can somebody tell me .... (insurance thingy)

[dizay89]

i don't really know about bikes that much. Just passed tp a month ago but i hope forumers here can help.

 

I'm getting a bike from a forumer here. I only have a certain amount of money. basically, i can only buy his bike(RXZ) first with that sum of money that i have. but i'm worried about the insurance. i don't have the means to get the insurance now.

 

how do i resolve this issue?

 

i'm interested in that person's bike. i don't want to hold the deal so long cause i need it for school transport and also afraid that he will sell the bike to somebody else. (he is not a friend of mine, so no assurance or whatsoever)

 

Thanks guys for the help, appreciates it-

[kittosoft]

lay up the bike first?

[dizay89]

lay up the bike first?

 

What is lay up? sorry i total noob at this

[zeke uchiha]

Hi bro,

 

Basically what you can do is Lay up the bike. As in, the bike is not rideable on the road. You might have to go to LTA and fill up the form. Owner will still be you but just that the bike has got no insurance and road tax activated. So temporary you can get the bike first til you save enuf to apply for insurance and stuff..Maybe for more info you can check out with LTA.

 

Other riders please correct me if i'm wrong..

 

Hope this helps man.

[onepointone]

yea...you buy over the bike from him..then when you go to transfer the ownership, you will have to apply for a lay up, cos you dun have a insurance or a road tax, thus they will ask you if you want to lay up the bike. basically when you lay it up, the bike will be yours but will only be at the designated carpark that you apply for and cant be rode around on the road. So you can save up for both the insurance and the road tax ( if he doesnt have one) an when you get the money, all you have to do is to get the insurance paper and go to lta to "unlay" the bike or give them a call

 

hope this helps =)

[dizay89]

Okay. i got what lay up means. thanks bro.

 

But a friend of mine told me that i can buy insurance but pay monthly for 6 months. is there such thing? in the first place i don't even know how much is my insurance to ride rxz...

[zeke uchiha]

Okay. i got what lay up means. thanks bro.

 

But a friend of mine told me that i can buy insurance but pay monthly for 6 months. is there such thing? in the first place i don't even know how much is my insurance to ride rxz...

 

by far from what i noe is only NTUC...but u have to apply thru their branch and have to pay an upfront of 2 months first...its best u call them and ask how much for your premium age...

[wht3fr3]

e pay insurance by installment thingy no more le..

[zeke uchiha]

e pay insurance by installment thingy no more le..

 

Harr....alamak...thanks for the info man...

 

i outdated la...

[kaii69]

Okay. i got what lay up means. thanks bro.

 

But a friend of mine told me that i can buy insurance but pay monthly for 6 months. is there such thing? in the first place i don't even know how much is my insurance to ride rxz...

 

now NTUC no more installment for insurance

[rweyen]

hope it helps:

 

1st) get a quote from ntuc over the phone 98462663

need to provide them model of bike, no plate, cc, date of registry

 

2nd) go to collect ur insurance on the day before ur transfer, can do installment but need 2 months upfront

 

3rd) at lta do the necessary transfer, only original NRIC n buyer seller to be present unless authorizing others(u will have to pay a fee for that usually) cost to incurred at lta will be road tax(RX-Z shud be cheap $30+ for 6mnths, $70+ for a yr), transfer fees depends age of bike, if not laying up is at $5.35 for a year. if not getting insurance, can skip 1st n 2nd

 

4th) physical bike need not be there at LTA, after paying the docs of ownership will be issued, and u r a biker liaozzzzzzzzzzzzz.

 

Got it?

Very simple one!

[rweyen]

ops, then for installment with insurance i think can use credit card 0% installment ba.....

[yenyenpark]

if u really need it, and not enuff $$, get ur dad's help.. as easy as that.. haha

[zyrofillica]

ntuc can pay by installment using debit or credit card. 0% interest over 6 months. just did it an hour ago.

[dizay89]

OH my so contradicting..so that means there is or there isn't any installment plan for the insurance?

[d0n]

juz call the ntuc phone quotation dudes to confirm on the installment part.

anyway im surprised that none of the replies so far actually desuade u frm getting the bike.

 

when u save up enough for a bike, it means u are able to pay for all the possible expenses including insurance (for a least a year worth of coverage + u have solid plans that u can continue paying after the 1yr is up), repairs & maintenance.

 

imagine some unfortunate scenarios u may find yrself after u managed to get the bike.

e.g. get involved in minor accident & u need to fork out money for yr own bike repairs, realise that u got conned big time by the seller as the bike is in lousy condition & needs immediate repair.

 

u will notice that the above mentioned are not extreme unfortunate scenarios w/ remote chances of occurance, cause it is not my intention to be a wet blanket. u have to admit, sh1t happens.

[stanco]

you say u need it for school transport, but no money to buy insurance....

 

so just some friendly reminder to you, don't ride a layout bike if you really intend to get the bike and layup.

