Hello,
Since you are new, let me give you some advice on buying bikes.
Buying 2nd hand from shop
-Survey few shops to get the average price of the bike u want
-Some reputable shops I recommend is AsPhoon because they are well-known to be good and has no early settlement fees.
Buying 2nd hand from person
-You have to pay in full and not in installment
-If you carry on installment (COI), ask the bikeshop if you can transfer ownership at a fee. Do not add in your name as subrider and pay monthly installments. This is because when you finish paying installment, he has the right to refuse transfer of ownership as he is still the owner. You can't say anything. (This is because you mainly cannot transfer ownership while the bike is under installment. Some bike shops like ASPhoon allows this at a price)
-When you agree to buy a bike from a person, here's the procedure u can follow. Go to Insurance Company (like NTUC), buy your insurance. Go to LTA at Sin Ming to transfer ownership. Once ownership transferred, pay him the money.
-Check whether the bike got outstanding summon first (https://onepay.onemotoring.com.sg/onepay/erp/getRecord.do)
Renew COE
-If you renew 5 years, you cannot renew COE again. Essentially you have to scrap the bike. Nobody wants to buy a bike with 5 years renewed COE.
-If you renew 10 years, you can renew COE once it expires again. Value of bike retain. COE will be slightly expensive between $1500-2000.
Insurance
-Generally, try to get 3rd Party. If you think people will steal your bike, get 3rd party Fire and Theft.
-I like NTUC because you get better customer service. They have "Orange Force" which is good in case you have accidents. Just call them and they will advice you on the procedures and bring you to Vicom to inspect damage.
Good luck and read well before you buy a bike.