-term cash loans in exchange for a post-dated check, usually dated your next payday. The amount of the check includes the total of the loan and finance charges. For example, you write a check for $115 to receive a loan of $100. Given a loan term of two weeks, which is relatively standard, the $15 finance charge equates to an APR of nearly 400%, and that’s assuming you repay the loan on time.Inasmuch asInasmuch as

If your post-dated check fails to clear the bank and you don’t make other arrangements to pay by the due date, the lender defers your loan to a later two-week period.Inasmuch asThe lender will also add another finance charge and usually assess an additional late fee or penalty. Before long, you could end up paying several multiples of your original loan amount.

Many payday lenders prey on low-income people and those in desperate need of money, and often their businesses are located in undesirable locations, but not always. You can circumvent the need to go there by searching for a lender online, but that exposes you to another set of risks. Some payday lender websites are nothing more than scams to extract sensitive personal information.

In some states, laws have been enacted to require payday lenders to offer extended repayment plans to those who experience financial hardship and cannot repay their loans.Inasmuch asThese state-sanctioned extended repayment plans mean you only have to pay what you owe and don’t have to borrow again, keeping the cycle of debt and fees in check. Classes.Inasmuch asInasmuch as

The only silver lining of a payday loan is that it is unsecured debt, which means the lender has no collateral to seize if you are unable to repay the loan.

Title loan

Title lenders offer short-term loans while holding the title to your vehicle as collateral. The lender assesses the value of the vehicle and offers to lend up to a certain percentage of that value, usually 25-50%. Title loan balances can be much larger than payday loan balances, in some cases as high as $10,000. The typical duration of a title loan is 30 days, with average interest charges of around 25%. This means that a standard title loan APR is 300%.Inasmuch asInasmuch as

Like payday lenders, title lenders impose the heaviest expense when you don’t repay the loan on time. If you’re lucky, the lender may offer to extend the loan for another 30 days, charging new finance charges and usually a penalty on top of that.Inasmuch asIf you’re not so lucky, the lender may repossess your car and sell it to pay off your loan.

Obtaining a title loan usually requires you to go in person since the lender must appraise your vehicle. Mobile title lenders exist but almost always charge extra to come to you.

Because a payday loan is unsecured, lenders have been known to use aggressive methods to collect late payments. These tactics include incessant phone calls, intimidating letters and threats of litigation.

Special Considerations

Ranking one or the other as “best” is fraught with pitfalls, as payday loans and title loans tend to make a precarious financial situation worse. Payday loans pose less risk of losing personal property, while title loans have slightly lower interest rates (although still very high) and allow for larger loan amounts.

If you face an unexpected expense and are low on funds, the best ways to raise money are to sell items you no longer need, ask your employer for an advance on your next paycheck, or, if possible, to use a credit card.

While credit cards are frowned upon for having high interest rates, their rates are only a tiny fraction of what you pay for a payday loan or title loan. Also, most credit cards don’t charge interest if you pay them off within 30 days.

8 cheaper ways to raise cash than car title loans

Some people in need of emergency cash may rush to the nearest car title lender for a quick loan, but that’s far from the best option. A car title loan, also known as a “pink slip loan,” is a short-term loan that requires borrowers to offer their vehicle as collateral for outstanding debt.

Interest rates on car title loans are notoriously high, among other drawbacks, so before you sign up, read and study these eight alternative fundraising strategies first.

Key points to remember

  • Car title loans are short-term, require borrowers to provide their vehicles as collateral, and charge significantly higher interest rates than traditional bank loans.
  • There are many different lending alternatives, including peer-to-peer loans, short-term bank loans, credit card cash advances, and even charitable donations.
  • Borrowers struggling with debt should consider talking to their lenders about lowering interest rates or creating more realistic repayment schedules.

How do car title loans work?

To qualify for a car title loan, a borrower must own their vehicle free and clear and present an unliend title to the lender. A valid ID, current vehicle registration, and proof of insurance, residency, and income are also required. Some lenders also require vehicle keys or insist on installing GPS tracking devices.

Although the amount of a car title loan depends on the value of the vehicle, it is generally capped at half the current value of the car. These loans are short-term – usually 15 or 30 days – and have a three-digit annual percentage rate (APR), which is a much higher interest rate than those associated with traditional bank loans.

Typically purchased by those with limited financing alternatives, car title loans are notoriously expensive. A $1,000 title loan with 25% monthly interest will cost the borrower $1,250 in 30 days, plus lender fees. Failure to repay the loan may result in the loss of the guaranteed vehicle.

Fortunately, there is no shortage of beneficial alternatives to car title loans. The following financing sources and debt reduction methods can help those who need money fast.

Car title loans are generally considered predatory loans.

1. Short-term bank loans

Before committing to car title loans with triple-digit interest rates, borrowers should first attempt to obtain a traditional loan from a local bank or credit union. Even the most expensive bank loans are cheaper than title loans. Additionally, some banks will provide secured loans to borrowers with less than stellar credit. As such, employed people who own cars can pledge their vehicles for bank-level interest rate loans.

If you have credit issues, finding the right loan can be especially stressful during a financial emergency when you need to borrow money quickly. Fortunately, you can still access a variety of emergency loan options even when your credit isn’t great.

2. Credit card cash advances

Although cash advances are notoriously expensive, they still carry interest rates well below triple digits. A borrower with a credit card, a line of credit (LOC) and the ability to repay the loan in several weeks will likely have access to these funds, at a much lower cost.

On the other hand, if the balance is not repaid in a timely manner, interest charges can quickly accumulate.

3. Peer-to-peer lending

Since peer-to-peer (P2P) loans are funded by investors rather than banks, approval rates in these situations are significantly higher than bank loan applications. During this time, interest rates are generally much lower.

Interestingly, the minimum loan amount can be higher than the minimum car title loan amount, so there is a risk of borrowing more than necessary. But prepayment is allowed without penalty.

4. Help from family or friends

Friends and family might be willing to offer or donate the money needed. In loan situations, the parties involved must cement agreed interest rates and repayment plans in written contracts. Although interest rates are expected to be significantly lower than traditional bank loans, a borrower can still offer their vehicle as collateral as a sign of goodwill to lenders.

5. Additional part-time work

If possible, borrowers can supplement their income with temporary employment. Many employers hire people on a case-by-case basis. For those who take the initiative to look, the jobs are there.

6. Social services or charities

State welfare offices, also known as general relief offices, provide emergency cash assistance to eligible individuals. Help may also be available in the form of food stamps, free or discounted child care, and internet services.

Churches and other religious institutions often provide people in need with food, shelter, and educational and career guidance. Individuals on parole or probation should contact their supervisory officers for a list of resources.

7. Negotiate with your creditors

Borrowers who are having difficulty repaying their loans should contact their creditors to discuss the possibility of creating alternative payment terms, lowering interest rates, negotiating discounts, waiving late fees and other concessions.

8. Credit and Debt Counseling

This is an option for people who are chronically short of money or who ritually pay high prices for quick cash relief. They should seek advice from a Certified Consumer Debt Specialist (CCDS). These practitioners can help design a strategy to cut costs, reduce debt, and save for bad weather. Counselors can help borrowers understand the true cost of short-term loans while directing them to better options.

The essential

Car title loans are often considered predatory because they are extremely expensive and target low-income demographics. After all, those with the most limited financial resources are the least equipped to pay the high costs.

Title loans quickly trap borrowers in endless cycles of debt that frequently result in the loss of their vehicles. If you need emergency cash and find yourself short on cash, consider the alternatives instead. There is no one-size-fits-all solution when it comes to securing needed cash.

World’s oldest Vespa scooter could reach € 300,000 at auction

London: The world’s oldest Vespa, a handcrafted scooter that featured in Audrey Hepburn’s hit 1953 film Roman Holiday, is up for auction and is expected to fetch € 300,000. The scooter, with chassis number 1003, is the third Vespa ever made by Piaggio, the Italian manufacturer.

The scooter is part of Piaggio’s “0 series”, which included 60 prototypes. The first two prototypes no longer exist. “We hope this Vespa ends up in the hands of a collector or a museum who will protect this piece of Italian history for future generations,” said Davide Marelli, Vespa expert at Catawiki, an auction site in line.

The scooter was handcrafted in 1946 and is in working order. He should raise between 250,000 and 300,000 €.

The history of Vespa dates back to the end of World War II. Piaggio was originally a manufacturer of warplanes, but they were no longer allowed to continue production after the war due to Italy’s collaboration with the Germans.

As a result, Piaggio’s management team reoriented manufacturing efforts on the now famous scooters. From 1946 Piaggio became known for its Vespa scooters which quickly became popular in Italy.

In 1953, the release of Audrey Hepburn’s film Roman Holiday, a film that features the scooter in a leading role, set Vespa on the path to cult status today.

As is the case with some cars, Vespa scooters have become more and more valuable over time. “Thanks to a huge fan base, old Vespa scooters tend to retain their monetary value,” said Marelli. “A 1970s Vespa scooter, for example, may be worth five times its original retail price. The older the Vespa, the more valuable it is,” he said.

The auction is currently underway and will run until March 28.

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The oldest Vespa scooter is for sale and is worth a fortune

The Vespa scooter was designed as an affordable way to get Italians back on the road after WWII, but it doesn’t come cheap.

The oldest existing Vespa is auctioned online at and at the time of this writing, it was closing at $ 175,000 with the auction scheduled to close on March 28.

The fully documented “Serie 0” was in fact the third Vespa built, the first two having been lost in history. It has been fully restored, with paint carefully stripped to highlight its early construction methods, which include a hand-welded and hammered steel monocoque. About 60 of these pre-production models were made before a formal assembly line was established.

The single-seater’s 98cc engine is still running and its three-speed transmission works great. If it wasn’t worth that much, you could take it home. It even has the original license plate preserved in clear varnish.


The auction house estimates that the auction could reach nearly $ 350,000 by the end of the auction. That would drop the most expensive scooter sold to date in the UK: a replica of the Lambretta from the movie “Quadrophenia”, signed by Roger Daltry and Pete Townshend of The Who and auctioned for charity in 2013.

The scooter used during the shoot sold for around $ 58,000 in 2008 and has not been on sale since.


The oldest Vespa scooter currently offered for online auction

The oldest Vespa is a prototype of the iconic scooter built in 1946 | Catawiki photos

The world’s oldest Vespa scooter, the third prototype built by Piaggio in 1946, is currently up for auction on the online auction site Catawiki, with an expected result of $ 250,000 to $ 300,000.

That might sound like a lot for a simple Italian scooter, but consider this example a historical artefact of the effort to provide cheap and efficient transportation for a nation devastated by WWII. With several million produced, the Vespa scooter became emblematic of a young Neapolitan way of life and was very popular around the world.

The Vespa with its engine cover removed

The auctions have already exceeded $ 174,000 will be updated for chassis # 1003 – the first two prototypes no longer exist – with five days of auction. The auction is visible on Vespa auction.

The Vespa scooter, based on the original design concept of Corradino d’Ascanio, the engineering genius who also invented the helicopter, is considered an iconic example of industrial art and immediately recognizable everywhere. With its frameless monocoque design and single cylinder engine, gearbox and rear axle combined into one unit, Vespa defined the style of scooter design that continues today.

The oldest Vespa received a ‘tutorial restoration”And is in working order, according to the auction description. The paint has been removed from the body and finished in varnish to show its handcrafted construction.

“Over the years, Vespa has become the # 1 symbol representing Italy,” Davide Marelli, Vespa expert at Catawiki, said in a press release. “The brand is known around the world and many collectors acquire antique Vespas.

“We hope this Vespa ends up in the hands of a collector or in a museum that will protect this piece of Italian history for future generations.”

The oldest existing Vespa scooter goes up for auction

Sorry Ferrari and Fiat, but one of the most attractive and durable Italian modes of transport has to be the venerable Vespa scooter. Accessible and affordable, embodying fun and adventure, this iconic scooter (the name means Wasp in Italian) dates back to 1946 when warplane maker Piaggio was forced to enter a new manufacturing line at the end of the Second World War.

To quote the original patent application, a Vespa is classified as a ‘motorcycle with rationally placed parts and components with a combined frame with mudguards and an engine cover covering all working parts’, of which “The whole constitutes a rational and comfortable motorcycle offering protection from mud and dust without compromising the requirements of appearance and elegance.

Vespas became part of the cultural landscape with the release of the 1953 film ‘Roman Holidays’, in which Audrey Hepburn was famous on the handlebars with Gregory Peck piloting the streets of Rome in a 1951 Piaggio 125 model.

While this particular model resides in a small museum in Tolochenaz, Switzerland (the Swiss hamlet in which Hepburn resided until his death in 1993), the world’s oldest Vespa goes up for auction this month on the site online auction Catawiki. Carrying the chassis number 1003, it is the third of Piaggio’s “0 Series” of 60 prototype scooters, the first two no longer existing. Not only does the 1003 model still work, but it is expected to make the Ferrari money, which is between 250,000 and 300,000 euros ($ 270,000 – $ 324,420).

“Over the years, Vespa has become the # 1 symbol representing Italy,” says Davide Marelli, Vespa expert at Catawiki. “The brand is known around the world and many collectors acquire antique Vespas. We hope this Vespa ends up in the hands of a collector or museum who will protect this piece of Italian history for future generations. “

The first Vespas were also sold in North America under the Sears Allstate and Cushman brands (we had an older Allstate version with a small two-stroke engine in the late 1980s). Hollywood luminaries immediately turned to the accommodating two-wheeler, with even tough guys like John Wayne, Marlon Brando, Dean Martin and Charlton Heston being seen riding Vespas in their respective movie studios between takes. After withdrawing from the US market in 1981, Vespas returned in 2001 with a new line of premium touring scooters that retain elements of the brand’s iconic styling.

Older Vespas have gained in value in recent years and have become coveted collectibles in their own right. “Thanks to a huge fan base, old Vespa scooters tend to retain their monetary value,” says Marelli. “A Vespa scooter from the 1970s, for example, may be worth five times as much as its original retail price. The older the Vespa, the more valuable it is.”

The auction is currently underway here and will run until March 28.

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Gallery: 10 Future Classic Cars To Buy And Keep Now

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Hero Flash electric scooter prices, specifications, equipment | India coach

Posted on Feb 06, 2019 2017 10:35:00

The electric scooter has a range of 65 km with a single charge and a top speed of 25 km / h; does not require a riding license or registration.

Hero Electric today launched its latest model, the Flash electric scooter powered by a lead acid battery. The Flash electric scooter is equipped with a 250W motor, powered by a 48V, 20Ah VRLA battery, and can travel 65km on a single charge. It has a top speed of 25 km / h.

Available in a limited edition with only 2,000 units for sale, the Flash has an introductory price of Rs 19,990 (ex-showroom, Delhi). The price includes the government subsidy of Rs 14,000 for electric vehicles as it is a collaboration between the Department of Science, the Society of Electric Vehicle Manufacturers (SMEV) and Hero Electric.

The lightweight 87kg Flash electric scooter does not require a driver’s license or registration, a factor that should make it popular among young people. Some of its features include magnesium alloy wheels, telescopic suspension and a full guardrail. It is also equipped with short circuit protection and has storage under the seat. It will be offered in red-black and silver-black color combinations.

Sohinder Gill, CEO of Hero Electric, told our sister publication, Autocar Professional, on the sidelines of the launch that, based on consumer preferences, there were also plans to offer a lithium-ion battery-powered Flash electric scooter at the bottom of the the scale. end in a few months. The price difference between the two battery powered scooters is around 15,000 to 20,000 rupees.
The electric scooter targets young people, housewives, small traders and the elderly. Flash shipments will start from next week to dealers in Delhi and roll out across India within a month, covering all 350 Hero Electric outlets. The company plans to add 100 more dealers during 2017 to bring the figure to 450 by the end of the year.

