101 ways to sell your bike...

[d0n]

Originally posted by kokchu@Mar 24 2006, 07:36 PM

Very informative thread.

 

Couple of questions here.

 

If selling bike to bike shop, do they pay you in cheque? Any worries about bounced cheques?

 

If selling bike to private buyer, ask for cash or cheque? Same issue with bounced cheques as above.

 

Anyone can advise?

i feel that for transactions with pte buyers/sellers, it is better to settle in cash/ATM fund transfers.

 

alternatively, maybe can cash out the cheque before going to LTA to do the ownership transfer loh

 

better be safe than sorry~

[d0n]

Originally posted by wynsen@Aug 5 2006, 12:15 AM

just a question.. if i wanna add a sub rider.. say a few months after i bought the bike.. where do i go.. the motor diam or the insurance company?? if i want to go straight tot he insurance company.. can?? any charges will be imposed??

try calling up your insurance company to check if they require u to produce the logcard when u add new subrider to yr insurance policy

 

if need the logcard but yr bike still under installment...then i guess u will have to go thru the motordiam to add the subrider

 

but if no need logcard..u can do it on yr own. but do take note of addition admin charges (ard $15?) and there will also be an increment in insurance premium if the subrider you are going to add is younger or has lesser riding experience than u

 

[lance666]

hey, i found a buyer to buy my bike in cash.

prob is, he still havnt got his license n he is a foreigner.. can i sell him? .

he still on prac 8.01

can transfer ownership to him? but he cant ride till he got license?

[d0n]

Originally posted by lance666@Aug 25 2006, 10:08 PM

hey, i found a buyer to buy my bike in cash.

prob is, he still havnt got his license n he is a foreigner.. can i sell him? .

he still on prac 8.01

can transfer ownership to him? but he cant ride till he got license?

i guess as long as he is able to obtain a Singapore 2B licence, there won't be any problems selling bike to him even though he is foreigner

 

i've also read somewhere in this forum that to be an owner of a bike, the person doesnt necessarily need to possess a relevant class of licence. so long as the fella doesnt ride the bike out onto the roads it is fine.

 

[lance666]

Originally posted by d0n^@Aug 26 2006, 01:22 AM

i guess as long as he is able to obtain a Singapore 2B licence, there won't be any problems selling bike to him even though he is foreigner

 

i've also read somewhere in this forum that to be an owner of a bike, the person doesnt necessarily need to possess a relevant class of licence. so long as the fella doesnt ride the bike out onto the roads it is fine.

 

ok thx...

jus proceed to LTA?

insurance i settle my own? he doesnt need rite? since he no license.

gonna get a new bike also den...

[d0n]

Originally posted by lance666@Aug 26 2006, 09:27 AM

ok thx...

jus proceed to LTA?

insurance i settle my own? he doesnt need rite? since he no license.

gonna get a new bike also den...

guess there's no harm calling up LTA at 1800-CALL-LTA to check with them

 

i'm not so sure of the part abt yr buyer doesn't need to purchase insurance cause he doesnt have the correct class of licence.

[ET]

I just did my transfer today...i learnt my lesson and going to share with all.

 

1) Go to the insurance company that you want first to get your insurance for your new bike

 

Must have:

- Previous owner logcard

- Previous owner IC

- Previous owner signature

- Your IC

- Your License

- Your signature

 

For those who are 18-19 yrs old can only buy NTUC & Mitsui, and as for AXA & AIG they only allow 20-21 yrs old and above.

Insurance with immediate effect as of today

 

 

Proceed to LTA to do the transfer from the previous owner to you.

 

Must have:

- Previous owner IC

- Your IC

- Your insurance coverage

- Road TAX

 

Does not require signature from both parties. Then you can collect and ride the bike with immediate effect.

[hilfiger]

Originally posted by ET@Oct 7 2006, 05:37 PM

1) Go to the insurance company that you want first to get your insurance for your new bike

 

Must have:

- Previous owner logcard

- Previous owner IC

- Previous owner signature

- Your IC

- Your License

- Your signature

For buyer to buy new insurance for the bike,

 

Must also need

 

1. Seller's ic?

2. Seller's signature?

 

Then u mean the seller must be present too at the insurance company?

