101 ways to sell your bike...

[d0n]

hi i have a qsn with regards to selling bikes,

 

saying now i have a buyer who alrdy decided to buy a bike. What are the procedure that i must follow?

 

Currently i have asked the buyer to go and settle the insurance for himself. so after he got the insurance certification we just have to go down to lta for the transfer izit?

 

So wanna cfm smth, at the lta after getting the payment for the bike, signed the paper then the bike belongs to the buyer alrdy and not me izit?? so after this part is the transaction consider completed?

 

1. money reaches u and bike reaches buyer

2. ownership transfer completed

 

doesnt matter point 1 or 2 takes place 1st. as long as both point 1 & 2 take place, then the deal is completed.

[kosmos]

hmm so what u meant is buer muz recieve payment sellewr got his bike all completed rite??if buyer got himself into any trouble then it wouldn't be my fault alrdy rite?

[wX]

Steps to sell a bike from private owner to private seller (no outstanding loan)

 

Step 1 (Seller and Buyer)

Upon viewing of bike, both owner and buyer will need to sort out some details:

- Deposit to be put?

- Date of transfer?

- Who to pay for transfer fees?

- Agreement signing?

- Owner and Buyer to be at LTA together? or are any of you comfortable to let someone you don't really know well disappear with your IC for a few hours.

 

Step 2 (Buyer)

Buyer will need to buy his own insurance from his preferred insurance company. So far I kinda prefer NTUC (bad experience with other insurance). so it is really very much up to the individual. Seller can provide a copy of the log card for the Buyer to purchase his insurance. Alternatively, Buyer can quote the bike registration no. to the agent for them to check online.

 

Step 3 (Buyer and Seller)

Date of transfer. On the assumption that both Seller and Buyer is at LTA, it is best that the Seller collects $$ from the Buyer first. If you were to transfer the vehicle, and the Buyer refuses to give you the money, you will have a tough court case. After transfer, hand over the bike keys with the bike, and all is done.

 

Step 4 (Seller)

Seller to proceed to terminate Seller's insurance.

 

The above steps is based on a bike which doesn't have any outstanding loan. So the steps are really pretty straightforward

 

Useful Links:

 

Transfer Fee enquiry

https://vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=EnquireTransferFee

[kosmos]

Steps to sell a bike from private owner to private seller (no outstanding loan)

 

Step 1 (Seller and Buyer)

Upon viewing of bike, both owner and buyer will need to sort out some details:

- Deposit to be put?

- Date of transfer?

- Who to pay for transfer fees?

- Agreement signing?

- Owner and Buyer to be at LTA together? or are any of you comfortable to let someone you don't really know well disappear with your IC for a few hours.

 

Step 2 (Buyer)

Buyer will need to buy his own insurance from his preferred insurance company. So far I kinda prefer NTUC (bad exxperience with other insurance). so it is really very much up to the individual.

 

Step 3

Date of transfer. On the assumption that both Seller and Buyer is at LTA, it is best that the Seller collects $$ from the Buyer first. If you were to transfer the vehicle, and the Buyer refuses to give you the money, you will have a tough court case. After transfer, hand over the bike keys with the bike, and all is done.

 

Step 4 (Seller)

Seller to proceed to terminate Seller's insurance.

 

The above steps is based on a bike which doesn't have any outstanding loan. So the steps are really pretty straightforward

 

whoa...pretty clear man...thx alot...

[tweakmax2]

Steps to sell a bike from private owner to private seller (no outstanding loan)

 

Step 1 (Seller and Buyer)

Upon viewing of bike, both owner and buyer will need to sort out some details:

- Deposit to be put?

- Date of transfer?

- Who to pay for transfer fees?

- Agreement signing?

- Owner and Buyer to be at LTA together? or are any of you comfortable to let someone you don't really know well disappear with your IC for a few hours.

 

Step 2 (Buyer)

Buyer will need to buy his own insurance from his preferred insurance company. So far I kinda prefer NTUC (bad experience with other insurance). so it is really very much up to the individual. Seller can provide a copy of the log card for the Buyer to purchase his insurance. Alternatively, Buyer can quote the bike registration no. to the agent for them to check online.