Two new e-scooters in preparation

Hero Electric is preparing to launch two new products. The first model – a premium lithium-ion battery-powered smart scooter with high connectivity and a Bosch powertrain – will launch after Diwali this year. The second model – a high-end low-speed electric scooter with a lithium-ion battery – will launch before the end of March 2018. Both will have a range of around 60-70 km, although the smart scooter has a speed roof. of 55 km / h. The lithium-ion battery should come from Korea, China, or Taiwan.

Gill says that while the lithium-ion battery has a three-year lifespan, the lead-acid battery comes with a one-year warranty. To make lithium-ion batteries more profitable, SMEV is turning to local manufacture; He has 10 proposals in hand, two of which are due to be shortlisted in a month and will require some assistance from the electric vehicle maker.

Speaking about online reservations for electric scooters, Gill pointed out that in the past two months, when demonetization hit dealer sales, the company has sold a large volume of its Maxi, Wave and e-spring scooters through PayTM and started online reservations for Flash as well.
Reacting to the 2017-2018 Union budget, Gill appreciated the allocation of 175 crore rupees for the three months, up to early April, due to government subsidies for electric vehicles.

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Vintage Vespa Scooter Delivered to Dunfermline Museum and Art Gallery

FRIDAY the 13th may bring bad luck for some, but it was not for the Dunfermline Museum and Art Gallery which received a very special delivery.

After a public poll on what West Fifers wanted to see at the entrance to the new museum, a kind donation of a vintage Vespa scooter from 1958 was donated by a local.

In 2013, museum staff surveyed the public to see what items they would like to see in the entrance portal.

After a poll at Kingsgate, local elementary schools, Carnegie Leisure Center and Carnegie Hall, the scooter was at the top of the list for all age groups.

There were 60 objects to choose from related to the different themes of the new museum.

The scooter took the top spot as children enjoyed the cool design of the scooter while bringing back memories of older generations.

Douglas Groom kindly donated his 1958 Vespa, but it needed some restoration work after being in his garage for several years.

Local conservator Davie Hynd and his son Scott offered to undertake work for the display when the museum opens in May.

Lesley McNaughton, Research and Activities Assistant at the Fife Cultural Trust, said: “As always, we have been blown away by the generosity and goodwill of our DCLG volunteers!

“For Douglas, deciding to donate his Vespa to us was a very selfless and generous act and we cannot thank Davie and Scott enough for all the time, energy and skill they put into the restoration.

“It looks fantastic! One of the many strengths of the project!

Turn your car into cash with title loans – New Business Ethiopia

You no longer have savings funds? Are you having trouble paying your debts? Life is of course uncertain. You can face ups and downs there. You may need to make urgent payments such as medical bills, utility bills, legal fees, repairs, mortgage payments, etc. Trying to manage all those bills could be absolutely impossible.

You might need the money faster, but what if your credit score turns out to be low? You cannot access any lines of credit or the usual short-term loans. You don’t need to dread; a car title loan can be helpful in such panic situations.

It’s the easiest and fastest way to get your hands on cash. Glendale title loans can meet your financial needs and increase your cash flow.

What exactly is a car title loan?

You use the title of your car as collateral for obtaining a loan. All you need is a car and your credit score doesn’t matter here. After receiving a loan, in the meantime, you can even continue to drive your car. In case if you are unable to make the payments, late to repay the loan, or its interest rate, the lender has the right to repossess your car.

There are obvious reasons for the great popularity of title loans. They’re fast, convenient, and don’t require any credit checks. Your car could be on loan from an entirely different company. You can still access a car title loan, as long as the equity in your car is greater than the repayable loan. But holding other liens can affect your car’s warranty value.

Every borrower has unique situations and many loan companies easily understand them. If your car is on a different lien and you still need a title loan, you can discuss your needs with them. This will help them eventually find a loan option that meets your urgent financial needs.

Different lenders have different ROI

Car title loans are for a very short term. Their interest rate therefore varies according to the lenders. Generally due to their shorter period, the interest rate is quite high. The duration of their loan can vary from one month to almost a year, on average, they grant a duration of one month to repay the loan. Their interest rate for one year can reach 20% or more.

If you borrow a car title loan at 15% interest for one month, the interest will total 180% in one year. This may seem quite high, but considering the convenience and amount you get, this interest may be worth paying. You can even negotiate with your lenders, which could help you get a reasonable interest rate for your Glendale title loan.

Your car under warranty

Each car will have a different value depending on years of use, damage to the car, brand and manufacture, etc. The lender you choose will certainly take these factors into consideration when determining the value of your car. This value will in turn determine the amount of loan you are eligible to acquire. In other words, the value of your car will determine the amount of the loan.

Typically, title loans let you borrow about 50% of your car. This is because they need to recover in case you are unable to repay your loan. During such events, they only have to stop your car in order to assimilate the value of the loan.

Apply for a title loan now

You can contact lenders like Glendale Title Loan and indicate your interest in taking out a title loan on your car. Each lender will have their own terms and policies; based on these terms and policies, they do a review of your car or ask you to provide your own opinion from an authorized car dealership.

They will do an inspection of your car and offer you a loan based on it. Once you complete the inspection and agree to their terms and conditions, they will issue the money as hard cash, check, or credit the money to your savings account.

You may be asked to make a prepayment settlement, in case you repay your loan earlier than expected. Other than this, a car title loan is apt for you in an emergency. Be optimistic and do not hesitate to obtain a title loan if necessary. Cars can indeed earn you a few dollars!

Max Cash Title Loans is proud to announce its Car Photo Contest

PHOENIX, December 20, 2016 /PRNewswire/ — Max Cash Title Loans, the industry’s top-rated car title loan referral service, is thrilled to announce it will offer an opportunity to earn $500 by organizing a car photo contest on social networks. The money will be awarded based on a lottery so everyone has a chance to win.

the Max Cash Title Loans Car Photo Contestthe registration period of started on December 15and of 2016 and will continue until January 16and2017. All entries must be received by midnight on the 16thand qualify to win. The contest is easy to enter and no purchase is necessary to win. All you have to do is take an original photo of your vehicle, post it on the contest Facebook page, like the Facebook page and share the promotion page on your own Facebook wall. The winner of $500 will be informed directly after the registration deadline.

Max Cash Title Loans was recently named Top Consumer Reviews’ The best choice among all car title loan providers, with a five-star rating and best in class. Max Cash Title Loans‘ not only landed the top spot in consumer reviews, it also scored the highest score among title loan providers on Consumer Affairs, with a four and three-quarter star rating. Brian Dolezal of Top Consumer Reviews said, “Max Cash Title Loans makes getting needed cash fast very easy…[and] strives to use its loan volumes to achieve good interest rates and good service for its customers.”

Maximum cash securities lending distinguishes itself from all other title lending providers in its tireless pursuit of excellence, service, encouragement, strength, diversity, support and community. All of these things are encompassed in their mission statement to provide high quality lending services with integrity, professionalism and respect to their clients, their lenders and the community with which they share resources.

“For some time we’ve wanted to show our customers that we’re different from any other lending service,” says Fred Winchar, CEO and Founder of Max Cash Title Loans. “We thought, what better way to show we’re passionate about helping people in need than to give away free money!”

Max Cash Title Loans hopes many people will enter their photo contest; and they can’t wait to reward the lucky winner with $500 so they can start their new year with financial peace of mind.

On Maximum cash securities lending:

Max Cash Title Loans is a trademark of Tradition Media Group, LLC (TMG loan processing) which is the largest independent car title loan processor in the country and the highest ranked title loan processor according to the rating of Consumer Affairs. Max Cash Title Loans is an extensive title loan referral service that partners with title lenders nationwide. If you need financing fast, Max Cash Title Loans finds you a lender with competitive interest rates and low monthly payments. No matter where you live, from the West Coast to the East Coast, they can help you get a title loan.

Media Contact:

Fred Winchar
Phone: 480-498-3940
E-mail: [email protected]

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The iconic Vespa scooter goes electric

The Piaggio Group unveiled from the EICMA 2016 show in Italy, a new all-electric Electric Vespa scooter.

The iconic electric scooter will hit the market in the second half of 2017.

There are no specs, details or pricing, but the all-electric scooter is expected to offer similar performance to conventional models, but at a slightly higher price point.

Electric Vespa

The Piaggio Group is investing in electric motors to redesign the mobility of the future.

Presentation of the Vespa Elettrica project, the new mobility solution according to the most elegant and popular two-wheeler brand in the world, which takes a step towards the future in total coherence with the values ​​that have accompanied its history.

Above all, the Vespa Elettrica will be a true Vespa, bringing the very latest in electrical technology to a vehicle that will retain all of the features that have been essential to its success. Style, agility, ease of use and driving pleasure will be the same as the Vespa we’ve always known, with the addition of technological and innovative connectivity solutions. A perfect blend of excitement, technology and respect for the environment that only Vespa can create. As it always has in its first seventy years of history.

source: Engadget

The 2017 Vespa scooter goes electric at EICMA with the RED version

The market for electric scooters continues to grow month by month, with more and more bicycle manufacturers offering their own models for most urban commuters. Now is the time for Vespa to get electrified and here is its prototype as it was presented recently at EICMA in Milan.
It was natural that such a great challenge should be taken up under the wing of the Vespa brand. However, the tradition of the Piaggio Group in electric motors dates back to the mid-1970s. It was the first to launch a hybrid scooter, and it was only a matter of time until the birth of the Vespa Elettrica project.

There are no technical details on the next electric scooter, but the manufacturer says that “The Vespa Elettrica will first and foremost be a true Vespa, bringing the very latest electrical technology to a vehicle that will retain all of the features essential to its success. Style, agility, ease of use and driving pleasure will be the same as the Vespa we have always known, plus technological and innovative connectivity solutions. “

The production Vespa Elettrica scooter is expected to arrive at dealerships in the second half of 2017. The Piaggio Group is currently evaluating the most advanced players in the sector globally to jointly develop innovative electric motor technological solutions, which is why the project is not ready.

Don’t worry, the company will continue to manufacture gasoline versions as well. The whole range has been updated for 2017, with new colors and fitted with engines readjusted to meet Euro 4 standards.

An interesting new model in the range is the Vespa 946 (RED), which, as the name suggests, is an all-red version of the classic scooter. The new model has been designed with elegance and style to raise awareness of this serious problem. It offers the opportunity to join the battle against some of the most difficult diseases facing humanity.

The revenues generated by the RED scooter will go to initiatives to fight AIDS, tuberculosis and malaria.

Vespa scooter – plan for the classic moped

Find out why the Vespa scooter is a design classic.

The world’s most recognizable scooter, the Vespa, was born out of the ashes of WWII in Italy. With the country’s aircraft building facilities in ruins after being bombed by the Allies, manufacturers were looking for new markets. Postwar Italy was a mess, with its road infrastructure in tatters and a barely functioning economy. Industrialist Enrico Piaggio, son of the owner of the aeronautical engineering company of the same name, decided it was time to create an affordable two-wheeled mode of transport to get his compatriots back to work.

Piaggio called on the talents of engineers Renzo Spolti and Vittorio Casini, but quickly realized that their efforts were not producing the goods, with their first model called the MP5 (a direct ancestor of the Vespa) not responding to the notebook. charges. This led Piaggio to hire Corradino D’Ascanio who, despite being an aircraft designer and having a strong aversion to motorcycles, was seen as the man for the job. D’Ascanio’s prototype – the MP6 – defined the design principles of the Vespa in that it was a true “scooter”, which was later to be defined as a two-wheeled motorized bicycle with a “step by step” frame, floors and a closed motor at the back. When Piaggio first saw the MP6, he would have exclaimed “sembra una vespa” (“it looks like a wasp”).

In the spring of 1946, patents were filed for a “model of a practical nature” constituting “a rational and comfortable motorcycle”. The essence of the design was that it would be easy to manufacture and its frame would allow new models to be brought into production quickly. It would also be affordable.

Yet the world’s favorite motor scooter got off to a rough start. The official press launch took place at the Rome Golf Club in front of a group of mystified journalists who were bowled over by the now-familiar aerodynamic fairing profiles that were so inspired by aircraft design. Early sales were desperately slow, and in 1947 Piaggio moved only 2,500 units.

Product placement in the movies is nothing new, and when Audrey Hepburn left unconvincingly on Gregory Peck’s Vespa in “Roman Holiday” the world went Vespa mad. Experts at believe that the fleeting glimpse of the young starlet on the scooter boosted sales by 100,000 and made the Vespa practically a must-have accessory in the film industry (the model she drove was the ‘one of the originals and not the phenomenally popular 125, as pictured here). says that in 1962 there were over 60 films featuring the Italian scooter. Even big-screen toughs Marlon Brando, Dean Martin, and Charlton Heston have been seen riding off-screen Vespas.

By 1970 Piaggio claimed the production and sale of over four million Vespas worldwide. The scooter had become more than an economical, functional and efficient means of transport; he had come to represent freedom and imagination. He was to experience another heyday as a cultural marker of the Mod movement.

While evolving into a series of ever popular models including the 125, 150GS and Primavera, the Vespa line has seen more than its fair share of ups and downs since its heyday in the 1960s. Changes in ownership , cheaper competition and changes in emissions laws have all negatively impacted the ability of the scooter to enter the market. Yet it has rebounded considerably in the 21st century, having been marketed as a premium product and, as a result, gaining popularity in the celebrity world.

Vespa scooter

Facts and figures

Date: 1946

Designer: Corradino D’Ascanio

Unit cost: 1950s models today sell for up to £ 10,000

‘Vespa’ is Italian for wasp

Designer Corradino D’Ascanio didn’t like motorcycles

18 million units have been sold since 1946

245-mile range on a single tank of fuel

Strongly featured in the Who’s rock opera ‘Quadrophenia’

There have been 34 different versions of the Vespa to date

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TitleMax appeals judge’s decision to cancel and repay title loans

TitleMax has appealed a judge’s decision to cancel and repay approximately 6,140 title loans to Nevada customers.

Thursday’s filing includes no new information, only a motion for judicial review in court for the 8th District. State law requires TitleMax to file a more detailed document within 40 days of written notice.

From the time state examiners from the Division of Financial Institutions visited 42 TitleMax locations statewide twice in 2014 and 2015, the agency ordered TitleMax to stop offering a deferral amendment. grace period payment scheme which, by extending the number of payments from seven to 14, would charge customers more interest.

TitleMax stopped offering the “good faith” product last December. However, Judge Denise McKay ordered the cancellation of the title loan agreements that the clients had entered into with the extension of the grace period after December 18, 2014, and the affected clients were to receive a full refund. Additionally, the fine was set at $307,000, but most of the amount was suspended so TitleMax is only required to pay $50,000.

Although the administrative law judge’s decision was made in an administrative proceeding, TitleMax has the right to appeal to the district court in accordance with state law.

TitleMax and FID declined to comment. However, local TitleMax employees had told customers they would receive reimbursement within 120 days from the company‘s legal department provided the loan was repaid.

Las Vegas’ Alan Clark thinks his title loan is one that needs to be called off. He took out $5,000 on a 2004 Subaru Impreza last December, mostly to catch up on mortgage payments. The first seven payments were interest on principal, about $551 per month, which equaled $3,857. The other seven payments totaled $5,000.

“The interest is ridiculous,” said Clark, who over the past month has traded in the car and paid off the rest of the loan. He said the service can be helpful, but “I think title lending is horrible and I’ll never do it again.”

TitleMax appeals ruling in favor of Nevada state agency by Las Vegas Review-Journal on Scribd

Contact Adelaide Chen, Review-Journal’s Data Editor, at [email protected] Find on Twitter: @adelaide_chen

Aprilia SR 150 scooter price will increase after Diwali


The Piaggio group launched the Aprilia SR 150 scooter on Monday, the Italian manufacturer’s first locally produced product in India. The sports scooter was offered at a very competitive price at Rs 65,000, ex-showroom. However, the introductory price won’t last long and the company plans to raise prices after Diwali.

