101 ways to sell your bike...

[kumaran2tm]

Guys Need advice. I am selling my class 2B bike and buying a class 2A bike. I am intending to do the transfer on the same day and time at LTA. So my question is, Can i transfer my insurance from my old bike (class 2B) to my new bike (class 2A) before doing the transfer of old bike? During bike transfer does LTA require the seller to have insurance on the vehicle? Help!

[kumaran2tm]

Guys Need advice. I am selling my class 2B bike and buying a class 2A bike. I am intending to do the transfer on the same day and time at LTA. So my question is, Can i transfer my insurance from my old bike (class 2B) to my new bike (class 2A) before doing the transfer of old bike? During bike transfer does LTA require the seller to have insurance on the vehicle? Help!

 

I ll give solution myself. Insurance companies will not cancel your insurance until you have transferred your bike to a different owner.

[est1892]

Any idea how fast to buy an insurance? Overnight possible?

[yojisan]

I got a question,i bought a 2nd hand bike frm a shop,made my 1st month installment.

but now,i tot of selling it bck to the shop n tke a 1st hand bike.wad is ur advice?thanks

 

currently riding sp150,tot of tradin it in for r15.

[sohpk]

I got a hard question here.

 

I have used my installment bike for a year and thinking of selling back to another shop. Was suppose to repay the bike in two year.However when i call and check up my bike shop regarding the settlement fee, they told me if i were to sell to friend or people, it would be 2.1k but if i were to sell to shop it would cost 3k?

 

I am at a lose at what i should do? Any good advice for me because i hope to minimise my lose even though i know i am already making a lose now.

If i sell to another shop as stated by my bike shop that would mean i have to top up an extra of 1.1k to the shop i am selling to since my monthly installment now is 147 and the final year payment total up to around only1.9k and my bike shop charge a total of 3k for settlement fee to other bike shop.

[Cracked]

hi bros...

 

if selling a bike under COI, i was recommended to draft a letter to cover both me and the buyer's ass. So who do I go to draft this letter and how much? Also lastly, any misc info that I should noe of?

Edited March 10, 2011 by Cracked

[rvnrooron84]

I got a situation here: I wish to purchase a 2nd hand bike, but the owner of the bike claims his insurance have expired and he did not renew it. Also, because of that he is not able to renew his road tax either. But the bike is still under installment with his shop. How to go about dealing with this situation? Can I transfer the insurance from my current bike to the 2nd hand bike?

[dinomano]

Ok i got a question.

1) i want to carry on my friend's bike for another two years. But owner is his father and subrider is my friend. Can my friends name be replace with my name? Will the insurance co allow it? Or will i have to wait till renewal period then can change subrider?

2) will bike shop take my bike for cash?installment finish..

[dinomano]

Logcard can be printed at onemotoring.com using ur singpass password.

[rvnrooron84]

Anyone can help with my question above..? =)

[wX]

I got a situation here: I wish to purchase a 2nd hand bike, but the owner of the bike claims his insurance have expired and he did not renew it. Also, because of that he is not able to renew his road tax either. But the bike is still under installment with his shop. How to go about dealing with this situation? Can I transfer the insurance from my current bike to the 2nd hand bike?

 

Check with the bikeshop whether it is possible to transfer the ownership of the bike. Most of the time it's all about kopi $$. your current insurance for your bike is solely for your bike. non-transferable. you will need to purchase new insurance for your bike. you can cash out ur existing insurance by terminating it. check with your insurance company on the procedures.

[wX]

Ok i got a question.

1) i want to carry on my friend's bike for another two years. But owner is his father and subrider is my friend. Can my friends name be replace with my name? Will the insurance co allow it? Or will i have to wait till renewal period then can change subrider?

2) will bike shop take my bike for cash?installment finish..

 

1) sub-rider can usually be changed. probably will cost you an admin fee and top up of premiums should there be an increase.

2) most of the time yes. but the price is probably very low. you will be better off trying to sell it off on your own.

[LanceR-Evo]

Hi,

 

I have some questions as shown below:

 

1. I am intending to buy a bike from a private seller. He will be retaining the number plate of his bike. While i will be transferring over my number plate to this bike which i am buying over.

2. What are the procedures for transferring of bike number plate ?

3. How do i go about buying the insurance of the bike which i am buying over ? How do i tell the insurance company on which number plate of the bike which i want to buy over ? my number plate which i intend to transfer over to or the current number plate of the bike which the seller is selling ?

4. Any bike shop which can do help to do reloan ?

5. Do i need to go down to bike shop together with the seller which can do reloan to do transfer of bikes ?

 

Thanks alot in advance

[wX]

Guidelines to retain number plate in the following link

 

http://www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/de_register_a_vehicle/retain_number.html

[yatotai]

same here bro.. i got my rxz from bike shop with the installment plan.. after paying for a few months, now i wanna trade my bike with kr also from the same shop.. wonder if they incur any penalty.. or do i need to top up the remaining balance.. or isit that i could simply push back my current bike back to the shop & lose all the money i have paid for (installments and downpayments) and then get a new bike with a new downpayment.. i dunno.. need help guys.. thanks:)

[bobiee]

thanks for the info !