 

Step 3 (Buyer and Seller)

Date of transfer. On the assumption that both Seller and Buyer is at LTA, it is best that the Seller collects $$ from the Buyer first. If you were to transfer the vehicle, and the Buyer refuses to give you the money, you will have a tough court case. After transfer, hand over the bike keys with the bike, and all is done.

 

Step 4 (Seller)

Seller to proceed to terminate Seller's insurance.

 

The above steps is based on a bike which doesn't have any outstanding loan. So the steps are really pretty straightforward

 

Useful Links:

 

Transfer Fee enquiry

https://vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=EnquireTransferFee

 

 

how abt outstanding summon (parking summon, erp summon... traffic summon) will it come to mi ?

[JackDaniels]

Hey bro, what if I interested in the sellers bike, then downpay him, then the remaining pay next month, is there sort of an officially form?

 

what if i downpay the money then he run away? i checked the lta website they dont haf any such of agreement type of forms.

 

how ?

[d0n]

Hey bro, what if I interested in the sellers bike, then downpay him, then the remaining pay next month, is there sort of an officially form?

 

what if i downpay the money then he run away? i checked the lta website they dont haf any such of agreement type of forms.

 

how ?

 

then it is based on trust.

u can draft up a document + bring up the case to civil court at yr own cost.

thats if u find that it is economically worthwhile to do it.

 

my suggestion is to keep the deal short and sweet.

save up enough money and get the ownership transfer done on the spot.

[shoneyd]

hi all,

 

just enquiring on the steps to write out an agreement letter before any transfer takes place. let say i'm buying a bike from someone but he demands a $300 deposit first to do up some parts of the bike before transferring to me. that itself will take 2 - 3 weeks. i just want to write up one real good with terms and conditions prior to its sale. i dont want him to mia after i pay him the deposit. so how do i ensure that? would appreciate your help. and also, would i still need to get the logcard for the transfer?

[d0n]

hi all,

 

just enquiring on the steps to write out an agreement letter before any transfer takes place. let say i'm buying a bike from someone but he demands a $300 deposit first to do up some parts of the bike before transferring to me. that itself will take 2 - 3 weeks. i just want to write up one real good with terms and conditions prior to its sale. i dont want him to mia after i pay him the deposit. so how do i ensure that? would appreciate your help. and also, would i still need to get the logcard for the transfer?

 

the logcard system is no longer in place.

the proof of ownership transfer is now merely a hardcopy printout off the LTA website.

 

as for the part abt accepting deposit for doing up bike. personally i find it rather suspicious.

 

cant he sell the bike to u at $300 cheaper & then u decide for yrself where to send it for the specific repairs?

 

could this be an indication that the bike has got quite a few worn out parts such that without the repairs, the bike can't function properly on the road?

 

if i am in yr situation, i will get the seller to do up the bike properly and then have a test-ride session to ensure the bike works well before paying any deposit.

 

if the seller has got totally empty pockets and can't fork out any money to repair the bike at all, it probably means he havent got the money to service the bike for quite awhile already & may indicate higher chance that he will run away with the deposit u put with him. agree?

[shoneyd]

actually i felt that the seller was truthful about the faults of the bike. the things he said needed changing would be the valve motor, seat handle, the handle bar, fixing the tail-light and the deposit he was asking for is 200, sorry, typo in the prev post.

 

even so, as suggested it would make a lot of sense if a) either he do up the bike with his own money first and then, after two weeks, i pay the whole lump sum of the cost of the bike or b) i pay everything now and go.

 

on second thoughts, it might show that i'm not sincere in committing to the sale of the bike, which i am, btw. on the seller's point of view, he would have his worries too, such as: what if i do up the bike and then 2 weeks later, buyer decides to back off? things like that, you know? please advice.

[wX]

Hey bro, what if I interested in the sellers bike, then downpay him, then the remaining pay next month, is there sort of an officially form?

 

what if i downpay the money then he run away? i checked the lta website they dont haf any such of agreement type of forms.

 

how ?

 

as said by don^, it is a matter of trust. Of course, you can draft out an "agreement" form to "protect" yourself. but end of the day, to get back the few hundred dollars u put as a deposit, it is really not worth it to spend the time for a court case.

 

anyway, just in case you really want to draft out something, you should include things like both party ic number, full name, vehicle number, price agreed upon and deposit given.