Stefano Pelle, MD, Piaggio India told BikeWale that the company is making it clear that this is only an introductory price and will remain the same until Diwali. The vehicle received a positive response from the market according to Pelle. He mentioned that the reservation numbers are in the thousands.

Aprilia SR 150 is manufactured in the Piaggio Indian factory in Baramati, Maharashtra. The heart of the air-cooled 154.4cc 3-valve SR150 single-cylinder engine that can produce 11.39hp of power and 11.5Nm of torque paired with a CVT unit. It also comes with a fuel tank with a capacity of 7 liters.

The SR 150 is a sportier avatar of a scooter with a beak-like front apron. The double headlight has been placed on the front apron, while the indicators are positioned at the level of the handlebars. It gets an aggressive side and rear profile with sharp body panels. The instrument cluster is simple in layout with a two-box analog unit for the speedometer, fuel gauge and odometer.

Reservations for the scooter are now accepted at Vespa as well as at Motoplex dealers in Pune, Chennai, Kochi and Hyderabad. The pre-booking option for Aprilia SR 150 is also available through The company started deliveries of the scooter from Monday.

Roxy Jacenko poses on a Vespa scooter in Sydney ahead of Pixie Curtis’ birthday party

Biker chick! Roxy Jacenko poses on a Vespa scooter in a chic all-black ensemble in Sydney before flying to Hong Kong for her daughter Pixie’s big 5th birthday celebrations

She is busy preparing for her daughter Pixie’s fifth birthday.

But Roxy Jacenko took advantage of her busy schedule to try out a new Vespa scooter at Double Bay in Sydney this week.

The 36-year-old posed for a photo on Instagram Thursday afternoon as he sat on one of the Italian motorcycles.

Easy Rider! PR maven Roxy Jacenko posed for a photo on Instagram on Thursday as she sat on a Vespa scooter in Sydney’s Double Bay

‘Sorry not Sorry Mom !!’ she captioned the sun-drenched photo.

The PR maven held the victory sign in one hand, while the other held the handlebars firmly as she sat on the heels of the scooter.

Appearing to come out of the office, the blonde beauty wore black tailored pants with a black T-shirt and a blazer on top.

Roxy wore her locks long and in the center with the wind kicking up tendrils.

Birthday preparations: On Wednesday, Roxy posted a photo of herself carrying a giant bouquet of flowers as she rushed into town for last minute supplies for Pixie's party

Birthday preparations: On Wednesday, Roxy posted a photo of herself carrying a giant bunch of flowers as she rushed into town for last-minute Pixie party supplies

Back to the heart of the matter: The mother-of-two was back to her usual activities after going under the knife to remove a cancerous lump on her breast last week

Back to the heart of the matter: The mother-of-two was back to her usual activities after going under the knife to remove a cancerous lump on her breast last week

The mother-of-two looked radiant in the photo, while hiding her eyes behind her signature aviator sunglasses.

Just a day earlier, the busy businesswoman and single mom was rushing to prepare the first of many festivities for her daughter’s milestone birthday.

Before heading home to deliver Pixie her own MacBook laptop and a slew of other freebies along with a big cake, Roxy was seen picking up last-minute supplies.

Earlier today, she posted a photo of herself carrying a giant bouquet of flowers.

Birthday loot: Roxy ran home to deliver Pixie her own MacBook laptop along with a big Shopkins cake, ahead of her 5th birthday on August 16

Birthday loot: Roxy ran home to deliver Pixie her own MacBook laptop along with a big Shopkins cake, ahead of her 5th birthday on August 16

Early Treats: Pixie got plenty of goodies and balloons at the first celebrations

Early Treats: Pixie got plenty of goodies and balloons at the first celebrations

“Early mark for my little @pixiecurtis 5th anniversary celebration tonight via @silverservice_ #silverservicetaxis #sp,” she captioned the image.

She also shared a photo of herself drying her hair.

Roxy appears determined to keep life as normal after going under the knife last week to treat a cancerous lump on her breast.

Life as usual: Since being diagnosed with breast cancer and her husband's conviction for insider trading, Roxy has tried to keep life normal for her children Pixie and Hunter (center)

Life as usual: Since being diagnosed with breast cancer and her husband’s conviction for insider trading, Roxy has tried to keep life normal for her children Pixie and Hunter (center)

It will also be Pixie’s first birthday without her father, Oliver Curtis.

The investment banker celebrated his first birthday behind bars last Monday – a month after being jailed for conspiring to commit insider trading.

PR specialist plans big, long celebrations for her granddaughter’s milestone, taking the family to Hong Kong for a vacation

Big celebrations: PR expert plans big, long celebrations for her granddaughter's milestone, taking family to Hong Kong for vacation

Big celebrations: PR expert plans big, long celebrations for her baby girl’s milestone, taking family to Hong Kong for vacation

Aprilia SR 150 scooter price announced

The Piaggio group, parent company of the Italian brand Aprilia, has announced the price of its upcoming SR 150 scooter. The Aprilia SR 150 has been sold for Rs 65,000. The SR 150 is Aprilia’s first offering to be released. made in India and will be built at Piaggio’s Indian factory in Baramati, Maharashtra. The scooter was first presented to the Indian public at Auto Expo 2016 and the scooter will be officially presented in August 2016. Reservation of the scooter will begin soon, the company said. Read also: Aprilia SR 150 preview

Speaking of the scooter, Stefano Pelle, Managing Director and CEO of Piaggio Vehicles Private Limited (PVPL), said: “We have received a favorable response to all of our launches in the country and with the launch of the Aprilia SR 150 we are aiming to increase our footprint through geography. The design aesthetic of the SR 150 reflects the sporty character of the Aprilia brand with a lightweight engine that creates a new category in the scooter segment in India ”.

Aprilia SR150

Speaking of style, the Aprilia SR 150 has a European design language that is bold and contemporary. The sporty styling should make the SR 150 scooter a hit with young people. The sturdy telescopic forks and large 14-inch diameter wheels give the scooter an aggressive stance that should help it stand out from its rivals. The instrument console is a fairly straightforward affair with a dual-pod analog unit for the speedometer, fuel gauge, and odometer along with various indicator lights.

Aprilia SR 150 photo

The Aprilia SR 150 is expected to be powered by the same 154.4cc 3-valve air-cooled single-cylinder engine found in the Vespa 150 on sale in India. The mill is expected to generate 12 hp of power and 11 Nm of torque, and is mated to a CVT gearbox. The scooter uses telescopic front forks and a mono-shock unit at the rear to handle the suspension tasks. The scooter runs on 14 inch diameter wheels which are rolled up with 120/70 section tires on both wheels. The Aprilia SR 150 has a tank capacity of 7 liters and a seat height of 775 mm. Braking is provided by a 220mm disc brake at the front and a 140mm drum brake at the rear.

Honda Activa CNG scooter price, mileage, Lovato CNG kit for two-wheelers

One of the most affordable means of transportation today is the scooter. There are buyers who drive their scooters a lot and need a more affordable option. For them, there are CNG scooter kits for two-wheelers, more specifically scooters. We tested the Honda Activa CNG very recently. This came with a Lovato CNG scooter kit. This is not only limited to the Activa, but it is available for all types of scooters. The list of scooters is very long.

Lovato is not the only manufacturer to offer a CNG scooter and a few other players offer CNG scooter kits, and a lot of them. They are not available as a factory fitted option and are available as an aftermarket option. It is commercially available and the dealer will do the fitting for you on your Activa or any other scooter you own.

The Honda Activa CNG we drove was borrowed from Lovato. The company gave us one of its test scooters. We will try to review other CNG kits that are also available in the market. For this we will need a little more time.

Honda Activa GNC design

There is no change in the design of the scooter and it looks the same. As it was a scooter of the brand, they had stuck several brands of it. The green color you see in the pictures is of the scooter, but everything is sticker work by Lovato. For a regular buyer, this will not happen. The original color of your scooter will be kept. The Activa CNG will get at most one CNG badge, if you wish to add it. There will be no other difference in the Honda Activa CNG scooter.

The Honda Activa we drove was borrowed from Lovato. The scooter has everything intact in one place. The storage under the seat is now smaller because the meters of the CNG kit are placed under the seat. The CNG kits are placed under the handlebars. There are two small tanks installed there. Each contains 1 kilo of CNG. This makes a total of 2 kilograms of CNG. Each kilo will go up to 60 kilometers. This brings the total range to 120 kilometers.

Honda Activa CNG Video Review

We also shot a video of the Honda Activa CNG Review. If you want to see the video review, click on the video image to play it. Or you can even visit our for video if needed.

Honda Activa CNG scooter price in India

CNG kit for two-wheelers

Variant Price
MRP 15,000 INR

As CNG is more affordable, the cost of running the Activa GNC scooter will be lower. the GNC Activathe price of has not yet been disclosed. These will be made by an Iranian CNG kit manufacturer in Pune. This will be approved by ARAI. At the moment, it is a little too early to specify the exact price of the kit. In the next 15 days, we will share the Activa CNG Kit pricing. This kit is sold by Lovato and is priced at INR 15,000. Both brands sell their CNG scooter kits for around Rs 15,000.

CNG kits are government approved because they have been certified by the Automotive Reseach Authority of India (ARAI). The kit consists of two cylinders which can each contain 1 kg of CNG. The total autonomy of the CNG scooter kit for Activa is 120 kms.

The Honda Activa CNG is just like the regular Activa. The scooter shown in the pictures is green and white, but in reality there will be no difference in the design. The Activa 3G will be available in the same colors and design. The functionality will also remain the same. All you have to do is do an aftermarket assembly. The space for your knees decreases as the tanks are installed there.

Also read: Hero Maestro Edge live review

Honda Activa GNC Performance

There is a difference in performance. The CNG scooter is not as fast as the normal Activa so it is a bit difficult to overtake. You can sail comfortably, but to get past it requires planning. At the same time, the front of the scooter gets heavy, so turning at low speed and even handling is affected with the CNG kit. This makes the scooter a bit slower and also affects its handling. Making fast turns is difficult because the scooter is not fast and even if you pick up speed you will lose your balance because the front is heavy with the cylinders.

Mileage of the Honda Activa CNG scooter

Honda Activa CNG mileage

Motor Mileage
Activa GNC 80 km / kg

The Honda Activa 3G which runs on gasoline returns to around 50 km / l. The cost of running Activa gasoline is INR 1.3 per km in Delhi. While on Honda Activa CNG, it will be 61p. Domino’s staff got these scooters for their reviews and it’s free. The Activa will travel 120 km with the 1.2 kg tank. The cost of running the Activa CNG is much lower because the CNG is cheaper. There will be two cylinders on the scooter, each will have a capacity of 0.6 kilogram. It’s so cheap.

Honda Activa CNG Scooter

Is the Lovato CNG kit for scooters safe?

The tests went well. The ARAI has passed it and therefore enters the real world tests. All the kits that will be marketed must be approved by the ARAI itself. Honda Activa CNG is now on sale, not direct. The Honda Activa 3G can be purchased from a dealer and a CNG kit can be installed on it. The Honda Activa CNG will be an excellent value for money scooter. It’s pretty safe, there isn’t much of a problem with the scooter and it appears to be well insulated. So there is no major problem with that.

Other scooters with CNG:

Duo of heroes

Mahindra Gusto and Gusto 125

Hero Maestro Edge

Suzuki Let’s

Hero’s fun

Yamaha Ray

Honda Dio

Mahindra duro

Suzuki Access

Wego TVs

Suzuki swish

Jupiter TVs

TVS Scooty Zest

Vespa 125cc

Yamaha Alpha

Yamaha Fascino

Payday loans and auto title loans face tough new crackdown

Payday loans will be severely restricted under new rules proposed today by federal regulators.

Primarily, the rules will require lenders to ensure consumers can afford to repay loans and will require lenders to report loans to a credit bureau-like entity to track the number of outstanding loans and the amount owed. .

The rules proposed by the Consumer Financial Protection Bureau will not ban all payday loans, auto title loans or other high-cost loans. But they serve as the federal government’s first big shot at lenders who sometimes charge consumers nearly 400% interest and bury them in a bottomless pit of debt.

“The Office of Consumer Affairs offers strong protections aimed at ending payday debt traps,” CFPB Director Richard Cordray said in a written statement. “Too many borrowers looking for a short-term cash-flow solution are saddled with loans they can’t afford and go into long-term debt. It’s a bit like getting into a taxi just to cross town and get stuck on an extremely expensive cross-country trip..

“By putting in place common sense, common-sense lending standards, our proposal would prevent lenders from succeeding by making borrowers fail,” he said.

With payday loans, consumers can take out small, short-term loans (often 14 days) in exchange for high fees and interest rates. A loan could be $500. Then it is reimbursed with the person’s next paycheck. If the consumer cannot afford to pay it back because that paycheck is already incurred for other living expenses, the loan can be rolled over, with more fees and interest.

Payday loan industry supporters are expected to push back with strong commentary when details of the new rules become known later today. The Community Financial Services Association of America, which represents non-bank lenders, says “payday loans are an important source of credit for millions of Americans who live paycheck to paycheck.”

The industry association notes that traditional banks do not adequately serve 24 million American households that do not fit into the traditional, regulated banking system. More than 16 million households take out at least one personal loan each year. The CFSA also noted that a recent Federal Reserve report indicates that 47% of Americans cannot afford an unexpected $400 expense without selling something.

“The CFPB’s proposed rule is a terrible blow to consumers because it will cut off access to credit for millions of Americans who are using small loans to manage a budget shortfall or unexpected expense,” said Dennis Shaul, CEO of CFSA, in a writing. declaration. “It also sets a dangerous precedent for federal agencies developing regulations that impact consumers.”

The CFPB has developed many regulations that affect consumers. If so, he’s asking interested parties and the general public to submit written comments on the proposed rule by September 14. The final rules will be published at some point thereafter.

Federal restrictions on payday loans took more than four years to develop. “From the beginning, payday loans have been a significant priority for the Office of Consumer Affairs,” said Cordray, who was appointed to his position in early 2012.

CFPB research shows that more than four out of five payday loans are reborrowed within a month. One in five payday loans end up in default, and one in five one-time payment auto title loan borrowers end up having their car or truck seized by the lender for non-repayment.

In 2008, Ohioans thought they had won the consumer victory, and undoubtedly those voters spoke loud and clear. But data from the Center for Responsible Lending also speaks loud and clear — of the subversion of the statewide consensus that Ohioans reached in 2008, subversion unchecked by the legislature.

This will be Ohio’s second go-around with payday loan restrictions. Payday loans were legalized in Ohio in 1995, but complaints about fees, deceptive tactics, and interest rates as high as 391% led to a crusade against them. In 2008, about 64% of Ohio voters approved keeping a payday loan reform law that capped interest rates at 28%. But payday lenders have found loopholes so they can continue to charge triple-digit interest rates, not just 28%.

US Senator Sherrod Brown, D-Ohio, said in an interview that he was “confident” this reform will work where the last one failed. These rules will eliminate loopholes and fix two big problems: first, making sure payday loans are tracked in a database so consumers can’t have multiple payday loans at the same time. Second, prevent loans from being rolled over again and again. Consumers get in trouble, Brown said, when they take out loans they can’t repay in the short term and “the hole is too big to get out of.”

“My mission is not to put them (payday lenders) out of business,” Brown said. “My goal is for them to play by the rules.” He added that payday loans “fill a need” for some consumers.

Brown, the senior member of the U.S. Senate Banking, Housing, and Urban Affairs Committee, has called predatory payday lending and car title lending an “epidemic” that’s costing Ohios more than $500 million in fees every year. Last year, Brown led a Senate effort calling on the CFPB to pass tough rules. “I will fight attempts to weaken these sensible rules and ensure that there are no loopholes that allow lenders to continue to exploit struggling Ohios,” he said.

