Can I sell off my bike which is still under instalment?

[4hookes]

Hi all,

 

The situation is this, I have a Spark Z, 100% stock condition (except tyres).

 

The problem is:

 

1) I owe a bike shop $2100 under installment, monthly repayment $248 for 18mths.

 

2) Currently i outstanding due is $1400+

 

3) Insurance DEAD, obviously Road Tax also dead. LTA send letter, if i do not pay road tax by 2 weeks, they are gonna 'confiscate the bike for auction' and 'charge me.'

 

4) I called the bike shop, 'S2' Motoring and ask their credit company 'Y.H Credit' and ask them if I can refinance the loan, to a lesser monthly loan.

They say cannot.

 

The desired solution for me:

 

1) Get rid of the bike, currently in my head got 2 choices:

a) Sell off to another shop, get cash money and then repay back 'S2' Motoring in full

b) Sell off to anyone who is interested in my bike from here.

 

The big big question is this:

 

Can I sell my bike to another shop or person while the road tax is dead, my bike is under instalment and still got outstanding.

 

Please if you know or can recommend me a good motorbike dealer to help me, please do. Thanks.

[craz_03]

can.. u r able to .

juz pay the bikeshop in full...

change ownership n renew rd tax n insurance...

all ready to ride.

but rd tax definitely got extra charges coz expired

[queirtus]

yep better hurry coz the longer u never renew road tax the higher the charges get

[BlackBandit]

Yup, craz_03 is right. Can be done.

 

But hurry the hell up. Road tax expired already and the amount you owe is sufficient enough for the bike company to repossess the bike.

 

But honestly, you may have to be prepared to make a loss and may have to fork out some cash if your bike valuation is poor.

[happydog_83]

FIrst of all, you go lay up your bike, followed by pay all your fine incurred by LTA. Then sell your bike on the internet. You still got time at least won't get charge by LTA.

 

NOTE: IF YOU HAD LAID UP YOUR BIKE, DONT EVER RIDE THE BIKE UNTIL YOU HAD REINSTATE THE ROAD TAX.

[Shaun-Jie]

omg!!!!...........