Is COI/Subriding recommended?

[xarlandriakillz]

As mentioned above is it recommended?

[reize]

COI only recommended if both party can trust each other.

 

For seller, you are still legally owner of the bike until the loan paid off before you can transfer the ownership. So if buyer play punk on the road and rack up offences, you are the one that will get saman first.

 

For buyer, you are paying off the loan on a bike that technically belongs to someone else. If the seller somehow end up turn tables and refuse to do the transfer to you after the bike is fully paid for, you LLST unless you remembered to have paperwork to prove all the transactions.

 

Personally I'd rather save up money, and full cash on the spot when signing the transfer documents on bikes that are fully paid. That's how I bought all my bikes even though many times I had to wait for a long time and several good deals slipped out of my hands.

[xarlandriakillz]

COI only recommended if both party can trust each other.

 

For seller, you are still legally owner of the bike until the loan paid off before you can transfer the ownership. So if buyer play punk on the road and rack up offences, you are the one that will get saman first.

 

For buyer, you are paying off the loan on a bike that technically belongs to someone else. If the seller somehow end up turn tables and refuse to do the transfer to you after the bike is fully paid for, you LLST unless you remembered to have paperwork to prove all the transactions.

 

Personally I'd rather save up money, and full cash on the spot when signing the transfer documents on bikes that are fully paid. That's how I bought all my bikes even though many times I had to wait for a long time and several good deals slipped out of my hands.

 

Thanks bro! I get a clearer picture now. Anyway keep up with the vlog! Hope to ride with you once I get my bike!

[wait4me]

COI deal ??

forget it, the pain and hassle when things go wrong is not worth it

[feriosi]

No matter what black and white both of u signed with lawyer as witness also will still have issues if the any negative issues arises. LTA stated clearly the seller gotta do the transfer of ownership to the buyer within 7 days. So if u wanna take the risk, then better pray hard that nothing bad happen.