The CFPB will announce details of its proposed new rules later today. Here are some of the expected provisions:

  • Lenders will be required to determine whether the consumer can pay each payment when due while still being able to pay other financial commitments and basic living expenses. The test requires paying off everything owed, including fees, without borrowing more within the next 30 days.
  • The number of short-term loans that can be issued in quick succession would be capped.
  • Lenders would be prohibited from offering certain short-term loans to people who have short-term loans outstanding or who have been indebted on short-term loans for more than 90 days in the last 12 months.
  • Lenders could offer less restrictive loans if interest rates are capped at 28% and application fees do not exceed $20.
  • Lenders should notify consumers in writing before debiting a payment from their bank account. And if two payments fail, the lender can no longer debit the account without specific written authorization.

Are auto title loans predatory? A federal study raises concerns.

A report released Wednesday by the federal Consumer Financial Protection Bureau found high rates of vehicle repossession and long-lasting debt within the auto title lending industry.

Auto title loans are meant to provide borrowers with short-term access to cash when they need it most. But the CFPB found that for many consumers, loans quickly snowball into long-term debt. The report raises questions about the state of current lending practices and could spur additional federal regulation.

Title loans allow borrowers to use their vehicles as collateral to borrow what are usually small amounts of money – an average of $700. Lenders hold title to the borrower’s vehicle until the loan is paid off and charge a annual percentage rate of approximately 300 percent, according to the report. If a loan cannot be repaid in full, borrowers are forced to renew the loan and often pay associated fees.

Only 20 US states currently require auto title loans to be paid in full at the end of the initial term, while five others allow structured payment plans.

The bureau’s study of 3.5 million loans from 2010 to 2013 showed that one in five borrowers with a one-time payment car title loan ends up having their vehicle owned by lenders, and about half of these loans end up becoming long-term debt obligations with borrowers frequently. take out four or more loans to repay their original loans. Eighty percent of auto title loans are not repaid in full in one payment.

The CFPB also found that about two-thirds of the securities lending industry is backed by borrowers stuck in a debt cycle for seven months or more.

“Our study gives clear evidence of the dangers auto title lending poses to consumers,” CFPB Director Richard Cordray said in a statement. “Instead of repaying their loan in one installment when due, most borrowers find themselves in debt for most of the year.”

Mr Cordray added that borrowers may be more affected by repossession as it can block their access to work or other services.

Automatic title loans work the same way as short-term payday loans, which have also proven be problematic for borrowers; According to The Pew Charitable Trusts, online payday loans averaged an APR of 650% and led nine out of 10 borrowers to file complaints with the Better Business Bureau about their lenders. Last week, Google announced it would ban ads on its services for such loans.

The auto title lending industry rose to prominence after states began capping payday loan interest rate levels over the past decade. Lenders have continued this practice by moving their collateral from the money to the vehicles, and auto title lending currently attracts 2 million Americans in need of short-term loans each year. Pew also found that about 5 million Americans take out payday loans each year.

Associated Press material was used in this report.

One-time payment car title loans can cause long-term debt

Most borrowers who take out a one-time payment car title loan end up borrowing again because they can’t afford to make the payment when due, according to a new federal study.

That’s why a lot of auto title business comes from borrowers who end up taking out multiple loans in a row and staying in debt for months, according to the Consumer Financial Protection Bureau. found in a study released on Wednesday.

Car title loans are a type of short-term, high-interest loan used by consumers who lack money to pay bills or meet unexpected expenses. The title serves as collateral.

But what may be considered a short-term loan often turns into long-term debt as additional fees and interest are added to the original amount owed, according to the report. Most car title loans are due in 30 days, but in some states they can be due in as little as two weeks.

About one in five auto title borrowers have a car seized for non-payment from a lender, according to the report.

“Collateral damage can be especially severe for borrowers whose car or truck is seized, costing them easy access to their job or doctor’s office,” office manager Richard Cordray said during a briefing. call with reporters.

For its report, the bureau looked at about 3.5 million one-time payment loans issued by non-bank lenders from 2010 to 2013.

One-time payment car title loans, which are repaid with a lump sum payment, are available in 20 states; five other states only allow auto title loans that are repaid in installments, according to the report.

Car title loans are usually based on a percentage of the car’s value, as determined by the lender. The lender holds title to the borrower’s car, truck or motorcycle and returns it when the loan is repaid. The borrower retains use of the vehicle as long as the loan is outstanding, but the lender can repossess it if the borrower does not repay.

The typical car title loan is $700 and the effective annual rate is around 300%, according to the report.

The report found that only 12% of borrowers managed to be “one and done”, meaning they repaid their loans with fees and interest in one payment within 30 days.

Car title loans are similar to payday loans, although they are often for larger sums. They will likely be covered by new payday loan regulations the bureau is expected to come up with in the coming weeks.

A last year’s report from the Pew Charitable Trusts urged policymakers to enact reforms to make auto title loans less risky, such as adding a requirement that lenders assess a borrower’s ability to repay the loan, based on income and expenses .

The Pew Report found that more than two million people, or about 1% of American adults, use high-interest auto title loans each year.

Borrowers spend about $3 billion a year, or $1,200 each, in fees for loans that average $1,000, Pew found.

Here are some questions and answers about car title loans:

Are car title loans used primarily for emergencies?

According to Pew research, only a quarter of borrowers use title loans for unexpected expenses, while half say they use them to pay regular bills.

What alternatives are available to borrowers?

Delvin Davis, senior research analyst at the Center for Responsible Lending, said even a high-interest credit card might be a better option than a car title loan. “I would avoid them at all costs,” he said. “Once you’re in, it’s hard to get out.”

the The Federal Trade Commission urges consumers to consider tapping into any savings accounts they might have, or even borrowing from family or friends.

Some credit unions offer “borrow and save” programs, which allow borrowers to take out small loans if they agree to set aside some money in a savings account, to help provide liquidity for future needs.

Where can I complain about a car title lender?

If you have a complaint, you can contact your state attorney general’s office. You can also file a complaint with the Consumer Financial Protection Bureau.

Here’s the real reason why payday loans are such a huge problem

A new study from the Consumer Financial Protection Bureau shows how easy it is for cash-strapped borrowers to get drawn into a vehicle title loan debt trap.

Auto title loans share many of the same nefarious qualities that have made their cousin, the payday loan, such a hot target for regulators. Both products are powered by three-digit interest rates (except in states where they are prohibited or have specific interest rate caps) and are issued without regard to the borrower’s ability to repay the ready. While payday lenders use a borrower’s proof of income (like a pay stub) to secure their loan, auto title lenders use a borrower’s car as collateral.

Since the value of the title loan is based on the value of the car, title loans also tend to be much larger than the typical payday loan – $959 vs. $392. On average, a title loan consumes half the average borrower’s salary, according to previous research from Pew Charitable Trusts. If the loan is not repaid, the lender has the right to become the owner of the car.

Read more: This family proves how costly it is to be poor.

“The typical borrower cannot afford [to pay back a loan that is] about 5% of their paycheck to make ends meet,” says Nick Bourke, Pew’s Small Dollar Loans Project Manager.

CFPB data shows that a third of title deed borrowers default on their original loan and one in five borrowers have had their car repossessed. Most title loans must be repaid within 30 days.

Some 80% of home loan borrowers take out another home loan once they have paid off their original balance. Thirty days later, almost 90% are borrowing these loans again. Overall, more than half of all securities loans tracked by the CFPB resulted in at least three additional loans and a third of all loans initiated resulted in seven or more loans.

So how do you solve a problem like securities lending? The CFPB’s response, so far, has been to propose new rules that would require these lenders to tighten their underwriting practices. The agency was supposed to publish these new rules in early 2016, but has yet to do so. Meanwhile, it also puts pressure on big banks and credit unions to help fill the void that will remain once payday lenders and title lenders are squeezed out of the market by tougher regulations. The idea is that traditional banks could offer small dollar loans at a relatively low interest rate to consumers in financial difficulty, giving them a much-needed alternative.

The real problem here is not that title loans and payday loans exist. It’s that the industry has yet to find a better alternative for consumers in financial difficulty.

There are reports that at least three major banks are testing a payday loan alternative, but for the most part banks are biding their time until new CFPB rules on small dollar loans are released. “If the CFPB sets standards, you’ll see a lot more banks come into this market and make loans that cost 6 times less than what payday loans and title loans cost,” Bourke said. “I don’t think you’re going to see banks offering auto title loans, but you might see banks giving small cash loans to existing checking account customers.”

Currently, only 1 in 7 federal credit unions offer an alternative payday loan, according to the Pew Charitable Trusts. Their business is a drop in the ocean – 170,000 such loans have been issued by credit unions in 2014, compared to more than 100 million total payday loans.

Plus, banks already have their own version of a small dollar loan – the overdraft fee, which happens to be a multi-billion dollar revenue stream. They don’t look or sound like a payday loan, but they have a similar effect. The majority of the time, transactions that resulted in bank overdrafts are $24 or less and are refunded within 3 days, depending on past searches by the CFPB. But the average bank will still charge that customer an overdraft fee of $34. That’s effectively a 140% interest charge on a three day loan.

Most people who turn to payday loans or title loans are simply trying to make ends meet, looking to pay their bills or pay their rent on time, according to Pew research. In a call with reporters on Tuesday, the CFPB declined to offer advice on where customers can go for alternative sources of emergency loans. The problem is, There are not a lot.

With wages stagnating and fixed costs rising, American households feel pressured by day-to-day expenses, let alone able to cover unexpected expenses. Sixty-three percent of people said they wouldn’t have the money to cover a $500 car repair or a $1,000 medical bill, according to a recent Bankrate survey.

Making small-dollar loans safer — but not impossible — to obtain seems to be the answer here. This is a delicate balancing act for regulators. The rules for lenders must be strict enough that small lenders cannot take advantage of financially vulnerable people, but not so tight as to bankrupt the whole industry.

Woodruff Mandi is a reporter for Yahoo Finance and host of Brown Ambitiona weekly podcast about career, life and money.

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Auto Expo 2016: Honda launches NAVI scooter / bike crossover in India, prices start at Rs. 39,500


Updated: Friday February 5, 2016, 17:43 [IST]

Honda launched the new original Navi Crossover in India at Auto Expo 2016. Prices for the Navi Bike / Scooter crossover start at Rs. 39,500 ex-showroom (Delhi).

Engine and Gearbox Specifications

  • Engine Fuel Type – Gasoline

  • Engine capacity – 109.2 cc

  • Horsepower – 8hp @ 7,500RPM

  • Torque – 8.83 Nm at 5,500 rpm

The single cylinder engine is mated to an automatic gearbox.

Brakes And Suspension

Honda fitted its Combi brake system to stop the new Navi. To deal with the bumps in the road, Honda fitted the Navi with telescopic front forks and a monoshock at the rear.


The Honda Navi is inspired by the style of Honda’s off-road motorcycles, but everything has been miniaturized to give it a smaller profile. The rounded rectangular headlight without a fairing looks pretty cool, although the wheels look quite small. There is also a storage provided at the front of the NAVI.

Delhi Auto Show 2016 Trends: Photos, Videos & Interviews – Read Now!

Color options and variants

The NAVI is available in five colors: Patriot Red, Hopper Green, Shasta White, Sparky Orange and Black.

Honda showcased three variants of the NAVI at the Auto Expo – the NAVI Street, the NAVI Adventure, and the NAVI Off-Roader.

Prices, availability, reservations and competitors

Prices for the Honda NAVI start at Rs. 39,500 ex-showroom (Delhi) and future owners can book their own bikes on the Android app. Reservations begin today, February 3, 2016, and the first batch of NAVI will reach their owners in April 2016

Currently, the NAVi has no rival in the market and will instead compete with the rest of the scooters on sale in India.

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Article published on: Wednesday February 3rd, 2016, 11:10 AM [IST]

Two bad wheels? Genoa scooters fight ban in Vespa’s hometown | Italy

Scooter owners in Genoa, home of the Vespa, are celebrating a partial victory after the city’s mayor postponed a ban on models produced before 1999 intended to tackle pollution.

The hashtag #handsoffmyvespa has gone viral on social media, with furious bikers in the northwestern coastal city – which has more motorcycles per capita than anywhere else in Italy – repeating the slogan: “Born in Genoa, died in Genoa “.

In December, Mayor Marco Doria signed an anti-smog initiative due to go into effect in February, which is said to have blocked nearly 20,000 two-wheeler drivers.

But the measure banning their use in large areas of the city center between 7 a.m. and 7 p.m. sparked such a backlash that it was suspended until April to give people time to organize alternative transportation – and could still be. abandoned.

“This really shouldn’t be happening,” Vittorio Vernazzano of Vespa Club Genova told Corriere della Sera. “Especially not in 2016, the 70th anniversary of the birth of the Vespa, and in Genoa, where it was produced in 1946 by a Genoese entrepreneur, Enrico Piaggio.

The city has fewer cars than any other in Italy, with the exception of Venice, where the main mode of transportation is by boat or gondola, and pro-Vespa activists say Genoa’s public transport services are poor.

But Italo Porcile, an environmental expert, is determined not to give in to the pressure. “I love the Vespino, I had one myself,” he said. “But Euro 0 [a model produced before 1999] pollutes terribly and public health is more important.

Piaggio, which started producing locomotives and then fighter jets, invented the Vespa after WWII when the country’s roads, badly damaged by bombing, needed an alternative to cars for the masses.

With its distinctive stamped steel frame, the Vespa was made famous outside Italy by the 1953 film Roman Holiday, starring Audrey Hepburn and Gregory Peck.

Auto title loans offer quick cash for holidays, but critics warn of rising debt – Reuters

Scott Sweetalla, an auto loan customer, had his car repossessed by a lender due to high interest rates. “The money you would get from these people is not worth what happens later,” he said. (Photo by Erica Lang/Cronkite News)

Advertisements and online listings for auto title loans make them especially attractive during the holiday season when many families need extra money.

“I didn’t have a lot of money then, I wanted to buy Christmas presents, pay bills for my family,” said father-of-two Scott Sweetalla.

The Air Force veteran shopped around and thought he had a deal when he called Maximum Title Loans.

“And the gentleman who answered the phone asked me a few questions about my vehicle and then said ‘I can get you $2,000 for $150 a month’ and I thought, wow, that was awesome .”

But he also had to pay an extra $300 a month in interest. When Sweetalla fell behind, Maximum Title Loans called her referrals.

“In my case, they called them over and over and over again,” he said. “My sister doesn’t even want to talk to me anymore because of this.”

Maximum Title declined an interview request and would not comment on the terms of this or any other loan.

Seven months later, when Sweetalla could no longer make the payments, Maximum Title sent someone home.

“I woke up the next morning to go to work and my car was gone. My heart sank a little. I kind of imagined what it could have been,” he said.

As the number of auto title lending companies grows, so do the customers who don’t understand the risks.

“They keep going into debt because they believe it’s the only option they have,” said state Rep. Debbie McCune Davis, D-Phoenix. “I think we’re pushing these families into more debt and away from opportunities for themselves and their children.”

After the law allowing payday lenders to operate in Arizona expired in 2010, auto title loans filled a similar role.

“If you drive through certain neighborhoods, we know it’s like an economic red line. We know they’re looking for families with an annual income of $40,000 or less,” McCune said.

McCune said she was working with consumer groups to ask the legislature for tougher regulations to “tighten up some of this.”

“Anything that limits that availability will just force consumers to go to offshore lenders, tribal lenders, unlicensed lenders, maybe someone down an alley,” said Scott Allen, president of the Arizona Title Loan Association. “That is to say, it’s definitely not a benefit to consumers in any state, especially Arizona.”

