101 ways to sell your bike...

[StingRhea]

but if the document require signature~ better note abt that~

[ayuluv]

Originally posted by StingRhea@Feb 14 2004, 01:02 AM

but if the document require signature~ better note abt that~

okie... thnx alot... i found out liaoz... oni need to sig n original ic of the person whom the bike will be transfered to... so should b no prob at all... thnx alot..

[Piper]

Hi Guys,

 

just wondering - If i do not have a license, can I still obtain insurance under my own name?

 

If not, that means I am unable to register a bike under my name as well since the insurance is required, isn't it?

 

 

Do I need a license if someone subs me as a rider?

 

Thanks.

[ayuluv]

Originally posted by Piper@Feb 15 2004, 11:45 PM

Hi Guys,

 

just wondering - If i do not have a license, can I still obtain insurance under my own name?

 

If not, that means I am unable to register a bike under my name as well since the insurance is required, isn't it?

 

 

Do I need a license if someone subs me as a rider?

 

Thanks.

well... when i buy ins... they wanna c the lic... so i assume u need the lic to buy a bike n ins under ur name (OWNER)

but if the owner is someone who got the lic... the sub rider no need lic oso can be authorise ah.... juz need ur name... but that oni applies to NTUC...

other ins company me not sure... cos they based on the youngest rider...

[Ken]

so overall, can i conclude that, to buy a bike from a private owner,

 

i need to:

 

1) Get the original logcard

2) Go to insurance company together with the logcard and purchase the insurance

3) Then can go to Sin Min to do the transfer of ownership?

 

or

 

can do transfer of ownership first then go buy insurance?

 

thanks for any help.

[ayuluv]

Originally posted by Ken@Mar 4 2004, 01:41 AM

so overall, can i conclude that, to buy a bike from a private owner,

 

i need to:

 

1) Get the original logcard

2) Go to insurance company together with the logcard and purchase the insurance

3) Then can go to Sin Min to do the transfer of ownership?

 

or

 

can do transfer of ownership first then go buy insurance?

 

thanks for any help.

no need original log card to buy ins...

but its better to haf ins first b4 doin transfer.. if not cannot b done...

[Ken]

thanks

[hilfiger]

I have a question,

 

After reading all posts here, am i right to say that a single bike can have more than 1 owner(main rider)?

 

Because when say u want to sell yr bike, the buyer needs go buy his own insurance first, then can do transfer. So before the transfer is completed, the bike now has 2 owners already...right?

 

Anyone to clarify?

 

[vintcs]

Originally posted by hilfiger@May 4 2004, 01:14 AM

I have a question,

 

After reading all posts here, am i right to say that a single bike can have more than 1 owner(main rider)?

 

Because when say u want to sell yr bike, the buyer needs go buy his own insurance first, then can do transfer. So before the transfer is completed, the bike now has 2 owners already...right?

 

Anyone to clarify?

 

not two owners. When u want to sell off the bike, the buyer need to go and get another insurance for this bike. Which mean have two insurance for that bike. preferably the date is the transfer date.

 

After which u go and transfer the name in the previous owner to the buyer's name.

 

got it?

 

Bike can have one owner and one sub rider.

[2_wheeler]

Originally posted by hilfiger@May 4 2004, 01:14 AM

I have a question,

 

After reading all posts here, am i right to say that a single bike can have more than 1 owner(main rider)?

 

Because when say u want to sell yr bike, the buyer needs go buy his own insurance first, then can do transfer. So before the transfer is completed, the bike now has 2 owners already...right?

 

Anyone to clarify?

 

yes, during the transfer there are 2 insurance as the new owner of the bike need insurance before he/she can do the transfer at LTA.

[hilfiger]

What if the road tax of the bike has expired and the owner didn't renew. Then when he wants to sell bike to a buyer, how will it affect the transfer? Must pay a fine to transfer right?

[vintcs]

Originally posted by hilfiger@May 7 2004, 11:48 PM

What if the road tax of the bike has expired and the owner didn't renew. Then when he wants to sell bike to a buyer, how will it affect the transfer? Must pay a fine to transfer right?

yes must paid a fine... and its illegal to ride without roadtax also. Get ur friend pay the road tax first before selling or buying it over.