 

I thought no need. Just logcard and buyer's ic, license will do right? Which company did u buy from?

[hilfiger]

If I'm selling a bike under HP to a private buyer:

 

1. Do I have to clear my loan first before the buyer buys insurance and transfer bike to him?

 

2. Or can the buyer get his insurance and transfer bike to him, then I use his cash payment to clear my loan with bikeshop?

 

3. To buy insurance for bike, can use photocopied logcard?

 

[d0n]

Originally posted by hilfiger@Oct 11 2006, 05:14 PM

If I'm selling a bike under HP to a private buyer:

 

 

 

1. Do I have to clear my loan first before the buyer buys insurance and transfer bike to him?

 

depend on the policy of the motordiam which u still owed installments to. check with them abt it. some may allow yr buyer to pay the remaining sum in installments or what they call COI.

 

2. Or can the buyer get his insurance and transfer bike to him, then I use his cash payment to clear my loan with bikeshop?

 

if the bike is still under installment, then u need to do the ownership transfer via the shop.

 

3. To buy insurance for bike, can use photocopied logcard?

 

yes

[ET]

Originally posted by hilfiger@Oct 11 2006, 04:34 PM

For buyer to buy new insurance for the bike,

 

Must also need

 

1. Seller's ic?

2. Seller's signature?

 

Then u mean the seller must be present too at the insurance company?

 

I thought no need. Just logcard and buyer's ic, license will do right? Which company did u buy from?

sori, copied too fast, ya its just seller's ic and logcard~

[ET]

just did my transfer today...i learnt my lesson and going to share with all.

 

1) Go to the insurance company that you want first to get your insurance for your new bike

 

Must have:

- Previous owner logcard

- Previous owner IC

- Your IC

- Your License

- Your signature

 

For those who are 18-19 yrs old can only buy NTUC & Mitsui, and as for AXA & AIG they only allow 20-21 yrs old and above.

Insurance with immediate effect as of today

 

 

Proceed to LTA to do the transfer from the previous owner to you.

 

Must have:

- Previous owner IC

- Your IC

- Your insurance coverage

- Road TAX

 

Does not require signature from both parties. Then you can collect and ride the bike with immediate effect.

[hilfiger]

Originally posted by ET@Oct 14 2006, 12:36 AM

just did my transfer today...i learnt my lesson and going to share with all.

 

1) Go to the insurance company that you want first to get your insurance for your new bike

 

Must have:

- Previous owner logcard

- Previous owner IC

- Your IC

- Your License

- Your signature

Sorry just to confirm again,

 

Why to buy insurance for bike, need the previous owner's ic also?

[hilfiger]

Is it possible to transfer a bike still under HP without the shop knowing?

 

As in u pass yr photocopied logcard to a buyer, he go buy his insurance for the bike, then he go LTA transfer bike from yr name to his name.

 

The shop still thinks the bike is owned by u, but in fact it's already under the buyer's name.

 

Got such thing?? Just curious...

 

[yoshi]

Originally posted by hilfiger@Oct 15 2006, 04:26 PM

Is it possible to transfer a bike still under HP without the shop knowing?

 

As in u pass yr photocopied logcard to a buyer, he go buy his insurance for the bike, then he go LTA transfer bike from yr name to his name.

 

The shop still thinks the bike is owned by u, but in fact it's already under the buyer's name.

 

Got such thing?? Just curious...

 

not quite sure about the system bikeshop work with LTA.

 

everybike under hire purchase ownership is under ur name.but u cant simple just transfer ownership because LTA will know it still under hire purchase.

 

if u success in transfer ownership under hire purchase good for u .u can give it a try .

 

This month bikeshop just start online transation ,that why u go LTA u can find the crowd is gone as they go online no need go queue up at LTA:smile:

[ET]

anyway i did the undertable way by going through a 3rd party shop which can do the transfer and insurance together without the previous owner at the spot...nor require logcard..~

[d0n]

Originally posted by hilfiger@Oct 15 2006, 04:26 PM

Is it possible to transfer a bike still under HP without the shop knowing?