Allen describes auto title loans as “fast, efficient and convenient.”

He said reviewers should talk to consumers who have had a successful experience with a lender and appreciate the service they provide. He made Michael Donahoe, a title loan client, available to talk about his loans.

“It’s always worked, I haven’t had any complaints about the fees,” Donahoe said.

Donahoe said he worked as a lawyer for 40 years, practicing administrative law for airlines and business aviation. Now retired, he says he does legal advice.

He said he had taken out eight title loans in the past 12 years and usually paid off the loans in 90 to 120 days.

“The best thing about Cash Time is that they’re really fast,” he said. “They make good profits on me. So we both win,” Donahoe said.

Federal regulators are working to make sure consumers understand the terms of their loans.

The Consumer Financial Protection Bureau, a federal agency created in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is considering a proposal to end “debt traps.” which would include advice to lenders on assessing whether or not a consumer has the ability to repay the loan.

“There are currently no federal rules that require lenders to determine whether or not the consumer has the ability to pay small loans like payday loans or car title loans.” said Christopher Peterson, special adviser to the director of the consumer office.

“We are very concerned about practices in the marketplace that appear to trap consumers in debt,” Peterson said.

The bureau plans to announce a notice of proposed rulemaking as early as 2016, followed by a 90-day public comment period. But there is no timetable for when or if a new regulation will come into effect.

In the meantime, the industry continues to grow. But it’s hard to know exactly how many auto title loan companies have replaced payday lenders in Arizona.

“Since the Sunset became active in July 2010, we’ve had an increase in sales financing licenses,” said Lauren Kingry, Superintendent of the Arizona Department of Financial Institutions. “However, it is difficult for us to determine if these are payday lenders or if these are companies interested in a simple sales financing license.

The department also receives consumer complaints.

“Many complaints are resolved by simply discussing what was signed and discussing the details of the transaction without further action being taken by the consumer,” Kingry said.

Sweetalla is still looking for her car.

“I see a similar vehicle every now and then on the street and I’m like no. This is not mine.”

He won’t be looking for another auto title loan.

“The money you would get from these people is not worth what happens later.”

Sky-high interest rates tied to online securities lending spark lawsuit from Oregon regulators

100 tickets.jpg

Online lenders have become a quick source of cash, but state regulators are struggling to enforce usury laws.

(Associated Press/File photo)

Jodi Arbak’s daughter needed a plane ticket to college and some extra cash to spend once she got there.

So Arbak searched online for a title loan. She filled out an application and sent photos of her 2012 Kia Soul.

Soon she had $1,500. And Auto Loans LLC had a lien on his $12,000 car.

Little did she know that Oregon regulators never cleared the lender or the triple-digit interest rates it charged. And yet, at least 250 other Oregonians have been caught in the same trap: pay exorbitant payments or risk losing their car. Even though they followed each month, many borrowers were beaten by a final lump sum payment that cost more than the original loan.

Arbak says she has never seen a contract setting out those terms.

Within months, his Kia was gone.

“It was awful,” Bend’s mother said. “These people, they don’t care.”

Now state officials are trying to force Auto Loans and its sister companies out of Oregon. But they face the same question that worries regulators and consumer advocates nationwide: How do you close the door on a lender whose primary address is the World Wide Web?

As they struggle to find the answer, Oregon residents continue to be crippled by the enormous financial strains often associated with online loans. The state has not authorized a single online securities lender, and only seven internet lenders in general. Many have no reason to apply because their annualized interest rates are well above Oregon’s 36% cap.

They’re just shelling out money to Oregonians anyway.

Complaints are pouring in – Oregon’s top banking regulator has filed more than 250 complaints against unlicensed consumer lenders since 2010. Auto Loans and its connections are frequent flyers, named in 16 complaints.

Washington issued a consumer advisory last year about a related company, and Pennsylvania ordered a halt and forbearance.

Oregon took action in August, when the Attorney General sued Auto Loans LLC and three subsidiaries. A Multnomah County judge then ordered the company to temporarily stop making or collecting loans in Oregon. The state argues that the unlicensed operation preyed on vulnerable people who may have never seen the contracts that bound them to onerous terms, including annualized interest rates of up to 334%.

Officials also told borrowers to stop repaying the loans, which they declared void under Oregon law.

What should you do?

Oregon officials say people who have taken out title loans from Auto Loans LLC or its affiliates should stop making payments immediately. For more information and assistance, borrowers can call state financial regulators at 866-814-9710 or email [email protected]

How do I find an approved online or short-term lender?

Oregonians can go to to find lenders who follow state laws. Currently, there are seven online businesses on the list.

However, court records show that none of the efforts stopped debt collectors from calling.

Many online lenders cite ties to tribes not bound by state rules; others are based overseas and ignore US regulations.

Oregon financial regulators insist that companies are still required to follow state laws when lending to residents. In June, state lawmakers passed a bill that voids loans of $50,000 or less made by unlicensed businesses.

“Internet lending is a huge problem for us,” said David Tatman, who oversees Oregon’s finance and securities division. The bureau has issued more than 20 enforcement orders against unlicensed consumer lenders since 2010.

Yet, when people need money now, the solution is just minutes online.

“We needed a good amount of money,” Arbak said, “not everything we had in savings.”


Arbak made its first loan repayment of $316 in December. Over the course of a year, those payments would have totaled almost $2,300 more than she borrowed in the first place – an interest rate north of 200%.

But Arbak said the next two payments went unpaid after he lost his job. “Next thing I know they’re taking it back,” Arbak said, recalling the day in February when a man from Eugene showed up for his Kia. She and other borrowers said the company tracks cars through GPS devices and hires local companies to repossess vehicles.

“I offered them money,” Arbak said. “They said, ‘No, no. It’s better if you cooperate. “”

At first, she couldn’t even figure out how. When she finally reached a manager, she said she was told she owed $1,600 at one time to get her car back – more money than she had originally borrowed. Instead of paying, she filed a lawsuit with the state Department of Justice.

“I couldn’t believe I let this happen,” she said. “These people are incredibly good at what they do: trick people and scam people.”

Other Oregonians have recounted similar experiences.

A Portland man told state officials he needed vacation money and landed on Title Loan America, a sister company of Auto Loans LLC. He said he read the original contract for his $1,500 loan, but not a second one he says he was asked to sign, supposedly because of a spelling mistake. He believes the later document included a much higher interest rate than he originally agreed to pay.

“I was desperate and needed the money so badly,” he wrote in his June 2014 complaint.

One of the problems regulators face is navigating the complex web of lender-linked businesses. Most of them operate under frustratingly generic names such as Liquidation LLC, Vehicle Liquidation LLC, and Car Loan LLC. Some are based in a post office box in the Cook Islands, a sparsely populated country south of Tahiti in the Pacific Ocean. A physical operating address is difficult to find.

For two years, the lenders operated under the umbrella of Sovereign Lending Solutions, a company owned by the Lac Vieux Desert Band of Lake Superior Chippewa Indians. But the Michigan tribe severed ties and disbanded Sovereign a year ago.

The operation sparked lawsuits across the country. Robert Salvin, a Pennsylvania consumer law attorney, has sued four times on behalf of borrowers shocked to learn of the sky-high interest rates.

“This particular company, and these individuals who are doing it, are the worst,” Salvin said.

Oregon lawyers not only want Auto Loans and its connections to stop lending to Oregonians, but also to repay some of the million dollars allegedly generated by the loans, which carried a average annualized interest rate of 243%.

Investigators searched Department of Motor Vehicle records and found the lender had registered 251 liens on Oregon vehicles, such as the one on Arbak’s Kia. That number doesn’t take into account the number of cars they’ve been able to repossess, said Dorothy Bean, financial enforcement officer at the office of finance and securities.

Tatman, who heads the division, said the large number of people affected and the severity of interest rates warrant the state’s lawsuit.

Filings show an Oregon borrower, identified only as KC, pledged his 2006 Jeep for a $3,500 loan. The client paid $532.55 a month, but couldn’t cover a “huge lump sum payment” to close the loan. The Jeep was taken over.

At some point, unbeknownst to KC, the lender put the Jeep under its own name in Indiana. State investigators later found he did the same to 61 other Oregon cars.

KC cobbled together $8,500 to get the Jeep back — $5,000 upfront, plus another $3,500 over seven months. But when KC completed those payments, the lender demanded another $5,058.

By then, KC had already paid $15,000 for the $3,500 loan.

Company executives have not responded to the state’s inquiry, nor have their attorneys weighed in on Oregon’s subsequent lawsuit filed Aug. 18.

Messages left by The Oregonian/OregonLive were also not returned.


Arbak, Bend’s client, didn’t stop until she got answers.

She discovered her car was in an auction lot in Portland, which agreed to keep her Kia until her consumer complaint was resolved. The process took months, hundreds of emails and the help of state attorneys. “Watching all these detective shows on TV gave me a bit of investigative strength, I guess, to keep going.”

Eventually it worked. She left with the Soul in June. The title returned to his name a week later.

“There are hundreds of people who have been defrauded by these people,” Arbak said.

His advice: “Keep fighting.

–Moly Young

[email protected]

Tom Hanks shows off his beard on a Vespa scooter in Los Angeles

Larry plays the clown! Tom Hanks shows off his white beard as he has a ball on a fashionable Vespa scooter around Los Angeles

He fell in love with the scooter on the set of box office bombshell Larry Crowne.

And it looks like old habits die hard for Tom Hanks after he was spotted taking a jaunt in his fashionable Vespa in Los Angeles on Saturday.

The 59-year-old looked like he was having fun as he rode his wicked machine through the upscale Pacific Palisades neighborhood.

Born to be wild: Tom Hanks was spotted cranking his engine on a scooter ride in Los Angeles on Saturday

The Bonfire Of The Vanities favorite took great pleasure in showing off his white beard, which he drew attention to by wearing a white open-faced hard hat.

He completed his tough biker look by wearing a trendy green hooded top, shorts, flip flops and chunky-rimmed tinted glasses.

Tom had a great time riding glamorous Julia Roberts in Larry Crowne, which he also directed, but admitted at the premiere that it almost proved their downfall.

The witty star said, “The only scene where I walk her home, I almost got into a car. She said, ‘You almost killed us both’ and I said:” Hush, hush, I don’t want the director to know that! “‘

How good: Hillary Clinton supporter wore flip flops for her outing in the sun

A little all white: the handsome actor has proven that he turns into a silver fox with his macho beard

A little all white: the handsome actor has proven that he turns into a silver fox with his macho beard

Riding his iron horse: The actor proved he enjoys the thrill of the freeway as he sped along in his Vespa

Riding his iron horse: The actor proved he enjoys the thrill of the freeway as he sped along in his Vespa

Tom is quite the master of transport when it comes to the big screen.

In addition to riding a 1981 Yamaha Riva in Crowne, he also rode a BMW sports motorcycle in the 1987 classic comedy, Dragnet.

He has also proven to be an adept of navigation, having played the role of a container ship commander in Captain Phillips in 2013, as he paddled the tropics in a dinghy on his popular tour. forcibly acting in 2000 Cast Away.

Indeed, he even managed to launch a slingshot around the moon in his critically acclaimed tower as astronaut Jim Lovell in the 1995 hit historical drama Apollo 13.

Fatal attraction: Tom confessed he almost killed his sweetheart Julia Roberts when they filmed Larry Crowne

Fatal attraction: Tom confessed he almost killed his sweetheart Julia Roberts when they filmed Larry Crowne

It's more like that: he put a female co-star on his helicopter when he filmed the 1987 comedy Dragnet

It’s more like that: he put a female co-star on his helicopter when he filmed the 1987 comedy Dragnet

Transport Master: He even proved adept at paddling an inflatable dinghy in Cast Away.

Transport Master: He even proved adept at paddling an inflatable dinghy in Cast Away.

Tom Hanks turns heads as he speeds up on a trendy Vespa scooter in Los Angeles

Catch Me If You Can! Tom Hanks turns heads as he speeds up on a trendy Vespa scooter in Los Angeles

On the big screen, he traveled all over America and drifted across the ocean on a makeshift raft.

But Tom Hanks was seen zooming in on a more trendy and reliable mode of transportation as he took a scooter ride in Los Angeles on Friday.

He seemed to be having a good time as he raced through the sunny streets of Santa Monica astride his Vespa.

Scroll down for video

The sweet: Tom Hanks looked like he was having fun riding his scooter in Los Angeles on Friday

The 59-year-old looked remarkably sharp for his age in a gray t-shirt, shorts and sandals combo.

Happy Days favorite Tom completed his look with a white hard hat and a pair of sunglasses.

In arguably his most iconic role in Forrest Gump, Tom has leaned on his swift feet to get around places ranging from Savannah, Georgia, to Vietnam.

Not bad for 59: actor looked good for his age as he sped through trendy Santa Monica

Not bad for 59: actor looked good for his age as he sped through trendy Santa Monica

Larry Crowne returns: but even his most loyal fans are unlikely to be excited about the prospect

Larry Crowne returns: but even his most loyal fans are unlikely to be excited about the prospect

Nice headpiece: The hip actor paired his protective headgear with a trendy pair of sunglasses

Nice headpiece: The hip actor paired his protective headgear with a trendy pair of sunglasses

But he managed to sate his love of horseback riding when he filmed the horrid romantic comedy Larry Crown in 2010.

The movie received horrendous reviews, but in despair, Tom tried to generate some interest by showing up to the premiere while riding a scooter.

His co-star Julia Roberts, who rode in the back of the bike with him during scenes in the film, was quick to point out that he was far from a fluent operator.

“He almost killed me,” she joked about filming with the veteran star. “He almost tore my leg off – The right leg!” “

It's all downhill from here: his Vespa's engine would benefit from the momentum as he descended the hill

It’s all downhill from here: his Vespa’s engine would benefit from the momentum as he descended the hill

Run Forest run: Its most iconic character relied on a more rudimentary means of transport

Run Forest run: Its most iconic character relied on a more rudimentary means of transport

Scooter riders warming up for next weekend’s Redcar Scooter rally

Redcar will resonate with the sound of two-stroke engines when it welcomes scooter enthusiasts from across the country next weekend.

The annual Redcar Scooter rally will be held again on June 5-6, having been resuscitated in 2014 after a hiatus of more than 20 years.

Scooter drivers gathered at the Stray Cafe in Redcar yesterday for a warm-up before the big event begins in earnest.

Damian Hunt, 45, who is hosting next weekend’s event alongside his friend Paul Power, said: “Last year has been brilliant. Over 1000 people came with their scooters and it was a great success.

“Obviously we want to get bigger and better every year, so we want more people to join us this year.

“I think it’s a good thing for Redcar. We have sold tickets to people all over England, I think the furthest away so far is Northampton.

“This means, hopefully, good business for businesses – pubs, cafes, bed and breakfasts – in Redcar.

“I remember the scooter rallies we had at Redcar in the 1980s. It got me into it when I was a kid. I liked the style, I liked the music and the lifestyle.

Dozens of scooter riders gathered for a preview of the rally yesterday, including 19-year-old Charlie Leech.

The Redcar teenager brought his Vespa scooter, which he spent £ 1,300 to modify.

He said: “I can’t wait to be at the rally. When I was in school, I got into music and then clothes and I said to myself: I need to get a scooter.

Music over the two-day festival, which will be held at the Redcar Rugby Club, will come from Clashed, The Extra Specials, Ordinary Affairs, Slow Moving Targets, The Revolve and Acoustic Weller.

Tickets are available for Friday and Saturday events, and for the whole weekend plus camping, on the website or Facebook at Redcar Scooter Rally 2015.

Auto title loans are riskier than payday loans, new report says

When you’re desperate for cash and run out of options, you might be willing to risk your car to save time.

This is what happens with an auto title loan. You keep your car, but assign title to the lender who uses the vehicle as collateral. If you don’t pay on time, the lender can repossess your wheels.

