transfer ownership

[boi kecik]

heya....guys can u help me? which is better? go to Lta or bike shop? i'm currently riding class2b bike...but i'm not the owner, just a sub rider...how much do i need to pay for the transfer fees and will my insurance need to cancel in order to transfer ownership?

[Yatz86]

of course DIY is better.

 

Transfer fee u could visit LTA website and check for transfer ownership fees.

 

If u're intending to be the owner of ure ride, u dont have to cancel insurance.

[boi kecik]

Thanks bro...anw what is DIY? and do i need to bring anything?

[wX]

Transferring of a vehicle is only possible when you do NOT have any outstanding loans, ie, fully paid for already.

 

http://www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/buy___sell_a_used/Ownership_Transfer.html

 

See the above link for guidelines of transferring a vehicle

[GuiNNeSS]

why dont need to cancel insurance? the TS is a sub, thus he has no insurance.

 

for transfer of owners, I remember the requirement to havce the buyer has a insurance before he can transfer the name of the bike.

 

The seller can then terminate his insurance and be refund back some $$$.

[wX]

Regarding this issue.. wat is an early settlement fee? They require us to pay 1k of fee for transferrin ownership frm a bike dat is stil under instalment... is d 1k jus d fee itself... or actually..(for example, d kr im llooking for )... d 862 of the leftover 6 mnths of coi + another 200 extra... im curious..

 

usually it will be 1k by itself. it's a way for bike shop to earn $$ without doing anything.

[wX]

serious?? dats alot...!!! wah mite as well i get frm bike or frm sum1 sellin a fuly paid bike.

 

For this early settlement fee, it usually ranges from $150 - $500. seldom heard of $1000. Check with the bikeshop what they meant.

[mab]

so from what ive read, buyer must buy insurance for the bike before transferring ownership right?

 

but if the current owner's insurance already covers him and a subrider already, the buyer still can buy insurance ah? like that 3 legal riders already no?