 

As in u pass yr photocopied logcard to a buyer, he go buy his insurance for the bike, then he go LTA transfer bike from yr name to his name.

 

The shop still thinks the bike is owned by u, but in fact it's already under the buyer's name.

 

Got such thing?? Just curious...

 

if it's the old system using logcard, then it's not possible

 

cause by right, LTA side only accept original logcard for the ownership transfer

they will replace the old logcard with the seller's name with another fresh new card w/ buyer's name

[hilfiger]

Originally posted by yoshi@Oct 17 2006, 12:06 AM

This month bikeshop just start online transation ,that why u go LTA u can find the crowd is gone as they go online no need go queue up at LTA:smile:

That means now can go straight to bikeshop to do transfer on the spot, immediately?

 

Thanks guys for all the helpful info to my questions.

[katana999]

can do on the spot meh?? hmm nid some confirmation >.

[RomeoOne]

Got some questions to ask dear bikers here.

 

I own a bike and I am now going to sell it to a Pte buyer.

 

- The buyer is buying over the bike with full cash. However, I still have abit of balance loan with Hitachi Credit (Not Bike Shop).

 

So now he needs to get his new insurance for the bike before he can ride. But which step to do 1st ???

 

The settlement of the balanced loan, the insurance for him, and the Transfer of ownership at LTA.

 

Another thing is will Hitachi Credit have my original Log Card ? :confused:

 

Really confused here.

 

Thanks in advance !!!

[d0n]

Originally posted by RomeoOne@Oct 26 2006, 05:37 PM

Got some questions to ask dear bikers here.

 

I own a bike and I am now going to sell it to a Pte buyer.

 

- The buyer is buying over the bike with full cash. However, I still have abit of balance loan with Hitachi Credit (Not Bike Shop).

 

So now he needs to get his new insurance for the bike before he can ride. But which step to do 1st ???

 

The settlement of the balanced loan, the insurance for him, and the Transfer of ownership at LTA.

 

Another thing is will Hitachi Credit have my original Log Card ? :confused:

 

Really confused here.

 

Thanks in advance !!!

my guess is that the insurance company will ask yr buyer if the bike is still under hire purchase when the buyer try to buy insurance frm them

 

i'm not too sure what will happen if he says yes though

 

anyway, i've checked out the latest procedures on transferring ownership of bikes.

 

note that the steps below are only accurate for bikes which are no longer under hire purchase.

 

doing the transfer w/o going thru motordiam:

 

1. buyer go buy insurance frm relevant insurance company. since there's no longer logcards available, he/she only need to furnish the insurance company w/ some details of the bike e.g. number plate

 

2. vehicle owner + buyer go to LTA to do the transfer. both need to bring NRIC/identification documents. in addition, buyer has to bring along his certificate of insurance obtained frm the insurance company.

 

3. transfer completed on the spot if its done at LTA HQ at Sin Ming.

[cOngx]

Ok!

 

First time seller here, Wanting to ask a question

 

but i think this had been repeated before ok

firstly i am selling a bike to a non-licenced rider.

 

so i bring the bike to his hse carpark , he pay me $ we go do transfer and thats it?

 

 

my bike has been fully paid~

[d0n]

Originally posted by cOngx@December 20, 2006 09:44 pm

Ok!

 

First time seller here, Wanting to ask a question

 

but i think this had been repeated before ok

firstly i am selling a bike to a non-licenced rider.

 

so i bring the bike to his hse carpark , he pay me $ we go do transfer and thats it?

 

 

my bike has been fully paid~

the buyer will need to purchase insurance for the bike 1st before the bike can be transfered to his name

 

LTA side will request to see the insurance certificate with the buyer's name on it before they will process the ownership transfer

 

[hahamen]

ooops... paiseh paiseh... didnt read whole thread...

[xwei54]

LTA side, we pay only the transfer fee right? no other admin charges? if go bike shop do need to pay the bike shop?