I am now having a bike that is under installment, at first i thought of paying everything one shot then sell the bike away, only then i realised I cant as agreement of the installment state that i cannot transfer ownership until the end of loan date.
So i am now looking at selling it, letting the new rider continue my installment.. i have a few questions about that:
1. Does this process involves the bike shop? do they need to be notified?
2. If the buyer take up as 2nd rider, do i still have to pay for the insurance for myself even though i 'sold to him' not riding that bike?
3. what's the steps if one agree to pay me some cash n carry on installment?
Please help me! Thanks