Installment scheme and capacity to pay: motorcycle drivers in focus in barangay Peñaplata, District II, Island Garden City of Samal

Abstract

The study entitled "Installment scheme and capacity to pay: motorcycle drivers in focus at Barangay Peñaplata, District II, island Garden city of Samal." This study aimed to determine the capacity of motorcycles drivers to pay their installment payment. This study used descriptive method in gathering information. The result of study imply that most of the motorcycle drivers availed an installment scheme raging to 2000 - 3000 pesos monthly covered within three (3) years with a total of 39 drivers or 86.67% of the respondents. While there are only (6) respondents who availed an installment scheme amounting to 3001 - 4000 pesos per month and covered within two (2) years or 13.33% of the overall respondents. It also showed that only 19 or 42.22% out of 45 motorcycle drivers are capable of paying their installment while 26 or 58.78% are not capable of paying their installment. This implies that more than half of the respondents cannot pay their availed installment. It is recommended that motorcycle drivers should strive more in picking up passengers in order to increase their monthly income so that they can pay their monthly amortization. Motorcycle drivers should also think for another source of income that will help them get additional money to pay their motorcycle.