[dizay89]

hope it helps:

 

1st) get a quote from ntuc over the phone 98462663

need to provide them model of bike, no plate, cc, date of registry

 

2nd) go to collect ur insurance on the day before ur transfer, can do installment but need 2 months upfront

 

3rd) at lta do the necessary transfer, only original NRIC n buyer seller to be present unless authorizing others(u will have to pay a fee for that usually) cost to incurred at lta will be road tax(RX-Z shud be cheap $30+ for 6mnths, $70+ for a yr), transfer fees depends age of bike, if not laying up is at $5.35 for a year. if not getting insurance, can skip 1st n 2nd

 

4th) physical bike need not be there at LTA, after paying the docs of ownership will be issued, and u r a biker liaozzzzzzzzzzzzz.

 

Got it?

Very simple one!

 

thanks for the help bro. but still i'm not too sure about this. seriously. but i think i'll enquire by going down to NTUC insurance company on thurs.

 

ops, then for installment with insurance i think can use credit card 0% installment ba.....

 

only use credit card? haha. i'm only 19 still schooling in republic poly. where do i even have the income to make a credit card? hahas. can only pay cash.haha

 

if u really need it, and not enuff $$, get ur dad's help.. as easy as that.. haha

 

hahas. i was hoping my dad would help. but neah. they keep insists me to study hard and bla bla bla. they started nagging -.-

they are not that supportive towards me getting a bike,but there were supportive when i took the license.how lame cann.

 

ntuc can pay by installment using debit or credit card. 0% interest over 6 months. just did it an hour ago.

 

really? help me out with this. i don't really know. but at my age, 19 turning 20, how much will my insurance cost? how much monthly? the bike that i'm buying, coe ends on june 26 2010.

[dizay89]

juz call the ntuc phone quotation dudes to confirm on the installment part.

anyway im surprised that none of the replies so far actually desuade u frm getting the bike.

 

when u save up enough for a bike, it means u are able to pay for all the possible expenses including insurance (for a least a year worth of coverage + u have solid plans that u can continue paying after the 1yr is up), repairs & maintenance.

 

imagine some unfortunate scenarios u may find yrself after u managed to get the bike.

e.g. get involved in minor accident & u need to fork out money for yr own bike repairs, realise that u got conned big time by the seller as the bike is in lousy condition & needs immediate repair.

 

u will notice that the above mentioned are not extreme unfortunate scenarios w/ remote chances of occurance, cause it is not my intention to be a wet blanket. u have to admit, sh1t happens.

 

no wonder some owners called their bike, their "second wife" orrr "first wife". maybe getting a bike needs to spend a lot and you must be devoted to it like exactly how you devoted to a women. hahas.

 

you knock some sense in me bro. but for now, i'm doing a part time job. my school is starting in two weeks time. so i thought of using the bike for transport to work and when school reopens, it will be easier for me to travel to school. that's what i thought of laaa.

 

you say u need it for school transport, but no money to buy insurance....

 

so just some friendly reminder to you, don't ride a layout bike if you really intend to get the bike and layup.

 

alright. noted. thanks bro. i'll consider them yup.

[Cpt.ZR]

imho. if u got no $$ to settle for the insurance, better not get the bike.

 

why?

 

because what u are going to do is going to add in another wave and wave of more problems to yourelf.

 

i lent my friend $200, so he could buy a super 4. then he promised and swear he will return me the $ after he got his NS pay. its been almost 5 months i havent hear from him. countless sms, calls. no reply.

 

so RXZ i think it will cost u 700 plus. + Rxz + transfers + petrol

 

u probably will be in waist deep of debts. why not wait till u saved till enough $ then get another RXZ?

 

there are plenty of RXZs around.. it wont runaway one!

[Larcencielzal]

Bro I suggest that you try to get your family's help with the insurance first. If you send the bike for lay-up, note that you will need to tow your bike to inspection centre before riding it legally. Very troublesome indeed.

 

However, I do advise you to be financially stable before owning a bike else the bike will own you instead.

 

Cheers.

[dizay89]

imho. if u got no $$ to settle for the insurance, better not get the bike.

 

why?

 

because what u are going to do is going to add in another wave and wave of more problems to yourelf.

 

i lent my friend $200, so he could buy a super 4. then he promised and swear he will return me the $ after he got his NS pay. its been almost 5 months i havent hear from him. countless sms, calls. no reply.

 

so RXZ i think it will cost u 700 plus. + Rxz + transfers + petrol

 

u probably will be in waist deep of debts. why not wait till u saved till enough $ then get another RXZ?

 

there are plenty of RXZs around.. it wont runaway one!

 

Actually i'm not thinking of getting RXZ. but i came across this guy rxz. so i thought why not give it a try. since sp was way beyond my means. if i were to save enough, i rather get a 4t bike. spark would be good.

 

if i were to used rxz, at least i have my bro to guide me since he is using rxz too. so why not give it a try?

 

i wonder how much will fuel tank rxz costed me? hmms.

[dizay89]

Bro I suggest that you try to get your family's help with the insurance first. If you send the bike for lay-up, note that you will need to tow your bike to inspection centre before riding it legally. Very troublesome indeed.

 

However, I do advise you to be financially stable before owning a bike else the bike will own you instead.

 

Cheers.

 

Alright. maybe i don't have so much burden to carry now. thanks for the advice. appreciates it a lot.

[Larcencielzal]

No problem at all. Glad to help you out.