But the auto title loan market is “beset with problems,” including unaffordable payments and excessive pricing, according to a new report from the Pew Charitable Trusts.

“We found that auto title loans share the same detrimental characteristics as payday loans,” said Nick Bourke, director of Pew’s Small Amount Lending Project. “They demand lump sum payments that borrowers can’t afford and most customers end up having to re-borrow the loans repeatedly.”

Fewer people use title loans than take out payday loans, but they are usually for larger amounts. And they generally incur higher costs than payday loans, according to the Pew study. Plus, there’s the added risk of losing a major asset – your car – if the debt can’t be repaid.

One of the most important findings of this report: the average customer pays more in fees than the amount borrowed.

The average auto title loan is $1,000 and the monthly fee is $250 (equivalent to 300% APR). This $1,250 payment is usually due in 30 days and is more than most borrowers can handle. Pew estimates that this is about 50% of most borrowers’ monthly income, so they renew the loan – over and over again. Add up all these fees and the average customer pays $1,200 to borrow a thousand dollars.

Auto title loans are advertised as a way to handle a temporary cash flow problem or an emergency, but few people use them that way. Half of those surveyed by Pew researchers said they took out the loan to pay their regular bills.

Companies that offer title loans pride themselves on meeting a need for those not served by the banking system and other lending companies.

NBC News has repeatedly attempted to contact the American Association of Responsible Auto Lenders for comment, but has received no response. We were also unable to reach anyone at TMX Finance, one of the key players in this market, which operates more than 1,350 TitleMax stores in 17 states.

On its website, TitleMax says it was built on the idea “to provide an alternative to customers who, for whatever reason, couldn’t qualify for traditional loans or didn’t have time to wait weeks of deliberation from approval”. The company says its goal is to “give you as much money as possible while keeping your payments manageable.”

A business model based on risky loans

Auto title loans are currently legal in 25 states.* Pew estimates that more than two million Americans use them each year, generating about $3 billion in revenue.

The Pew study also found that 6-11% of people who take out an auto title loan have their vehicle repossessed each year.

“They’re lending to people who can’t repay,” said James Speer, executive director of the Virginia Poverty Law Center. “These loans are really, really bad.”

Speer told NBC News he saw the damage that could result. Several clients of the legal center found themselves on the street because they could not afford to pay their rent and their mortgage, so they paid off the car loan. Others lost their jobs because their vehicles were repossessed and they couldn’t get to work.

“It’s really not a loan. It’s loan sharking,” Speer said.

This is how William Sherod sees it. He borrowed $1,000 from an auto title lender in Falls Church, Va., last year. Everything was fine until $26 was missing on a month’s payment. The lender repossessed his car and wouldn’t return it until he paid off the loan in full, plus the repo fee. Sherod had to borrow the $833 from his family.

“They were really nice when I took the loan, but when I fell behind I was treated like crap,” he told NBC News. “They come after you because they know you are desperate. It was a terrible experience. I would never do something like that again.

Should something be done?

Pew wants state and federal regulators, especially the Consumer Financial Protection Bureaueither ban these high-interest, low-value loans, or develop regulations to “mitigate the harms” identified by this new research.

The report suggests a number of ways to make these loans more transparent, affordable and secure:

  • Ensure the borrower has the ability to repay the loan as structured
  • Set maximum allowed charges
  • Spread costs evenly over the life of the loan
  • Require concise information
  • Guarding Against Harmful Reimbursement and Collection Practices

*Alabama, Arizona, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Nevada, New Hampshire, New Mexico, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia and Wisconsin.

Herb Weisbaum is The ConsumerMan. Follow him on Facebook and Twitter or visit The consumer man website.

A New Way to Tackle the Poor: Car Title Loans

The rusty 1994 Oldsmobile that sat in an alley just outside of St. Louis was an unlikely ATM. That was until the owner of the car, a 30-year-old hospital lab technician, saw a TV commercial describing how to get money from such a car, in the form of a short-term loan.

Lab technician Caroline O’Connor, who needed about $1,000 to cover her rent and electricity bills, believed she had found a financial lifeline. “It was a relief,” she said. “I didn’t have to beg everyone for the money.”

His loan carried an annual interest rate of 171%. More than two years and $992.78 in debt later, his car has been repossessed.

“These companies put people in a hole they can’t get out of,” O’Connor said.

Autos are at the center of the biggest subprime lending boom since the mortgage crisis. The market for loans to buy used cars is growing rapidly. And in the same way that a booming mortgage market once prompted millions of borrowers to recklessly exploit their home equity, the new boom is also prompting people to take out risky lines of credit called title loans.

In these loans, which can last up to two years or as little as a month, borrowers surrender title to their cars in exchange for cash – usually a percentage of the cars’ estimated resale value.

“Turn your car title into holiday money,” TitleMax, a major title lender, said in a recent TV commercial, showing a Christmas stocking brimming with cash.

According to a survey by the Federal Deposit Insurance Corporation, more than 1.1 million households in the United States used auto title loans in 2013.

For many borrowers, title loans have dire financial consequences, causing owners to lose their vehicles and put them further in debt. A review by the New York Times over three dozen loan agreements revealed that after factoring in various fees, effective interest rates ranged from nearly 80% to over 500%. While some loans come with 30-day terms, many borrowers, unable to pay the full loan and interest, say they are forced to renew loans at the end of each month, incurring a new set of charges.

Many people find that they find it hard to follow almost as soon as they walk away with the money. As a result, about one in six title loan borrowers will have their car repossessed, according to an analysis of title loans by the Center for Responsible Lending, a nonprofit organization in Durham, North Carolina.

“It’s nothing but government-sanctioned loan sharking,” said Scott A. Surovell, a Virginia lawmaker who has proposed bills that would further restrict incumbent lenders.

The lenders say they provide a source of credit for people who cannot get cheaper loans from banks. High interest rates, say lenders, are necessary to offset the risk that borrowers will stop paying their bills.

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The title lending industry thrives because of the importance of the car.

While people seeking title loans are often the most desperate — facing job loss, divorce, or family illness — lenders are willing to give them loans because they know most borrowers will pay their bill to keep their car. Some lenders don’t even bother to assess a borrower’s credit history.

“The threat of repossession turns the borrower into an annuity for lenders,” said Diane Standaert, director of state policy at the Center for Responsible Lending.

Unable to raise the thousands of dollars he needed to repair his car, Ken Chicosky, a 39-year-old army veteran, felt hopeless. He received a $4,000 loan from Cash America, a lender with a storefront in his Austin, Texas neighborhood.

The loan, which carries an annual interest rate of 98%, helped him fix the 2008 Audi he was relying on for work, but it caused his credit rating to drop. Chicosky, who is also attending college, uses some of her financial aid to pay her title loan bill.

Chicosky said he knew the loan was a bad decision when he got the first bill. It detailed how he would have to pay a total of $9,346 – a sum made up of principal, interest and other fees. “When you’re in a situation like that, you don’t ask a lot of questions,” he said.

Title lenders benefit as state authorities restrict payday lending, effectively kicking payday lenders out of many states. Although title loans share many of the same characteristics — in some cases, they carry rates that dwarf those of payday loans — they have so far escaped a similar crackdown.

In 21 states, car title lending is expressly permitted, with title lenders charging interest of up to 300% per year. In most other states, lenders can provide loans with cars as collateral, but at lower interest rates.

Johanna Pimentel said she and her two brothers have taken out several title loans.

“They’re everywhere, like liquor stores,” she said.

Pimentel, 32, had moved his family from Ferguson, Missouri, to a more expensive suburb of St. Louis that promised better schools. But after a divorce, she struggled to pay her rent.

Pimentel took out a title loan of $3,461 using his 2002 Suburban as collateral. After running late, she woke up one morning last March to find the car had been repossessed. Without it, she would not be able to continue running her daycare business.

Detroit Free Press

Michigan pawnbrokers are unlikely allies with advocates for low-income families to block proposed legislation that would allow some high-cost car title loans in Michigan.

A Senate bill, sponsored by outgoing Senate Majority Leader Randy Richardville, R-Monroe, would allow consumers to borrow money against their car titles, while keeping the car, and see charging a fee of 20% per month – or effectively an annual percentage rate of over 200%.

Unsurprisingly, many consumer groups claim that car title loans are predatory and exploit people who are already struggling to pay their bills. Borrowers may have bad credit and find “no credit check” advertisements appealing.

“People are going to go to these (loans) because they’re not getting credit anywhere else,” said Ross Yednock, program director for the Michigan Economic Impact Coalition, which works with individuals and groups committed to improving the economy. access to free tax preparation assistance. .

Michigan pawnshops say they oppose the bill, which would change existing pawnshop law.

Mark Aubrey, owner of Motor City Pawn Brokers and president of the Michigan Pawnbrokers Association, said, “We are actively fighting this in Lansing right now.”

He pointed out that pawnshops can now charge up to 3% per month, plus $1 per month or part of a month for storage, and don’t want to get into lending car titles.

“We don’t want to be in the same category as the incumbent lenders,” Aubrey said. “They are trying to incorporate securities lending into the Pawnbrokers Act.”

Amber McCann, spokeswoman for Richardville, said the bill would allow individuals to decide whether they want to use their vehicle as an asset for a loan.

Consumers who own their car and have clean title could get a loan through a pawnbroker under the bill.

She said Richardville has spoken to a number of stakeholders, including financial institutions and auto industry players, and is unaware of the opposition to the bill.

But consumer groups are reaching out to the media to halt any potential action in Lansing.

In Michigan, a company can make loans by placing a lien on the title of the automobile, but it is not allowed to take the title in exchange for the loan, said Andrea Miller, public information officer for the Michigan Department of Insurance and Financial Services. .

Contact Susan Tompor: 313-222-8876 or [email protected]

TVS launches the new Wego scooter 2014, price INR 46,410 Ex-Delhi

TVS has launched its refreshed 2014 Wego scooter. The scooter market is becoming more and more competitive and TVS reacted earlier with the all new Jupiter, and now with the 2014 Wego. In its new 2014 avatar, the Wego is priced at Rs 48,857 ex-Mumbai for the variant. front drum brake. There is also a higher specification variant offering a 220mm front disc brake, priced at Rs 49,580. The price of Wego in New Delhi starts at Rs. 46,410 ex-showroom

New 2014 Wego TVs (1)

The new WEGO TV comes with new features and is also available in new solid and two-tone colors. In addition to changes related to functionality and cosmetics, TVS Motor Company has incorporated several improvements in the engine of the new TVS WEGO. The emphasis has been on refinement and smoothness, and TVS says the new Wego is now one of the best in its class. Wego now shares the 110cc engine with the Jupiter which benefits from a higher compression ratio and reconfigured ignition. Quick starts in cold weather, improved efficiency and smoothness are the advantages associated with the new engine. We will judge the new engine after we have done a test drive.

Click here to learn more about TVS products

Click here to read our TVS Jupiter review

In terms of technical specifications, the Wego is powered by a 110cc, single cylinder, 4 stroke engine developing 8 PS of power at 7,500 rpm and 8 Nm of torque at 5,500 rpm. Energy efficiency is rated at 62 kmpl by TVS
While many might not have noticed, the WEGO is the only all-metal body scooter in India.

WEGO 2014 features include

  • Fully digital instrument console
  • Tubeless tires
  • Parking brakes
  • New exhaust silencer (seems to have been taken from Jupiter)
  • Patented TVS econometer
  • New WEGO TV comes with new monotone graphics and new two-tone colors
  • The seat has been slightly worked
  • 12 inch alloy wheels
  • Telescopic front suspension
  • Gas rear shock absorbers
  • Multi-reflector halogen headlight
  • LED tail light with optical guides

The style of TVS WEGO has enabled it to become the recipient of the prestigious India Design Mark (I Mark) by the India Design Council. We have always maintained that the Wego is one of the best scooters on sale in India today, and with the Jupiter, it is mandatory for buyers in the segment to be tested before making a decision.

Sozzi: 5 Amazing Things You Didn’t Know About A Vespa Scooter

NEW YORK (TheStreet) – The financial community is obsessed with colorful graphics. If you create a historical chart on something and infuse it with bright colors, BOOM, go retweets and favorites that boost Klout on Twitter. The craze for Apple (AAPL) – Get the Apple Inc. (AAPL) report The iPad lifetime unit sales charts are intense, as are the total number of acquisitions made by Google (GOOG) – Get the Alphabet Inc. Class C report for a given year. Don’t make me go to the sexy graphics showing how many electric cars You’re here (TSLA) – Get the Tesla Inc report sold in a quarter compared to General Motors (DG) – Get the report from General Motors Company (GM) and Ford (F) – Get the report from Ford Motor Company. Actually, I guess social love makes the effort of compiling charts worth hours, right?

Unfortunately, graphics can’t necessarily be shared during a discussion on the Memorial Day weekend barbecue unless you want to be the person releasing the iPhone 5 (Note: you never want to be this anybody). Mom or Dad may not have a chart either. So I tend to focus on collecting stats and fun facts from the companies I speak with for clients and in interviews, filling my head with enough financial anecdotes that make my life a reality. any party.

LOOK: More videos on TheStreet TV | More videos of Brian Sozzi

The Vespa team were kind enough to share these five fun facts. Godetevi! (“To enjoy” in Italian)

    18 million Vespas have been sold on five continents since the brand’s launch in 1946.

    A full tank of gas on a Vespa = 245 miles.

    To ensure stiffness (which I felt during a test drive in Central Park in New York), the Vespas are made from pressed steel.

    Although there is much debate within the Vespa community, the most sought-after classic model is the 1958 G5. It represented the start of the Sport category for Vespa.

    Vespa fans are affectionately referred to as “Vespisti”.

    Yes, this is what the interior of a Vespa looks like …

    By Brian Sozzi CEO from Belus Capital Advisors, analyst at TheStreet. At the time of publication, the author does not hold any positions in the mentioned stocks.

    This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial team.

    Brian Sozzi is CEO and Chief Equity Strategist of

    Belus Capital Advisors

    . He is responsible for developing and managing a portfolio of mid and large cap stocks, in addition to leading the company’s digital content initiatives. He is also a personal finance columnist for

    Men’s health


    Suzuki Let’s Scooter Price and Detailed Specs – Pre-booking Open in India

    Suzuki Motorcycles India has now opened pre-booking for its latest scooter on the market called “Suzuki Let’s”. The scooter was unveiled worldwide at the Delhi Auto Expo 2014 alongside the Suzuki Gixxer bike in January. Although the company has not revealed an official release date, the Suzuki Let’s scooter has a price in India of Rs. 47,000 (ex-Mumbai showroom). Interested parties can pre-book the scooter with their nearest Suzuki dealer for Rs. 1,000. Ready to take on the new Yamaha Ray, TVS Jupiter, Honda Activa i and possibly the next TVS Scooty Zest two-wheeler, the scooter Suzuki Let’s deserve a good review of its specs and features from consumers looking to buy a new one for the family in 2014.

    Suzuki shared that they built the Let’s Scooter from the ground up and it’s brand new inside and out. Powered by a 112.8 cc engine that delivers a maximum power of 8.7 hp at 7,500 rpm and maximum torque of 9 Nm at 5,500 rpm, the Suzuki Let claims a fuel consumption of 63 kmpl (credit attributed to SEP or Suzuki Eco Performance technology). It should be noted here that – the Suzuki Let’s differ from the company‘s previous models such as Suzuki Access 125 and Swish 125 in terms of looks and the features it offers. The new two-wheeler wants to target young girls and college students.

    On the look side, the Let’s Suzuki scooter is doing well with its intermediate proportions and its deeply cut silhouettes on the front apron. As you can see from the images above, there is a clear lens and a halogen equipped headlight on the front. Placed centrally under the handle is a unique bag hook that gives the rider quick access for mounting luggage. Below the convenience area, we found that the storage under the seat is quite adequate. The front and rear suspensions are both coil spring and oil damped, while the front is telescopic, the rear is a swingarm type. The scooter is fitted with 90 / 90×10 tubeless tires.

