Coi and sub rider enquiry

[MorganTYN]

Hi Singaopre riders, need some help regarding COI. I'm giving out my bike for COI as I got a car already.

Met the buyer and he told me he have not got his license can he put his friends name first?

If he got caught riding without a license will I be in trouble ? or if he did not pay the installment and gone missing with the bike will I be in trouble too??

 

 

Thanks please help

[mechwira]

If he got caught riding without a license will I be in trouble ?

 

yes. you are registered owner of the bike under LTA and therefore 100% responsible for what happens with the bike, unless it is stolen.

 

or if he did not pay the installment and gone missing with the bike will I be in trouble too??

 

yes. the original instalment agreement is between you and the shop, not between him and the shop. the shop can (and probably will) legally come after you for the money, and you will have no way to tell the shop or the court judge (if it comes to that) to look for your buyer for the payment, because its your name on the sales contract with the shop. unless the bike is refinanced, in which case then your buyer's name is the one on the contract.

[BlackDawn]

Walk away from the deal. You have everything to lose and nothing to gain.