any gurus help me thanks~

[holdurhead]

hi all gurus.

 

i need an answer for this Q.

 

i wish to transfer my bike to a guy X. X has no insurance for my bike. but X has a valid license. is it possible to do a transfer in this case? my dad said that guy X oso need insurance. cant i jus do a transfer at lta? coz guy X said that its possible as he plans to do a lay up.

 

understand-able right?

 

thanks for taking ur time to ans this q.

[zyrofillica]

if he wants to lay up. he doesnt need insurance. Just go down to lta with the guy with the required documents.

[sICkbOi-dOt-cOm]

No insurance or license still can transfer...

[holdurhead]

but i went to the lta website. it says need lei.. it states that the buyer also need to have season parking.. how come like that ah? or isit i misinterpret the thing?

u all can refer to the link below..

 

http://www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/checklist/ownership_transfer.html

[nightsteed]

but i went to the lta website. it says need lei.. it states that the buyer also need to have season parking.. how come like that ah? or isit i misinterpret the thing?

u all can refer to the link below..

 

http://www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/checklist/ownership_transfer.html

Yep, you did.

 

Refer to this.

 

Also, since the guy X seemed to know this well enough, suggest you just make sure you collect the full amount agreed between you and let him handle the rest...

[holdurhead]

Yep, you did.

 

Refer to this.

 

Also, since the guy X seemed to know this well enough, suggest you just make sure you collect the full amount agreed between you and let him handle the rest...

 

ok thank you so much.. u made my life easier.. lol.. sry man, nv do transfer b4 so very noob.

[Oreosworld]

Yup u dont need. Just go down straight to LTA at 10 sin ming drive there lvl 2 say u wanna transfer ownership and need a lay up form. FIll up pay $30+ total if i remember right and its done. After that everything is for guy X to bare. Whether he put season parking, coupon or try his luck not to put all his prob. Ur only concern is u get paid for u bike

[nightsteed]

Yup u dont need. Just go down straight to LTA at 10 sin ming drive there lvl 2 say u wanna transfer ownership and need a lay up form. FIll up pay $30+ total if i remember right and its done. After that everything is for guy X to bare. Whether he put season parking, coupon or try his luck not to put all his prob. Ur only concern is u get paid for u bike

 

^ QFT.

 

Dun worry so much. Just make sure you collect the money. After that go home, check under here to make sure that bike is NOT under your asset anymore (wash hand, dust buttock) just to be safe.

[holdurhead]

ok.. thanks a lot!!! now i got 1 more question lol.. sorry ah. waste ur time to answer my noob question.

 

now the deal is, i transfer to the person. he needs to get his own insurance. so, do i have to cancel my insurance before he gets the insurance?

 

or does he have to get his insurance, together with my insurance. we go down to lta and do a transfer. after that, i go to the insurance company to cancel my insurance?

 

coz the prob is, my dad is the rider and im the sub rider, not sure if there can be 2 sub riders?

 

lastly, what documents does he have to bring to the insurance company ah? log card only ah?

 

sorry for asking so much. 1st time doin transaction so very worried that something might go wrong.. thanks thanks thanks a lot !!!

[nightsteed]

ok.. thanks a lot!!! now i got 1 more question lol.. sorry ah. waste ur time to answer my noob question.

No worries. We all started somewhere... since i got time...

 

now the deal is, i transfer to the person. he needs to get his own insurance. so, do i have to cancel my insurance before he gets the insurance?

No need to cancel yours first. If you still want to ride the bike to LTA for the transfer, you will need valid insurance cover.

 

or does he have to get his insurance, together with my insurance. we go down to lta and do a transfer. after that, i go to the insurance company to cancel my insurance?

If he want to ride, he will have to get his own insurance. He don't need to have your insurance to buy his own. Yup, after the transfer is completed and you are not riding that bike anymore, feel free to cancel your insurance and get refund.

 

coz the prob is, my dad is the rider and im the sub rider, not sure if there can be 2 sub riders?

Most of the insurers only allow one sub rider, iirc. Need to check with your insurer. But, as you are selling/transfering your bike, why add sub rider? Get the buyer to buy his own.

 

lastly, what documents does he have to bring to the insurance company ah? log card only ah?

Now no need log card also... insurance company can see online. Just bring money plus his own idenitification and licenses. He need to know your plate number also.

 

sorry for asking so much. 1st time doin transaction so very worried that something might go wrong.. thanks thanks thanks a lot !!!

Welcomed. Thats why suggested you collect money first. With the money in your hands, what can go wrong is also the buyer's problem... he will have to sort it out. Haha.

[holdurhead]

Quote:

Originally Posted by holdurhead

coz the prob is, my dad is the rider and im the sub rider, not sure if there can be 2 sub riders?

 

Most of the insurers only allow one sub rider, iirc. Need to check with your insurer. But, as you are selling/transfering your bike, why add sub rider? Get the buyer to buy his own.

 

so in this case.. means can have 2 rider and 1 sub rider ah lol? then after transfer cancel 1rider and 1 sub rider can? sry ah. i really cmi...

[nightsteed]

One insurance policy is usually one rider one, at most one sub rider.

 

But one bike may have two insurance policies (or as many as you wish to buy).

 

So the second policy can be another rider, plus another sub rider if the new owner wishes to. Note that the second policy has nothing to do with the first policy...

 

Still confused?

[holdurhead]

o.. ok get it!! thanks so much lol!! ps ah. greenhorn here.

[nightsteed]

No worries, we are all learning new things everyday.