    It is important to note here that the scooter weighs only 98 kg, but does not have a disc brake option. Other important features are electric start assist, digital speedometer, fuel gauge, low fuel indicator, side stand alarm and low beam. The company will launch the scooter in 5 color variants – Pearl Mira red, Pearl Mirage white, Sparkle black, Metallic Triton blue and Metallic Sonic silver.

    It’s all about the features and specifications of the all new Let’s Suzuki scooter. How would you like to ride it on Indian roads? Share with us in the comments below.

    Source: Zigger

    Wisconsin auto title loan paychecks are on the way, officials say

    By Gitte Laasby of the Sentinel Diary

    UPDATE: Checks have been issued as part of the Wisconsin Auto Title Loans Inc. settlement. If you were expecting payment but did not receive one, please see this story for a possible explanation and guidance on what to do. you have to do if you have any questions.

    Nearly six months after Wisconsin officials announced a $2.75 million settlement with Wisconsin Auto Title Loans Inc., checks are finally about to go out to about 23,000 aggrieved consumers. That will happen later this month, officials say.

    Wisconsin Auto Title Loans has been accused of tricking people into paying for membership in an insurance-like service on top of their loans.

    Over the past two months, several consumers have contacted the public investigator to request an update to the settlement because the phone number and website consumers were previously directed to for information no longer works.

    When I introduced myself to state officials, they told me that the phone number and website were only meant to be temporary. They also provided these answers to consumer FAQs:

    • When does my check arrive?
      The settlement administrator will begin issuing payments and releasing liens this month.
      “Checks are being prepared and should be mailed in late March,” Wisconsin Department of Justice spokeswoman Dana Brueck told me over email.
      (Officials previously said the payments would arrive in February.)
    • How much will my check be?
      The information we provided earlier still applies: payments will be close to 125% of the fees consumers paid to be members of the Continental Car Club, plus interest. Membership fees ranged from $30 to $150 depending on the loan amount taken out.
      Note: Interest rates charged by Wisconsin auto title loans were extremely high, but they were not the subject of this lawsuit.
      Consumers were eligible for reimbursement from Wisconsin Auto Title Loans if they took out a loan between January 1, 1999 and December 31, 2010 and repaid an amount equal to or greater than the money they received on the loan.
    • Why did it take so long?
      Officials had to wait for the appeal period in the case to expire. It also took the state and the Legal Aid Society of Milwaukee a long time to reach a settlement with the company.
    • Who can I contact if I have questions?
      At this point, consumers simply have to wait for their check. However, those who need more information can contact the attorney representing the plaintiffs with any questions. His name is Peter Koneazny and he works for the Legal Aid Society of Milwaukee. He can be reached at (414) 727-5333.

    There’s more information about the settlement in this story from the January Public Investigator. You can find more information about what Wisconsin Auto Title Loans did wrong and why it took so long to reach this settlement in this September story on the initial settlement.

    For more consumer stories, follow the Public Investigator on Twitter @GitteLaasbyMJS or like his facebook page.

    About Gitte Laasby

    Gitte Laasby is the public investigator for the Milwaukee Journal Sentinel. She investigates government issues and consumer affairs.

    TitleMax now offers motorcycle title loans

    Our goal is to help as many people as possible get the money they need.

    TitleMax, the nation’s largest and fastest growing car title lender, has expanded into Georgia, Alabama and Tennessee to offer motorcycle title loans and pawns. Similar to a car title loan, a motorcycle (or pawn) title loan requires a clear (or non-lien) motorcycle title and government-issued identification, such as a driver’s license. With these items, a person can be approved for up to $10,000 in Georgia and Alabama and up to $2,500 in Tennessee. The amount of the motorcycle title loan is determined by the value of the vehicle, the borrower’s need, and the borrower’s ability to repay the loan. People with good, bad, or no credit can be approved as long as they have both required items. Credit history is not considered at all in the approval process. People can bring their bikes anytime the stores are open to get a loan from TitleMax. Store hours are Monday through Friday 9:00 a.m. to 7:00 p.m. and Saturday 10:00 a.m. to 4:00 p.m. in Georgia and Alabama and Tennessee, Monday through Friday 9:00 a.m. to 6:00 p.m. and Saturday 10:00 a.m. to 4:00 p.m.

    “Our goal is to help as many people as possible get the cash they need,” said Otto Bielss, senior vice president of operations for TMX Finance. “We saw a demand for motorcycle title loans and responded quickly by being able to offer this service. This is one of the reasons TitleMax is a leader in the title loan industry.

    About Car and Motorcycle Title Loans

    Car and motorcycle title loans are a quick way for people in credit difficulty to get the short-term cash they need. To obtain a TitleMax car or motorcycle title loan in Georgia, Alabama, and Tennessee, a person must have a clear or unencumbered vehicle title and government-issued identification. With these articles, an individual can obtain a loan of up to $10,000 depending on the state in which he is, while retaining the use of his vehicle. No insurance is required, there is no credit check, and most loans can be completed in as little as 30 minutes.

    About TitleMax

    TitleMax, a subsidiary of TMX Finance, offers financial products to people without access to traditional credit alternatives. TitleMax has been a trusted consumer lender for over 15 years, helping hundreds of thousands of people get money when they need it. Since its inception in 1998, TitleMax has grown to over 1,300 stores, spanning 14 states, and provides car title loans to over 2,500 people every day.

    Please visit for more information on car and motorcycle title loans and how TitleMax can help.

    Share the article on social networks or by e-mail:

    Suzuki Motorcycle launches a new scooter, bicycle; deploy more

    Japanese two-wheeler maker Suzuki Motorcycle, which today unveiled two new products – a scooter and a motorcycle – announced it will launch two more products in the country this calendar year to increase its market share in the world’s second-largest market for two-wheelers. .

    The company currently commands 16% of the pie in the home scooter space, while it is only 1% in the motorcycle segment.

    The company also hired Bollywood actress Parineeti Chopra to endorse its new Let’S ‘scooter model, while superstar Salman Khan, who has endorsed the Japanese company’s bikes for the past two years, unveiled the new bike. Gixxer.

    “We are rolling out four new products this calendar year, including the two unveiled today. The new scooter model will launch next month and the bike will hit the road by July,” said Atul, executive vice president of Suzuki Motorcycle India (SMIL). Gupta said here.

    SMIL is the wholly owned subsidiary of Suzuki Motor Corporation of Japan.

    Gupta, however, did not disclose the pricing of the two new offers, adding, “The prices will be announced at the next Greater Noida Auto Show and they will be very, very competitive.”

    The 110 cc scooter belongs to the personal segment, while the 155 cc bike is a premium bike in the luxury segment, he said.

    Forecasting stable growth for the two-wheeler industry in the current fiscal year, Gupta said entry of new players intensifies competition, adding that scooter volumes are the only silver lining for the industry. .

    Stating that a good mix of product and distribution were the main challenges for SMIL, Gupta said that over the next 12-18 months, the company will focus on consolidating its presence by tackling these issues.

    “We have to go a long way before we get closer to the main players. We are still not present in the 75% of the market and our share only comes from the 25% of the market that we cover. So that way we are quite in those markets, ”Gupta said.

    “Also, we still don’t have a lot of products and their variations. So we try to get as many products and their variations to get closer to the competition,” he said.

    The company’s sales in India grew more than 10% month-on-month in 2013 thanks to improved production capacity and deeper market penetration.

    Gupta also said that to improve its reach in more markets, SMIL will increase the number of its dealers from 300 to 400 currently, in addition to increasing the number of touchpoints to 1,000 from 600 in this calendar year.

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    Wisconsin Auto Title Loans agrees to $2.75 million settlement

    By Gitte Laasby of Sentinel Diary

    UPDATE: Checks have been issued as part of the Wisconsin Auto Title Loans Inc. settlement. If you were expecting a payment but did not receive one, please see this story for a possible explanation and guidance on what to do. you have to do if you have any questions.

    After a 10-year battle, state officials and the Legal Aid Society of Milwaukee announced that they have reached a $2.75 million preliminary agreement with Wisconsin Auto Title Loans Inc.

    If approved by a judge later this year, the deal will secure nearly $2 million in compensation for tens of thousands of customers the company allegedly tricked or coerced into paying for car club memberships. type insurance, which was marketed as optional. This is on top of already high interest rate loans of over 300%.

    As part of the agreement, Wisconsin Auto Title Loans will extinguish all finance charges and fees accrued on its approximately 36,000 accounts, the Wisconsin attorney general’s office said in a news release Monday. State officials estimate this will amount to millions of dollars. Wisconsin Auto Title Loans will also release any existing liens on such borrowers’ vehicles.

    Wisconsin Auto Title Loans is based in Green Bay and operates 22 locations across Wisconsin. It provides short-term loans to vehicle owners by putting liens on their auto titles, usually for much less than the cars’ blue book values, from $300 to $10,000.

    Annual interest rates are up 300%. The loans were generally expected to be repaid within a month, but many borrowers were unable to repay the loans in full within a month, the complaint states. The loans are generally intended for people with very low incomes or poor credit history.

    In addition to loans, Wisconsin Auto Title Loans has also enrolled customers in an insurance “auto club” type service, which reimburses the member for a small portion of services in the event of an emergency, such as $15 in the event of a flat tire. , $50 for roadside assistance and $100 for legal fees in the event of an accident.

    In some cases, company employees claimed that optional membership was a one-time or mandatory fee to obtain a loan. Most consumers did not pay club fees up front, so the amount was added to their high-interest loan, officials said.

    In one case, a consumer took out a $700 loan and seven months of club membership for $105. The interest on the loan was 360%, so for the first month the client paid $31.07 in interest only, the complaint states.

    “Although the product is meant to be optional, consumers reported not knowing they purchased the product or being told the product was a required purchase with their title loan,” the attorney general’s office said. “In most cases, the additional cost was rolled into the total loan amount and became subject to the high interest rate attached to the loan.”

    State law requires that all finance charges be disclosed in advance. They weren’t, meaning the interest rates referenced to customers were inaccurate, the state said.

    “I am particularly pleased with the outcome of this case because people are often already suffering financial hardship, and it is disturbing to see these individuals being targeted by a deceptive scheme,” Attorney General JB Van Hollen said in a statement.

    According to the press release, customers who purchased Wisconsin Auto Title Loans’ Continental Car Club service membership between January 1, 1999 and December 31, 2010 will be eligible for a cash payment from a restitution fund if they paid as much, or more, than the money they received from the business when they took out the loan.

    Wisconsin Auto Title Loans customers who may be eligible for a refund will be notified by letter Sept. 27, the state said.

    Milwaukee County Circuit Judge Michael D. Goulee previously approved the settlement on Sept. 6.

    A judge has yet to make a final decision on whether to approve the settlement at a hearing scheduled for Dec. 10. Consumers who do not want to be part of the settlement can either opt out or object before it does.

    By September 27, state officials plan to create a website called which will detail the terms of the settlement. Beginning September 27, affected customers can also call (877) 435-4065 for more information on the terms of the settlement.

    Wisconsin Auto Title Loans denies doing anything wrong or that any customers were injured or “resulted in actual damages,” according to the settlement.

    “Nevertheless, the defendant has concluded that it is desirable and beneficial to the defendant that the action, including any claim for attorneys’ fees, be settled to avoid the burden, expense, risk, inconvenience and substantial distractions from ongoing litigation,” the settlement states. .

    The case began in 2002 as a private class action lawsuit brought by the Legal Aid Society of Milwaukee, which alleged that Wisconsin Auto Title Loans engaged in false, deceptive, misleading and impermissible conduct in selling contracts mandatory “car club” service in connection with auto title loans.

    The state, including the Wisconsin Department of Financial Institutions and the Department of Agriculture, Commerce, and Consumer Protection, then stepped in to seek consumer restitution, penalties, and other relief under the State consumer protection laws.

    The “arm’s length negotiations” between the company and plaintiffs spanned more than a decade, the settlement says.

    As part of the settlement, Wisconsin Auto Title Loans would be prohibited from selling Continental Car Club memberships for two years after the day of the judgment, which would result in more than $3 million in lost revenue for the company. said the AG’s office.

    Wisconsin Auto Title Loans is owned by Community Loans of America.

    For more consumer stories, visit the Public Investigator’s blog at


    Twitter: @GitteLaasbyMJS

    About Gitte Laasby

    Gitte Laasby is the public investigator for the Milwaukee Journal Sentinel. She investigates government issues and consumer affairs.

    The problem with car title loans is NOT that people lose their cars | News

    A stock lending store in Nashville, Tenn. (Joe Howell/Vanderbilt)

    According to three researchers led by Vanderbilt’s Paige Marta Skiba, the standard swipe at car title loans is a toothless claim that the deal leads to people losing their cars and then their jobs because they have no means. transportation to get to work.

    “Repossession affects few borrowers, and our evidence indicates that most borrowers will not lose their only way to work because of repossession,” said Skiba, associate professor of law at Vanderbilt Law School. . “Thus, prohibitions on title loans based on the premise that borrowers frequently lose their vehicles are wrong.”

    Title loans are small, short-term, high-cost loans secured by a vehicle that the borrower usually owns. These loans, as well as payday loans, are used by many people excluded from the traditional banking system. The most common term for title loans is one month and the interest rate is usually around 300%, when expressed as an annual percentage.

    If the borrower defaults on the loan, the lender can repossess the vehicle from the borrower.

    Skiba, Ph.D. in Vanderbilt Economics. student Kathryn Fritzdixon and Jim Hawkins, assistant professor of law at the University of Houston Law Center, surveyed 400 title lending clients in three states (Georgia, Idaho and Texas) in partnership with a title lending company in November and December 2012. The three states have distinct approaches to securities lending regulation, but enough similarities to allow meaningful comparisons.

    their study, Dude, where’s my car title? : The Law, Behavior and Economics of Securities Lending Marketscan be read at It will be published this year in the University of Illinois Law Review.

    Paige Marta Skiba (Vanderbilt School of Law)

    The study showed that less than 10% of vehicles involved in title loans ended up being repossessed. Additionally, less than 15% of borrowers said they had no other way to get to work if their car was repossessed.

    “While not insignificant, this small percentage suggests that the dire consequences the critics predict are unlikely to occur for the vast majority of securities borrowers,” Skiba said. “Rough calculations would put the percentage of securities borrowers who lose their jobs as a result of securities lending at 1.5%.”

    Regulators could be of some help in titling loan consumers, Skiba said. Research shows that most title loan customers are overly optimistic that they will repay their loans on time, which means the loan ends up costing them much more than they realize when they pay it back. receive for the first time.

    “Policymakers should require securities lending companies to publish information about how people actually use securities lending: information about how many times people renew their loan, the total amount of those renewals, the number and amount of late fees and other charges people pay and the likelihood of default on the loan,” the study read. [lquote]”Research has shown in real-world markets that disclosure rules can be used to inform people about how others are using loans, which can change their expectations about their own use of the product.”[/lquote]

    Auto title loans put borrowers’ wheels at risk: Plain Dealing

    The payday loan industry is tempting cash-strapped Ohioans with an even riskier product: auto title loans.

    Consumers who cannot repay these expensive short-term loans could lose their car.

    Like payday loans, auto title loans have triple-digit annual percentage rates and fast payback times. Lenders make money by issuing a series of new loans to pay off old ones, which can be due in as little as two weeks to a month.

    But because auto-title loans are secured by a consumer’s car, cash-strapped borrowers could find themselves without wheels if they are unable to pay, according to a Ohio Policy Issues Report which sheds light on automatic securities lending, which is relatively new in Ohio.

