101 ways to sell your bike...

[chawanmushi]

yeah same sentiments..

 

so u wanna brief me roughly on the steps involves starting from getting the insurance all the way till the neccesary transfer?

 

hah thanks man =)

[zart]

insurance u can get anytime before you take the bike .. without the presence of the seller.. just get the bike info, your self and money ready..

 

since the seller prefer to to transfer at bikeshop.. u need to be there too to sign agreement and stuffs... but i'm afraid the bikeshop take few days to process..

[chawanmushi]

thats why.. i told him diy is faster which is on the spot and theres no other service charge or whatsoever. anyway nvm la. its settled alr =)

 

thanks man!

[niteoverday]

is there an NTUC branch at LTA head office?

[chawanmushi]

nope.. not anymore dude.

[hfdlgb_ocp]

hi

 

anyone can help me here

 

i am selling my bike to a guy... i have paid full for my bike.. the buyer requests to pay in 2 installments period but he wants to ride the bike first by being the 2nd rider .. only when he has paid in full then i will transfer the ownership to him ...

 

Q1) who do the adding og the sub-rider and how to go about doing it. Is there a cost to do it as well? .. if there is a cost then who is the one paying for it.

 

Q2) Does the buyer need to get a insurance as a sub rider in this case ?

 

Q3) what are the risks of doing so ?

 

Q4) when he has finish paying the full payment .. how to make him the owner from a sub rider .. does he need to get a new insurance ?

 

thanx

[suryadi]

1) get insurance for yourself - need copy of bike logcard, YOUR NRIC & $$

2) go to motordiam, and get the transfers done (1-3 days)- need both IC &

3) pay the $$ to the seller =)

 

OR..

 

1) get insurance for yourself

2) both go to LTA HQ for transfers.. need both person i/c + insurance cert

3) pay the money to the seller =)

 

if you can't fork out the full cash, then whatever you arrange with the seller, better be careful, cos both parties can be liable (seller can suddenly change his mind, and after you pay, he don't transfer the ownership.. seller can be liable for traffic offences of buyer [cos ownership not transferred]).

[kifakw]

hi guys.

 

rougly how much is third party insurance for bikes like X1/Sparks/CBR 150, let say plate from FV - FZ.

 

19 years old and P-Plater.

 

rougly how much shuld you estimate to save if let say you want to get a bike (with insurance+top up to seller) + reloan from motordiam.

 

what are the few motordiam that offers reloan at the lowest rate in the market right now?

 

many thanks.

[marzocchi]

hi does the owner of the bike needs to be around during the transfer? or just the original IC + the signed form will do? thanks!

[marzocchi]

ohh...i juz read the LTA website realised as long as you bring the IC of the owner and form signed by him....it's good enough....i answered my own question!! thanks

[E.M]

like to ask.. how much is the transfer fee and anyway to find out ? thanks

[nayrB]

PROS: No transfer fees, only 1 insurance paperwork to be done.

CONS: If seller decided to take back his bike AFTER you have paid up the remaining installments, legally he have the right to. If buyer commits any offences or fines with the bike, the seller will have to answer if the buyer does not owns up.

 

Q1. If da buyer commits a traffic offence, and did not pay for da fine, must da seller pay da fine which da seller didn't even commit?

 

Q2. Lets' say i sold a bike which is still under hire purchase, but da buyer did not pay for da remaining instalments after i sold da bike to him, wut will happen to me or my guarantors?

 

Pls reply asap... Thanks.

[nayrB]

PROS: No transfer fees, only 1 insurance paperwork to be done.

CONS: If seller decided to take back his bike AFTER you have paid up the remaining installments, legally he have the right to. If buyer commits any offences or fines with the bike, the seller will have to answer if the buyer does not owns up.

 

Q1. If da buyer commits a traffic offence, and did not pay for da fine, must da seller pay da fine which da seller didn't even commit?

 

Q2. Lets' say i sold a bike which is still under hire purchase, but da buyer did not pay for da remaining instalments after i sold da bike to him, wut will happen to me or my guarantors?

 

Pls reply asap... Thanks.

[bigboss]

replacement i believe can be obtained from LTA office bah

but need to pay replacement fee

u r not required to bring along logcard with u when u r riding

u need at most yr licence, NRIC, insurance cert (can be photocopied copy dont need original)

 

any documents to bring to LTA to replace a lost logcard? can subriders do the replacement or issit only owners can do?

[Haruuuu]

hi, may i know if there's such thing as getting a lawyer to create an agreement letter?

 

cos my bike is still under installment and i think my motorhop do not allow transfer of ownership

 

so i heard some1 saying about adding the buyer as subrider and getting a lawyer to create an agreement letter whereby the subrider has to pay the installment something like that? if yes how much does that cost?

 

or are there any other ways for me to sell my bike which is still under installment?

[pawned.star]

wld anyone be kind enough to help me? i kinda read thru the pages but cant seem to find smthing similar.. here's my situation.

 

my bike is still under installments. got like 13 x136.30/mth left. i tot i hav the full cash right now to pay settle the installments but i jz found out my bike shop charges early termination(?) fee of like $500!

 

so i figured got 3 senarios for me :

 

1 ---- add him as sub rider n so he jz COI unofficially until my installments dates are up ( to avoid the early termination fees) the con is tt i dont want to be responsible if my sub doesnt pay or kena fine n don owe up or smthing.