[hilfiger]

Scenario: A bike is sold by a seller to a buyer. So the buyer goes to buy insurance for the bike first. But before the transfer of ownership, can the buyer ride the bike yet?

 

Then if he does and gets into accident, is his insurance for the bike applicable or valid? Although the bike is not yet transferred from the seller to the buyer's name...

 

Anyone to clarify?

[hilfiger]

Anyone can help?

[2_wheeler]

Originally posted by hilfiger@May 9 2004, 06:32 PM

Scenario: A bike is sold by a seller to a buyer. So the buyer goes to buy insurance for the bike first. But before the transfer of ownership, can the buyer ride the bike yet?

 

Then if he does and gets into accident, is his insurance for the bike applicable or valid? Although the bike is not yet transferred from the seller to the buyer's name...

 

Anyone to clarify?

it will based on case by case bases.

[thermo]

heya there !! regarding this issue, i am buyin a bike from a person i met though fren. he's is still on installment though..he told me to pay him some money then i coi~~wot if i pay pay his installment then he claim the bike is his..anyone in the same scenario before as me ?? buyin from a pvt seller..insurance i am the sub, he adds me up on his insurance..and also, is there such a thing like a black n white stating once the installment has finished, ownership will go to me ?? scary if he plays me out:help:

[d0n]

Originally posted by thermo@Jun 11 2004, 08:48 AM

heya there !! regarding this issue, i am buyin a bike from a person i met though fren. he's is still on installment though..he told me to pay him some money then i coi~~wot if i pay pay his installment then he claim the bike is his..anyone in the same scenario before as me ?? buyin from a pvt seller..insurance i am the sub, he adds me up on his insurance..and also, is there such a thing like a black n white stating once the installment has finished, ownership will go to me ?? scary if he plays me out:help:

yes it is true that after u have finished paying for the installments the owner might play u out

so unless u can get a really gd black and white document that can be presented in court that can verify that the ownership of the bike will be transferred to u upon completing the installments...dont agree to the deal

 

other 100% safe options include

1. u take out lump sum...clear the remaining installments for the bike in one go + do ownership transfer immediately (u can choose to do the transfer at the bikeshop when u clear the installmentsalso...no need to go down LTA to do transfer personally)

2. go ahead w/ the ownership transfer and pay additional interest for the new reloan for the bike...now u pay for yr installments w/ the bike under yr own name! this may not sound economical...but it's certainly beats having to worry abt the owner running off w/ the bike u r paying for!

[d0n]

Originally posted by hilfiger@May 9 2004, 06:32 PM

Scenario: A bike is sold by a seller to a buyer. So the buyer goes to buy insurance for the bike first. But before the transfer of ownership, can the buyer ride the bike yet?

 

Then if he does and gets into accident, is his insurance for the bike applicable or valid? Although the bike is not yet transferred from the seller to the buyer's name...

 

Anyone to clarify?

ehh

frm what i know

as long as the buyer have already been covered by the insurance

and u are able to prove that the ownnership transfer is in process (the bikediam still doing the paperwork etc)...should be okay bahz

pls correct me if im wrong

[d0n]

Originally posted by hilfiger@May 7 2004, 11:48 PM

What if the road tax of the bike has expired and the owner didn't renew. Then when he wants to sell bike to a buyer, how will it affect the transfer? Must pay a fine to transfer right?

there will be an additional fee imposed when u go and renew the roadtax for the bike after it has been expired for over a certain period of time

w/o valid roadtax...bike ownership transfer canot take place

[sky140885]

Hi All,

Would like to ask if let say my dad is taking over as owner, I'm the subrider, and buying the bike from private seller, on the day when buying insurance and doing transfer of the ownership at LTA to my dad, he needs to be present or not?

If not, what are the things needed for me to bring?

Cos would like to settle everything myself without bothering him at all but too bad insurance too ex so like him to be owner so cheaper every year in that case.

