Bike Installment Via AXS machine

[Devilsown]

Hi People,

 

what do you guys think of doing ur bike installment via AXS machine...

will it save you guys alot of time and hassle of going down to motordiam? or its problematic? and will the payment of installment be more prompt?

 

Any comments?

[moreira88]

actually it would be more convenient..

 

BUT... there's always a BUT....

the problem is when disputes arise.. like when you pay.. the motordiam nvr receive.. say you nvr pay.. then suay suay machine cannot print receipt.. den jia lat..

 

somemore worse still you pay they can say nvr pay.. then say the receipt dun have their companies' official stamp all that bull....

 

so a lot have to take into consideration....

[Echo]

It will be better if one day motordiams do that. nowadays, people are looking more into convenience and cashless transaction is one of the main factor.

[moreira88]

ya i agree.. everyone just wants convenience.. so if it's possible that all the flaws are removed from the system, this would be a really feasible idea...

[casiolover]

gd idea.. the bike shop must establish this system.. think not cheap for them to have this system... AXS may charge them for the services.. who knows .. just a remark

[kennethy]

problem is that AXN will incur a 'admin fee' to the motordiam for collecting the installment on their behalf.

 

although i do not know what is the amount of admin fee, but i do not think that motordiam will be interested to pay for that. just an example, ASPhoon has stop supporting NETS payment due to the increase in the NETS transaction fee...

[Devilsown]

problem is that AXN will incur a 'admin fee' to the motordiam for collecting the installment on their behalf.

 

although i do not know what is the amount of admin fee, but i do not think that motordiam will be interested to pay for that. just an example, ASPhoon has stop supporting NETS payment due to the increase in the NETS transaction fee...

 

good point!

=)

 

would you mind incurring the admin fee yourself, just to save the hassle of going down the motordiam? example $1-2 dollars?

 

Thanks for the valuable comments....keep it coming....

[Echo]

good point!

=)

 

would you mind incurring the admin fee yourself, just to save the hassle of going down the motordiam? example $1-2 dollars?

 

 

Thanks for the valuable comments....keep it coming....

 

It is not only convenient for us, but to the shops as well. that is why many banks, financial institutions, government bodies are doing that. It is less hassle to the motordiams in collecting cash, less paperworks and easy monitoring of installments paid.

 

But I dont think customers should incur the admin fee to themselves, this is a favorable alternative for customers and the shops themselves. Just like how the current participating organisations(eg. courts) feel too.

[ozzarhomb]

i feel that will be a good initiative to pay through AXS, some shops do Giro deduction which is even more convenient actually. my bike shop don't so i have to go down every month to pay installment, quite stupid i feel. worst still, that lousy place don't even accept nets so must do on cash terms.

[YahooRider]

I dun mind as my bike shop can do posb saving transfer.. that why choosing a gd bike shop is critical to me . As i lazy to go every once a month

[StaN]

1 customer the shop pays the admin fees of $1-$2... say the shop has abt 300 customer paying installment by AXS.. it will be loss of $300-$600/mth

 

if u r the boss...... wld u? accept the losses?

[xjrredbull]

Mine uses cash....no AXS no NETS...

[BlackDawn]

I use GIRO. Lagi no hassle, no need to look for AXS & no need to do bank transfer.

[WildCard]

actually it would be more convenient..

 

BUT... there's always a BUT....

the problem is when disputes arise.. like when you pay.. the motordiam nvr receive.. say you nvr pay.. then suay suay machine cannot print receipt.. den jia lat..

 

somemore worse still you pay they can say nvr pay.. then say the receipt dun have their companies' official stamp all that bull....

 

so a lot have to take into consideration....

 

AXS transactions using NETS will reflect the transaction number onto your bank statements. You can either wait for a monthly bank statement or just log on to your iBanking and check the transaction date, time and number.

There's no way a shop can bluff its way out this one.

If using AXS means the shop has registered with AXS. No such thing as no company stamp. The receipt its proof enough.

As an example, Starhub accepts AXS receipts as proof-of-payment.

 

 

I pay mine by ATM transfer to my shop. No admin fees, no need to go down except to take my receipts once every 2-3 months.

My iBanking statement will reflect the date & time of such payments and is a good enough receipt as it reflects clearly the shop's name until I go down to take my actual receipt.

[elf]

the problem is the offices close quite early ... and open quite late ...

its either you open early and close early or open late closes late ...

there's this time i experience with this shop whom says they open at ten ... i took time off in the morning and turn out they open at 1130 close to lunch ... by then i really need to go ...

and worst when i ask what time they close ...

they close at 1730 ...

shessh ...

[Devilsown]

will the easier mode of payment affect your decision in buying a bike from the shop?

 

lets say, u stay in the west, and want to buy a bike from east area(better after sales service,reputable etc) however, due to the long distance and hassle of paying installment, u decide to settle for a bike shop nearer to your hse?