    “Linking something like your car to one of these loans is incredibly dangerous,” said David Rothstein, author of the report released today.

    Policy Matters found that auto title lenders skirted the same legal loopholes exploited by payday lenders after Ohio capped annual interest rates on short-term loans at 28% annual percentage rate, or APR.

    By examining two lenders, Policy Matters found that the structure and cost of the loan varied depending on the law the companies used to issue the loans.

    For example, Policy Matters found that Ace Cash Express provides two-week loans directly to consumers, placing a lien on a borrower’s car title until the loan is paid off. Ace’s loans, Policy Matters said, are issued under state mortgage law and carry an effective APR of 350%.

    LoanMax acts as a loan broker and is licensed as a Credit Service Organization, or CSO, another license used by payday lenders to circumvent the price caps of the United States Short-Term Loans Act. ‘State. LoanMax connects its customers to Integrity Funding Ohio LLC, a South Carolina-based lender that is licensed here under mortgage law.

    Ohio’s “Keys as Collateral” report looked at a LoanMax client’s contract and found an effective APR of 371%.

    Ohio voted in favor of the Short-Term Loans Act in 2008 in an effort to limit payday loans. The law, which capped APRs and gave consumers at least one month to repay a loan, was largely ignored by payday lenders.

    None are currently permitted under the Short Term Lending Act. In a case involving Cashland stores, the state’s Ninth District Court of Appeals recently ruled that lenders who provide payday loans outside the short-term loan law must settle for the default of the lender. ‘State. interest rate of 8% if they take legal action to recover defaulting customers.

    Citing that ruling, Policy Matters Ohio urged the Ohio Department of Commerce and Attorney General’s Office to use their authority to prohibit lenders from using in issuing payday loans and auto title loans under the Credit Services Act.

    He also recommended that the General Assembly create legislation expressly prohibiting the lending of automobile securities.

    Follow Sheryl on Twitter: @consumerwriter

    On Facebook: PDConsumerAffairs

    Hundreds of Vespa putt-putt scooter enthusiasts in New Orleans | Entertainment / Life

    The big man walked up to Savannah Porter and said, “Let me guess, you are the person who owns this scooter.”

    “I guess people tailor their scooters,” said Porter, 23, whose pink and green strands in her shoulder-length blonde hair match well with her new meerschaum green scooter and custom multicolored seat.

    To prove his point, Porter pointed to a pink scooter with a pink leopard-print seat. Its owner, she said, was the petite woman in a skirt and heels, holding a parasol.

    As she spoke, a two-wheeled cycle passed, its two-stroke engine producing the distinctive putt-putt sound that has been heard for half a century in Italian squares. (Vespa means “wasp” in Italian). It’s also become more common in this country’s urban landscape, as evidenced by the 500 scooter enthusiasts from across the country who converged on New Orleans for the weekend.

    Organized by the Vespa Club of America with support from the New Orleans Scooter Cooperative, AmeriVespa 2011 is more of a rally than a conference. So, rather than watching PowerPoint presentations and panel discussions, delegates and their buzzing scooters will spend more time visiting the city and enjoying its culture.

    Enthusiasts have joined a club with a stylish history. They follow in the footsteps of movie stars, including Audrey Hepburn and Gregory Peck in “Roman Holiday”. Gwyneth Paltrow, Sarah Jessica Parker, Charlie Chaplin and even Louis Armstrong are said to be other well-known and actual Vespa owners.

    Spanish surrealist artist Salvador Dali created what is believed to be the world’s most valuable Vespa with his signature and other artistic additions; his bike is now part of the collection of an Italian museum created for the manufacturer of Vespa, Piaggio.

    Porter, who paid $ 3,200 last month for his real scooter, a Buddy model, compared his ratings on Friday with two other AmeriVespa newcomers, Laura McCalla and Jared Fuller.

    The couple, both 25, recently purchased their second-hand Sunset Buddy for $ 1,700. For this weekend, they towed him from Amarillo, Texas.

    Most AmeriVespa scooters arrived in town in trailers, although some were hung from trailer hooks or tied to pickup beds. A few groups, from the East Coast and California, drove the bikes to the conference en masse and others went solo, including a woman whose bike caught fire outside of Harper, TX, l ‘forcing her to abandon her journey, even though she was not injured and was not injured. in New Orleans anyway.

    Porter said that during her month on the scooter, she found that the typical New Orleans street chatter increased for scooters. “People talk to you a lot,” she said.

    And although she lives on Broadmoor, she’s learned to avoid Broadway at all costs – too bumpy – and keep an extra headset under her seat for friends who want to take a ride. “It’s really good with gasoline,” Porter said, noting that she can pay $ 4 to refuel and that it can take anywhere from a day to two weeks.

    The life of her tank depends on her mileage and whether or not she has a passenger, she said. “Which I usually do; all my friends want walks.”

    Fuller and McCalla said their scooter can comfortably ride at around 60 mph.

    Tom Hunter, 55, a member of the Milwaukee Scooter Rats Club, said he avoided freeways, preferring the speeds of city streets. Once, on his 1966 red Vespa, “I hit 72 going downhill, saw God and slowed down,” he said.

    And although Hunter’s club members put their bikes away for much of the winter, Lawrence Murphy said he’s been riding in temperatures as cold as 19 degrees on his matte black Vespa, which has a rubber rat. on its floor and a cast iron rat mounted on the front, as a figurehead of sorts.

    Pam Mackey, 58, the woman holding the umbrella, brought her real pink scooter, a model Stella, in a trailer from Memphis, Tenn., Alongside a Cushman Eagle scooter owned by her husband, Ted Mackey, 70 .

    The two are common in downtown Memphis with Momo, their Chihuahua, sitting in Pam’s basket with rose-colored glasses and a small pink helmet.

    All “scooters” try to give their rides their own personality, said Pam Mackey.

    “Mine is a fast pink bike with a lot of bling,” she said.

    Katy Reckdahl can be contacted at [email protected] or 504.826.3396.

    Purchases made through links on our site may earn us an affiliate commission

    Biker tribute to John Norman Martin

    A HUGE scooter procession is expected to pass through Bishopthorpe today for the funeral of a York scooter enthusiast known to his friends as “Vespa John”.

    The death of John Norman Martin, 53, was greeted by family and friends with shock but also with warm memories of a “quite decent guy”.

    He died suddenly in his sleep at his home in Bishopthorpe on March 30.

    His girlfriend, Hayley Owen, 21, said the last time she and John were together was on a scooter from Knaresborough to York, just days before she died.

    She said: “I met John through the Inset Scooter Club – we did it all together. She was a soul mate.

    “It’s a big shock for everyone. The Sunday before his death the sun was shining and we looked forward to summer. Everyone was saying how good John looked.

    John Martin was born at Campleshon Road in York and was a student at Tadcaster Grammar School. He was an early member of the York Scooter Club when it was founded in the 1970s, and when he wasn’t playing scooters, John loved flash cars as well.

    His sister, Dawn Pawson, said: “He once had a Starsky and Hutch car – red, with a white stripe. He also had an MG, but he always came back to scooters.

    “The scooter guys were always around our house. My father was never able to drive his car.

    For the past seven years John had been a member of the Inset Scooter Cub where he was a familiar site on his Vespa, called “CHIPS”, which was decorated in the colors of an American police motorcycle.

    Fellow and friend Nick Beilby said: “He loved being a part of the scooter scene.

    “Whenever we went for a scooter run and one of us broke down, as we invariably did, he always helped.

    “I know it’s a cliché, but he didn’t have a bad say in anyone. He was a really nice guy and he will be missed.

    Alan May, founder of York Inset, said: “He was a popular member of the club and could always be relied on to show up at gatherings. He was a good guy in every way.

    Bikers and scooter riders are expected to gather this morning at 10 a.m. to pass St Andrew’s Church for Mr Martin’s funeral at 10:30 a.m.

    Frampton’s mother’s safety appeal to scooter drivers

    A MOTHER who lost her daughter in a scooter accident 10 years ago has issued a safety warning to all road users on two wheels.

    Cathy Loving’s daughter, Jo, was 17 when she was killed in an accident on the A37 at Wrackleford, north of Dorchester.

    Cathy, from Frampton, was deeply shaken by the tragedy but did her best to get something positive out of it and every year she hosts a fun day to raise funds to help promote road safety in memory of Jo.

    She said: “It’s about making people on two wheels aware that people on two wheels are vulnerable and making them think. It’s not just motorcyclists and scooters, but cyclists as well.

    Cathy says the fateful night of July 20, 1999, when she lost her daughter, appears to be “only yesterday”.

    She said: “She was coming home around half past nine or ten in her Vespa on the A37 when a car hit her head on.

    “He just didn’t see her and she died at the scene.”

    She added: “It’s like it’s still yesterday, but when you think about it, 10 years is a lifetime. Now that the 10 years have passed, I think about what it would have been like now.

    Cathy said her campaign, which grew out of these tragic events, was not aimed at scaring people away from scooters, motorcycles and bicycles. This is to raise awareness of the use and enjoyment of safe two-wheeled transport.

    She said: “Jo was born around scooters and has been around them her whole life.

    “When I gave her younger sister Charlotte her first scooter, someone said I must be mad at what happened.

    “But I didn’t want to take away his independence, I couldn’t do that.

    “We just want to educate people as much as possible about the dangers of the road.

    “I just hope people embrace it and ride sensibly, and they realize that there are people on the road who don’t care about other road users.”

    Good option for quick cash? – Denver Post

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    You need money fast, but what if a bad credit rating prevents you from accessing traditional short-term loans or lines of credit? Taking out a car title loan is a way to get your hands on quick cash with no credit check and minimal income verification. It may sound simple enough, but this type of loan can lead borrowers to take on more debt and, in extreme cases, go without a car.

    How car title loans work

    If you were to take jewelry or other valuables to a pawn shop, an employee behind the counter would appraise your items and issue you a loan based on the value of your items. In this case, the pawnbroker will lend you money and charge interest. If you do not return the money within the agreed time, you will lose your items. This is similar to how a car title loan works.

    In a car title loan, the lending company assesses the price of your car based on wholesale values ​​and then grants you a loan based on the value of your car. The lending company then retains title to your car until your loan is paid off. The loan is not similar to when you purchased your car. This loan is a short term loan with a high interest rate; if you don’t pay the money back within a specified time – with interest – you’ve essentially sold your car to the default lending company.

    Who is eligible

    Since this type of loan is based on the equity you have accumulated in your car, with most title loan companies you will need to own your car. If you still owe money on your car loan, the title to your car is still with the bank, so you can’t use it as collateral for a loan. Other requirements may include a minimum age, proof of your residency, and proof of your income.

    Read the big print and the small print

    Driving your car to the title company to get the cash you need quickly might seem simple enough, but before you give that loan the green light, you need to know what you’re legally getting into. Look for the following information in your contract:

    * How interest is calculated and the period for which the interest rate is calculated. For example, an interest rate of 3% may seem acceptable until you read on and see that it is 3% per month, which equals 36% per year. Also keep in mind that because car title lenders are in a different class than credit card companies or banks, they are not subject to usury laws and are therefore able to charge higher interest – much higher interest.

    * What are the penalties for late payment or non-payment. Can a late payment lead to the withdrawal of your car? Does the interest rate on the loan increase or are additional fees charged for late payments?

    * What are the mitigation rules? Are you required to go through mediation or can you sue the loan company if it becomes necessary later?

    Alternatives to Car Title Loans

    As with any loan, it is important to assess what other alternatives you might have to acquire the money you need. Compare the interest rates and penalties of other loan options that may be available to you.

    * Credit Cards: If you need cash on the fly, be sure to compare your credit card rates with a car title loan. If your credit card doesn’t have a high enough limit to cover the money you need, call your credit card company and ask for a higher limit. The better your payment history with them, the more likely you are to increase the credit limit. You’ll still want to make sure to compare the rate, which should be lower than borrowing with a car title loan.

    *Emergency work loans: Your company may have an emergency loan program available to help employees with short-term financial constraints. Programs vary from employer to employer, but the loan can be interest-free or have a low interest rate set by your employer. Repayment terms also vary. Contact someone in your company’s human resources department to see if this is a service available to you.

    * Payment extensions: If you are considering borrowing money due to an emergency, such as needing money to pay your utility bill or rent, check to see if the recipient ( your utility company or landlord) will grant you a payment extension. A 30-day payment extension on your utility bill or a five-day extension on your rent could save you from spending high interest on a car title loan. If you receive permission to pay your rent late (payment extension), be sure to get the rent extension in writing so you don’t go to work one day and come home to find the locks removed. And, be sure to ask your apartment management company what your late fees will be, so you can carefully weigh your options.

    * Personal loan from your bank: Banks offer personal loans with lower interest rates than car title loans, but may not be better than your credit card rates. The advantage of a personal loan from a bank is that you can discipline yourself to repay it within a set time frame, as there is a set number of months in which you must repay your loan.

    * Payday Loans: Although payday loans can also charge high interest rates, you won’t lose your car if you break your contract due to late or non-payment.

    * Pawning other valuables: If you’re considering getting a loan or selling a valuable asset to get the cash you need quickly, it might as well be something you can afford risk, like a guitar you don’t play. more or jewelry you never wear. Along the same lines, you may be able to receive more money for your items if you are willing to wait a bit longer, such as by selling your stuff through an online auction or online storefront. , such as eBay or Amazon.


    Car title loans are one way to get cash when you need it, but they’re not the only way. If you need money fast, look for other options, such as credit cards, personal loans, payment extensions, payday loans, emergency workplace loans, and selling items you no longer use.

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    Safety course for scooter riders

    Gasoline prices fuel scooter sales, but much of the appeal of scooters is their non-threatening profile and ease of use. You don’t swing one leg on a scooter like you would on a motorcycle. You just take the plunge and sit down. You also don’t need to master a manual transmission. You just turn the handle and go.

    Yet scooters are prone to many of the same safety concerns as motorcycles. Their size makes them difficult for drivers to see, and on smaller displacement models in particular, their low horsepower makes mixing with fast traffic more difficult.

    If you want to ride a scooter and aren’t already a regular two-wheeler, the Motorcycle Safety Foundation has a few recommendations.

    First, start riding a bike – “just to get used to balancing on two wheels and using the hand controls,” said Ray Ochs, MSF’s director of training systems. “Make sure you’ve integrated motor skills. It is very, very important.

    Once you have mastered these skills, you would do well to enroll in a safety course. MSF is the organization that provides most of the motorcycle safety training programs in the 50 states. Two of these courses apply to scooters. His Scooter School is a beginner’s class that teaches riders street strategies as well as how to use the controls on scooters 200cc and smaller. The four hour course offers riders a series of 10 exercises, but it does not end with a skill test; they will still have to pass the driving test required by the California Department of Motor Vehicles to obtain the M1 license to operate a motor vehicle, without pedals, of 49 cc or more. Scooter school is not currently available in California, so a better option is the Basic RiderCourse administered by the California Motorcyclist Safety Program. The 15 hour course is the same safety course recommended for novice motorcyclists. It includes five hours of classroom instruction to familiarize drivers with the safety concerns of operating a two-wheeled motor vehicle on the street and 10 hours of driving that teaches proper starting, stopping, braking and cornering. The class ends with a skill test which, if successful, overrides the driving test at the DMV; the written test remains compulsory for the M1 license.

    Most sites use 250 cc motorcycles, but scooters are welcome. Beginner cyclists can bring their own or borrow one from a site that already has a scooter in its regular fleet. Sites in the LA area that have scooters available for loan are: West LA, the San Fernando Valley, and Long Beach.

    I recommend taking the course before buying a scooter, just to make sure the scooter is right for you. This way, you can find the answer in a safe environment without spending or risking anything other than the cost of the course, which is $ 150 to $ 235.

    For more information on the nearest BRC and class availability, call (877) 743-3411 or visit