QN: my insurance expires in may n assumin i sell to him in march n he top up my insurance to be sub, do i (as the first owner) need to renew my insurance so tt my sub can ride or my sub can auto take over as first owner when he get the insurance. or i dont need renew but my sub can ride still?

 

2----- pay all the installments full cash & pay termination fees, ask full cash frm him and tx ownership to his name.

 

 

3---- he reloan the outstanding balance so he pass me some kopi money n tx the name to him ...

 

my qn: do u guys tink option 3 is the best? if so, what are the hidden costs... like agreement fees? how much will tt be, any rough idea? what abt other fee? do u tink at the end of the day,if i go w option 3, i'll be paying more than $500. in terms of agreement fee n tx ownership or smthing.

 

really need help guys. im soo confused by this. :(

[d0n]

wld anyone be kind enough to help me? i kinda read thru the pages but cant seem to find smthing similar.. here's my situation.

 

my bike is still under installments. got like 13 x136.30/mth left. i tot i hav the full cash right now to pay settle the installments but i jz found out my bike shop charges early termination(?) fee of like $500!

 

so i figured got 3 senarios for me :

 

1 ---- add him as sub rider n so he jz COI unofficially until my installments dates are up ( to avoid the early termination fees) the con is tt i dont want to be responsible if my sub doesnt pay or kena fine n don owe up or smthing.

QN: my insurance expires in may n assumin i sell to him in march n he top up my insurance to be sub, do i (as the first owner) need to renew my insurance so tt my sub can ride or my sub can auto take over as first owner when he get the insurance. or i dont need renew but my sub can ride still?

 

2----- pay all the installments full cash & pay termination fees, ask full cash frm him and tx ownership to his name.

 

 

3---- he reloan the outstanding balance so he pass me some kopi money n tx the name to him ...

 

my qn: do u guys tink option 3 is the best? if so, what are the hidden costs... like agreement fees? how much will tt be, any rough idea? what abt other fee? do u tink at the end of the day,if i go w option 3, i'll be paying more than $500. in terms of agreement fee n tx ownership or smthing.

 

really need help guys. im soo confused by this. :(

 

to me, option 1 is totally out as we have all seen too many cases of bike owner being sabotaged by subriders who chalk up fines, summons, repairs & damages, etc.

 

if u add a subrider who is less experience than u r, then probably u need to topup some premium. the owner of a bike needs to be included as the main insurance policy holder.

 

option 2 is the hassle free one. but the buyer may not necessarily have the ability to pay full cash to u for the bike.

 

assuming that the shop is honest and upfront. then u only need to pay for the early settlement fee $500.

as for the ownership transfer fee, that is to be discussed between u and buyer.

if the buyer need to take up loan for the bike in order to pay u some cash, any agreement fees incurred by him is purely his concern right?

[d0n]

Q1. If da buyer commits a traffic offence, and did not pay for da fine, must da seller pay da fine which da seller didn't even commit?

 

Q2. Lets' say i sold a bike which is still under hire purchase, but da buyer did not pay for da remaining instalments after i sold da bike to him, wut will happen to me or my guarantors?

 

Pls reply asap... Thanks.

 

A1. technically, the summons will be directed to the main rider. if the main rider says it is the subrider who committed the offence, then i guess the main rider will need to hunt the subrider out to take the blame.

worse case scenario is that the subrider disappears w/ the bike. guess who the authorities will pester when that happens?

 

A2. bikeshop will behave like the authorities in A1. just that they wont bother helping u look for the subrider. if the shop cant get anything out of u, then they will look for guarantor.

[fooz]

i was told, they are using e-logcard now, so no more paper logcard?

 

hw do we get insurance w/o the logcard, if say, we want to buy a 2nd hand bike?

[timothy927]

just provide ur agent e bike no.

they can check e bike's detail online

[Gomo]

hi,

 

what are the procedures for selling a bike to a bike shop?

[d0n]

hi,

 

what are the procedures for selling a bike to a bike shop?

 

go to the shop and leave yr bike w/ them.

they probably need yr NRIC for 1 or 2 days to do the necessary transfer of ownership of the bike.

payment usually in form of cheque.

 

the above is assuming yr bike is already fully paid for.

[Redz]

got a question.

basically, we'll have to visit the two places, first the insurance company, and next the lta office.

advised for both buyer and seller to be around rite?(and bike has to be fully paid..

and well, the question is, once i make the new insurance for the new rider, meaning under just the buyer's name and not mine. does the insurance immediately take effect?or it only takes effect after the transfer of ownership is done?

coz,wondering who will be able to ride the bike to lta after the visit to the insurance company..as the new insurance is under the buyers name, but ownership is still under my name..

[kosmos]

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?

[d0n]

got a question.

basically, we'll have to visit the two places, first the insurance company, and next the lta office.

advised for both buyer and seller to be around rite?(and bike has to be fully paid..

and well, the question is, once i make the new insurance for the new rider, meaning under just the buyer's name and not mine. does the insurance immediately take effect?or it only takes effect after the transfer of ownership is done?

coz,wondering who will be able to ride the bike to lta after the visit to the insurance company..as the new insurance is under the buyers name, but ownership is still under my name..

 

i think the simple answer will be for the party who has an active insurance policy to ride the bike.

 

if u have already cancelled yr insurance for the bike, then u shouldnt be riding it on the road even though the bike is still under yr name for that few hours.

 

hope this helps.