 

better mode of payment = higher sales chances ?

 

any comments?

[hydrop]

Best is can pay by credit card with interest free installments Imagine the amount of points and rewards u can get .....

[rykros]

payment by bank transfer will be a good or by giro.... axs, not really tat good... but like wat hydrop said, if can pay by credit card, wow!! lots of pts can get... lagi best 0% interest free installment... bikeshop will lose out on this...

[zelot]

better mode of payment = higher sales chances ?

 

any comments?

that will be a factor but will not be in the most impt factors that one will usually consider though. my pov tat is~

[Arcfire]

That is perhaps one of the reasons why motorshops dun accept credit card payments. Again, cost factors. Also, imagine the 2-5% charges the banks levy for a transaction, you buy a 15k bike, the transaction fee can come up to abt $700. I doubt either the buyer or the bike shop would be willing to fork out that additional sum.

 

But again, with additional modes of payment i definitely believe that it will increase sales.

 

I support the idea of using AXS for payments, makes it easy and convenient especially for working class pple. You knock off, bike shop oso close liao... only can pay on weekends and weekends are important to pple as they wan to rest an relax, not travel all the way to your bike shop to pay installments.

[Arcfire]

that will be a factor but will not be in the most impt factors that one will usually consider though. my pov tat is~

 

There is a point in that..... but if you consider all other factors equal(eg. price of bike otr, location, service) one store offers multiple forms of payments(nets, cash, cc) while the other accepts only cash. Its really a no brainer.

 

And also when you want to pay your d/p or clear your loan earlier, it really feels crappy to be drawing a few Ks from ATMs and carrying it while on your way to the bike shop.

[Ah_Ben]

will the easier mode of payment affect your decision in buying a bike from the shop?

 

lets say, u stay in the west, and want to buy a bike from east area(better after sales service,reputable etc) however, due to the long distance and hassle of paying installment, u decide to settle for a bike shop nearer to your hse?

 

better mode of payment = higher sales chances ?

 

any comments?

 

If... (Bike & Shop)

there is a bike shop at changi

there is a bike shop at jurong

I am staying at boonlay

The bike sells cheaper by 1k.

Drag installments for 4 years.

Total paying extra is SGD1200 if i buy from a jurong shop

Monthly I will save 1200 / 48 = SGD25, if i buy from changi shop

 

If... (Rider)

take for example if you earn 3k a month

Your hr pay is SGD13.88

 

If... (Condition)

Takes 2 hrs to travel and wait at bike shop

Petrol Cost

Mileage / Servicing Cost

Inconvenient to travel so far just to pay

 

 

Above example is if you take those small small matters into consideration.

 

I would still choose to buy from a slight more expensive shop which is of more convenience. I am one whom believes Time is Money, but Money cannot buy time.

[BlackDawn]

Best is can pay by credit card with interest free installments Imagine the amount of points and rewards u can get .....

 

In theory, this will only work if your credit limit is higher than your total loan amount.

 

Example, if you loan $12k to buy a Spec III, your credit limit must be at the very minimum $12k in order to qualify for any credit-card installment plan.

 

Credit limit must cover the total loan amount, NOT just the monthly installment

[Ah_Ben]

1 customer the shop pays the admin fees of $1-$2... say the shop has abt 300 customer paying installment by AXS.. it will be loss of $300-$600/mth

 

if u r the boss...... wld u? accept the losses?

 

Brother, for me which runs operations would think otherwise.

 

I understand that admin fees should not be based on per transactions for such services but such service providers should provide a monthly flat rate based on the volume of use.

Let take an example that this bike shop is so huge and of a big operation scale that it cost a flat rate of monthly S$1000 / month. If I am the boss whom did proper planning and consideration. I would rather pay the S$1000 compare to employing an admin to handle this take.

Basically using such service providers, they would just send me a statement saying the list of ppl paying for that month which is much easier to track and update.

Compared to employing another admin

1) whom I need to pay about S$1200 + S $174(employer cpf)

2) give her minimum 7 days annual leave & 14 days medical leave a year .

3) her AWS and/or variable.

4) all the trouble with dealing with "humans".

5) all the receipt which I have to issue per month. (cost as well)

6) the mess of all the files and paper work to be done.

7) the number of bikers queing to pay for installments.

 

Honestly, the motorcycle industry in Singapore is still very back dated in term of using IT to its advantage. Mention by many brothers here, alot of "Motordiam" think short term rather then long term and the whole picture, like "CASH TERMS ONLY".

 

Nets is a classic example, they only see the cons and short term lost which is the additional cost involved. They do not see pros of holding onto less cash, convenience, the tendency of employee fraud & thieft, less running trips to the bank for depositing.

 

I would definitely give my "Thumbs Up" for this move. Even if we have to pay the administrative charge of S$1. What's 1 dollar against the convenience and petrol saved?

[fabian]

How about this idea of able to renew our motor insurance using axs?