DTI to ban ‘installment only’ on motorcycle purchases

Date posted on February 16, 2021
Share this

From the Philippine News Agency:

The Department of Trade and Industry (DTI) is preparing a department administrative order (DAO) that will prohibit dealers of motorcycles from selling units on installment basis only.

At the Senate Committee on Accountability of Public Officers and Investigations hearing Monday, DTI Secretary Ramon Lopez said the DAO should provide consumers options to purchase motorcycles on cash or through installment payment.

Lopez said based on reports that DTI received, some dealers “forced” buyers to purchase the motorcycle on installment scheme while there are those who do not offer the cash payment option.

We will issue a department order, because we heard these complaints, to address the concerns on installment sales,” he said.

He added the DTI received 3,060 consumer complaints relating to motorcycles, which include non-release of official receipt and certificate of registration (OR/CR), defective units, the refusal for motorcycle dealers to release the certificate on full payment, and the practice of dealers offering ‘sale on installment only’ even the buyer is willing to pay the full value in cash.

To date, 287 complaints were resolved through mediation, Lopez said.

The remaining 2,633 complaints were those regarding the delay of the issuance of OR/CR and plate number and transfer of registration or insurance that are not covered by DTI and were endorsed to the Land Transportation Office.

The Senate Blue Ribbon Committee hearing tackled the alleged malfeasance and nonfeasance in the implementation of the Motorcycle Crime Prevention Act, or Republic Act 11235.

Moreover, Lopez agreed to Senator Richard Gordon’s point to issue OR/CR and plate number to motorcycle buyers even on installment payment.

Source PNA

See also

General News

JV Ejercito: Barrier is A Symbol of Unnecessary Over Regulation

Date posted on August 9, 2020

Viñales Celebrates Superb Victory at Drama-filled Emilia Romagna GP

Date posted on September 25, 2020
General News

Travel Pass Needed to Go to Tagaytay for Non Cavite Residents

Date posted on September 15, 2020
Industry News

Congressmen to IATF: Please Allow Motorcycle Backriding

Date posted on June 10, 2020

“Blossom” Yamaha Fino Triumphs in Bacolod IR Bike Show

Date posted on April 16, 2020
General News

Is your motorcycle registration due this month??

Date posted on February 27, 2021
Skip to toolbar