Pls help if you could. Thanks in advance.....

[A3roSmith]

u will def need his ic and driving license

[d0n]

Originally posted by sky140885@Jul 13 2004, 05:57 PM

Hi All,

Would like to ask if let say my dad is taking over as owner, I'm the subrider, and buying the bike from private seller, on the day when buying insurance and doing transfer of the ownership at LTA to my dad, he needs to be present or not?

If not, what are the things needed for me to bring?

Cos would like to settle everything myself without bothering him at all but too bad insurance too ex so like him to be owner so cheaper every year in that case.

Pls help if you could. Thanks in advance.....

if u are asking the motordiam to do the insurance + transfer for u...u juz need to pass them yr dad's nric and let them know how many years of riding experience yr dad has

 

if u r going down to make the insurance on yr own...documents required i not sure..minimum is nric of yr dad as well

 

as for going down to LTA to do ownership transfer...juz need to bring yr dad's NRIC and transfer fee money...u may also wish to remind the pte seller to remember to bring along his nric...the logcard/COE cert of the bike...and the roadtax for the bike...

if the bike is more than 3 years of age...may require to go through a vicom inspection 1st if im not wrong

 

difference between settling paperwork on yr own vs getting motordiam to settle for u...

 

1. if yr dad has any no-claim discount under his name...u will be able to get the discount...if u were to go thru motordiam...the discount sometimes wont be applicable liaoz..depending on whether yr motordiam wan to be gd person or not

i've seen motordiam who pass on the discount to me...and i've seen other pple who didnt get the discount frm the motordiam when they should

 

2. less trouble if u go through motordiam...juz need to put all the required documents there then can collect bike + new documents in ard 1-3days depending on efficiency of motordiam

 

3. however..less trouble means u need to pay them for their services rendered...this may cost anything frm $20 onwards...varies frm motordiam to motordiam

[bktan]

Originally posted by d0n^@Jul 13 2004, 10:45 AM

yes it is true that after u have finished paying for the installments the owner might play u out

so unless u can get a really gd black and white document that can be presented in court that can verify that the ownership of the bike will be transferred to u upon completing the installments...dont agree to the deal

 

other 100% safe options include

1. u take out lump sum...clear the remaining installments for the bike in one go + do ownership transfer immediately (u can choose to do the transfer at the bikeshop when u clear the installmentsalso...no need to go down LTA to do transfer personally)

2. go ahead w/ the ownership transfer and pay additional interest for the new reloan for the bike...now u pay for yr installments w/ the bike under yr own name! this may not sound economical...but it's certainly beats having to worry abt the owner running off w/ the bike u r paying for!

for option 1. take out lump sum to clear the remaining installments. Is there a penalty for breaking the hire purchase contract?

 

let say HP is 3 years, bike is 1 year old. So want to pay off remaining 2 years payments so how do they calculate how much to clear?

 

simply $$ monthly installment x 24 ?? and that's it? in that case won't we be paying for interest not used?

 

pls calrify which formula to calculate...thank u all!!

[R3sistor]

Originally posted by bktan@Jul 20 2004, 02:17 PM

for option 1. take out lump sum to clear the remaining installments. Is there a penalty for breaking the hire purchase contract?

 

let say HP is 3 years, bike is 1 year old. So want to pay off remaining 2 years payments so how do they calculate how much to clear?

 

simply $$ monthly installment x 24 ?? and that's it? in that case won't we be paying for interest not used?

 

pls calrify which formula to calculate...thank u all!!

when u bought yr bike on Hire purchase. The interest have already been calculated into it and totalled up.

Yes, you right by saying pay the rest $x * y months of installements.

Paying for interest not used? sorry dude, doesn't matter whether u choose to pay early, cause the interest have already been added to it. You will have to pay that $x even though you are paying it off earlier.

[Exhaus-tion]

sorry guys,borrow dis thread. hope u all can advise....

 

my bike still on hire purchase. in a few months the insurance will expire. i tot of putting my uncle's name FIRST follow by my name as subrider. is dis allowed?

 

If not, what are the complications of doing it?