[wX]

actually i felt that the seller was truthful about the faults of the bike. the things he said needed changing would be the valve motor, seat handle, the handle bar, fixing the tail-light and the deposit he was asking for is 200, sorry, typo in the prev post.

 

even so, as suggested it would make a lot of sense if a) either he do up the bike with his own money first and then, after two weeks, i pay the whole lump sum of the cost of the bike or b) i pay everything now and go.

 

on second thoughts, it might show that i'm not sincere in committing to the sale of the bike, which i am, btw. on the seller's point of view, he would have his worries too, such as: what if i do up the bike and then 2 weeks later, buyer decides to back off? things like that, you know? please advice.

 

pay up and go. get the repairs done urself. end of the day, it is really not worth to take the risk of losing $200 to get some convenience.

[sello]

Hi everyone, I roughly read thru the posts on the thread but I jus want to make sure of the procedures of selling a bike and what would be the best case scenario for my situation.

 

I just bought a bike like 1+ months ago, kind of on impulse now see mother everytime worry when I ride, I also a bit sian for myself and also I enlisting so it didn't seem as well as I thought it out to be so I'm considering selling my bike.

 

The problem is I am enlisting this coming thursday and I can only be out on saturdays and maybe half of sunday so I guess I wouldn't have much time to go to LTA or whatever. So for a whole of 9 weeks I would only have time to come out on only saturdays and sundays.

 

Ok, first of all I want to confirm the steps to selling my bike:

 

1. I just sort out details about the price and transfer fees who pay

(Ok apparently, I don't have a logcard and I read nowadays its e-logcard already but I do have this letter sent to me by LTA that says the details of the bike like no. of owners, car plate number, car model number all that stuff)

2. Then I cash in on my insurance wit the insruance company? (AXA for that matter)

3. A transfer date to go to LTA and then do the transfer(is this when the transfer fees are supposed to be paid?) and I need to bring my IC and logcard only? Is it possible to get someone to do the transfer for me as long as he has my IC?

4. Ok and before all of that the buyer has to go buy his own insruance first right?

 

So all in all the administration part is only when the buyer and seller goes to LTA together to do the transfer only right. During that time, can the owner of the bike not be present and instead send a representative for him to do the necessary stuff(since I would be at tekong)?

 

Thanks for any help.

[sello]

Sorry for consecutive posts but for AXA where is the place to cash in on my insurance? Can cash it in at LTA or must go settle wit insurnace company? Where is AXA HQ or place where I can cash in on its insurnace?

[Guest Eason]

Steps to sell a bike from private owner to private seller (no outstanding loan)

 

Step 1 (Seller and Buyer)

Upon viewing of bike, both owner and buyer will need to sort out some details:

- Deposit to be put?

- Date of transfer?

- Who to pay for transfer fees?

- Agreement signing?

- Owner and Buyer to be at LTA together? or are any of you comfortable to let someone you don't really know well disappear with your IC for a few hours.

 

Step 2 (Buyer)

Buyer will need to buy his own insurance from his preferred insurance company. So far I kinda prefer NTUC (bad experience with other insurance). so it is really very much up to the individual. Seller can provide a copy of the log card for the Buyer to purchase his insurance. Alternatively, Buyer can quote the bike registration no. to the agent for them to check online.

 

Step 3 (Buyer and Seller)

Date of transfer. On the assumption that both Seller and Buyer is at LTA, it is best that the Seller collects $$ from the Buyer first. If you were to transfer the vehicle, and the Buyer refuses to give you the money, you will have a tough court case. After transfer, hand over the bike keys with the bike, and all is done.

 

Step 4 (Seller)

Seller to proceed to terminate Seller's insurance.

 

The above steps is based on a bike which doesn't have any outstanding loan. So the steps are really pretty straightforward

 

Useful Links:

 

Transfer Fee enquiry

https://vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=EnquireTransferFee

 

any know the SOP to buy a bike from PTE seller and get reloan from where?

[wfcheong]

yes, some of them charge a small fees, around $20 bucks.

 

Hi Andy, could you pm me who are they and where are they (contact number) charge only around $20? I asked few they normally charge $70 and above.

 

Thanks in advance for your enlightenment.