[hkl]

I'm about to sell my 3 years old bike soon, but I lost the logcard. How important is a logcard for a bike? Does it necessary to have in-hand for buying/selling bike?

Can any bro/sis suggest?

[heysugar]

Hi guys, I have a question to ask

If let's say I have a bike that is still under installment from a shop and I want to sell to my friend,

 

Is it possible? And how do I go about it?

 

Thanks a mil!

[wX]

I'm about to sell my 3 years old bike soon, but I lost the logcard. How important is a logcard for a bike? Does it necessary to have in-hand for buying/selling bike?

Can any bro/sis suggest?

 

You do not need the logcard for the sale of a bike. If you would really like to have a copy of your logcard, you can print it out from http://www.onemotoring.com.sg

 

Hi guys, I have a question to ask

If let's say I have a bike that is still under installment from a shop and I want to sell to my friend,

 

Is it possible? And how do I go about it?

 

Thanks a mil!

 

There are generally 3 ways of doing it:

 

1. Full Cash Payment. Take the money from your friend and clear out the rest of the installment with the bike shop. Ensure that the bikeshop updates LTA's record that there are no outstanding loans for the bike anymore. Do the transfer at LTA. Note that some Hire Purchase Agreement will have this clause called early settlement fee.

 

2. Reloan with Bikeshop. Tell your bikeshop that you will be selling your bike to this friend. Check with them whether they can do a reloan. If they are unable to, check out with places like Bike Pro whether they do reloan for your bike. The bikeshops will settle the paper work for you if they are willing to let you do the reloan. Note that admin fees might apply.

 

3. Carry-On-Installment (not recommended). Add your friend as a sub-rider in your insurance. He rides the bike and pay the installment. After the end of the full payment, transfer the bike to his name. Note that this is not the preferred way even with friends. Many here had bad experiences with this mode of sales.

[checkoutonly]

When i already sold of the bike, the insurance still have another 8 months , can i get refund for the remaining months ?

[epk]

When i already sold of the bike, the insurance still have another 8 months , can i get refund for the remaining months ?

 

Yes you can. However it won't be a full refund.

[luminicious]

Hey guys, I'm about to get a bike (P-plate) class 2B.

 

As a foreigner here, I am interested to know what are the procedures like to purchase a 2nd-hand bike from someone selling it online...

 

Do I pay up for the bike and we head down to LTA together to do the transfer of ownership? I will be liable for the road tax + COE of the bike for the upcoming years right?

For insurance policies, how long would they take to process it? For example if we were to close the deal on a friday afternoon (being that we have went to LTA and done all the standard procedures)

What are the other things I would have to take note when closing the deal?

 

Thanks and appreciate your help!

[mnz]

Hi, need some advice here. I've a newly registered class 2 bike which is used for only 3 months. I need to let it go urgently due to some problems(not the bike though). Is there any way i can sell the bike off? I've asked the shop that i bought the bike but they tried to negotiate with me to use the bike for at least 1 yr before they can take in my bike. Tried to ask a few bike shops but none of them wanna take in the bike. Need your advice guys.

[ah_xia_kia]

Hey guys, I'm about to get a bike (P-plate) class 2B.

 

As a foreigner here, I am interested to know what are the procedures like to purchase a 2nd-hand bike from someone selling it online...

 

Do I pay up for the bike and we head down to LTA together to do the transfer of ownership? I will be liable for the road tax + COE of the bike for the upcoming years right?

For insurance policies, how long would they take to process it? For example if we were to close the deal on a friday afternoon (being that we have went to LTA and done all the standard procedures)

What are the other things I would have to take note when closing the deal?

 

Thanks and appreciate your help!

 

Both parties (new and old owner) will have to go down to LTA for transfer of ownership. Payment is between you and the old owner. For payment, you can do at a later time if the old owner agree to it. For COE, unless the bike is coming to its 10 years, you need not worry about buying new COE for the next 10 years. For insurance, you can ask the insurance company to fax you a copy while waiting for the actual copy to be mailed to you and you can straight away ride when you receive the fax copy. Make sure that the old owner have fully paid for the bike before transfering the ownership to you. Otherwise you might end up settling the old owner hire purchase.

[cazlex]

Hey bros!

 

Got a question which i hope your can help me out with.

 

I am planning to sell my bike to another buyer. Private settlement.

Bike alrdy fully paid off.

What is the sequence for the transfer ar?

(A) I do the transfer with him together at LTA. He go and get his own insurance after that or?

(B) He needs to buy his own insurance first before I transfer the ownership?

 

Thanks in advance!