 

Best Regards,

WFCheong

[sICkbOi-dOt-cOm]

Hi, can help me sell my bike? seems i got the wrong channel.. thot here help ppl how to sell bike... sekali its the "Steps" on sellin bike...

[-hanzo-]

hi.. i want to know if my bike loan is 5 years, when is the breaking point where i could sell my bike back to the motor shop?

 

n is it possible to sell to a buyer n the buyer COI for 3 or 4 years for the bike? thinking of using my bike for 1 or 2 years only.

[ahhao]

Hi guys, I wanna noe if I currently got 'No License' [ waiting for tp ]

 

And want to buy a bike from a private seller.

 

 

What are the procedures I would have to go through as a seller BEFORE the bike will be officially and legally under my name ?

 

Urgent plz help.

 

Thanks in advance for advises. =D

[kurarensu]

ahhao:

 

1) how much is the bike? eg: $1000 full cash

2) go down with him to LTA, to do ownership transfer, at the same time pay him the $1000. Tell him not to cancel his insurance first.. so he can pillion u over, pillion u go buy insurance, then park your bike at your place/or his.

3) when buying insurance, get yourself a non-riding insurance FIRST

4) after you pass, go down to the insurance company to convert your insurance to a normal 3rd party one.. (gotta top up the difference..)

5) ta ta.. u can ride LEGALLY

[ahhao]

ahhao:

 

1) how much is the bike? eg: $1000 full cash

2) go down with him to LTA, to do ownership transfer, at the same time pay him the $1000. Tell him not to cancel his insurance first.. so he can pillion u over, pillion u go buy insurance, then park your bike at your place/or his.

3) when buying insurance, get yourself a non-riding insurance FIRST

4) after you pass, go down to the insurance company to convert your insurance to a normal 3rd party one.. (gotta top up the difference..)

5) ta ta.. u can ride LEGALLY

 

 

 

Bro regarding point 3. What is a non - riding insurance ? Isit necessary ? Can I just transfer the ownership and park the bike at my deginated place without the non-riding insurance.

 

And btw how much is the non riding insurance ?

 

 

And do I need to layup my bike in the mean time.?

 

 

THANKS THANKS =D

[-hanzo-]

hi.. i want to know if my bike loan is 5 years, when is the breaking point where i could sell my bike back to the motor shop?

 

n is it possible to sell to a buyer n the buyer COI for 3 or 4 years for the bike? thinking of using my bike for 1 or 2 years only.

[mailkuro]

This is what I assumed, please correct me, as i am selling my bike too.

Steps to sell a bike (under instalment)

1. bike viewing by buyer

2. buyer get his own insurance

3. topup me with cash and push the bike to motor diam where i owe instalment with both parties IC and insurance cert.

4. let them settle the rest.

5. few days later say good bye to my bike.

 

is this correct?

[AY90]

hi there, i m facing a problem here. i am the main rider but not the owner of my bike. i m selling and have alr seal a deal with a new buyer. the problem is, the previous owner play bast*rd and dun wan to go LTA due to personal problems ( the previous owner is a lady and is my brother's friend, now NOT anymore). Is there a solution for me to successfully sell my bike? Can this be a police case in terms of cheating or smth lidat? i have alr full cash the bike previously.

 

hope to get some constructive replies. thanks !

Edited February 28, 2009 by AY90

[wX]

hi there, i m facing a problem here. i am the main rider but not the owner of my bike. i m selling and have alr seal a deal with a new buyer. the problem is, the previous owner play bast*rd and dun wan to go LTA due to personal problems ( the previous owner is a lady and is my brother's friend, now NOT anymore). Is there a solution for me to successfully sell my bike? Can this be a police case in terms of cheating or smth lidat? i have alr full cash the bike previously.

 

hope to get some constructive replies. thanks !

 

If I got your situation correct, the bike is registered under the girl's name. The bike had been fully paid for. Now that you wanna sell the bike, the girl refused to head down for a transfer.

 

Honestly, in a straightforward manner, you do not have a case. The bike is under her name, and there is no evidence that it doesn't belong to her. Of course, you can engage a lawyer to fight the case. I'm quite sure there will be some evidence on what is the true story going on. But it sure is going to be costly