class 2 bike coi question

[taaouicha]

Okie i saw some forumers selling their class 2 bikes with a coi option and

im quite interested but I still have to wait 2 more moths before enrolling for my class 2.

 

my question is can I put a down payment(3k+ or so), refinance and transfer ownership of bike to me?

 

I owned 2 class 2a bikes previously, bought them both cash before getting my class 2a last time and laid up the bike. No comments whether I rode illegally/cap merah or not

 

But im not sure about how things go if I were to coi a class 2 bike from a forumer(refinanced and all) which is still tied to a shop. I wont be able to get insurance cause still no class 2 license, do I need to lay it up or can I be an owner and just let it stay put under my block? Paying roadtax is not an issue and prefer not to lay up the bike cause of the hassle of going through reinspection to de lay it up after i get my class 2 in approx 3-4 months.

 

Anyone can enlighten me on my queries?

[AliDavidSum]

The only clear thing is that the seller still owns the bike.

 

The so-called "agreement" letter is not recognised by the law, meaning all summons incurred by the sub-rider (buyer) will be sent to the owner.

 

On the other hand, there is nothing you can do if the seller decides to play punk and take back the bike.

 

NEVER NEVER COI, even from good friends.

 

More so from forumers whom you know not at all.

 

Don't play play hor.

 

Before you COI, learn costly mistake by others first:

 

http://www.singaporebikes.com/forums/showthread.php?t=260526

 

http://www.singaporebikes.com/forums/showthread.php?t=272025

 

Lastly, it is never too late to decide what to do after you pass Class 2, rather than thinking about lay up, insurance etc. There are always many wanna sell their bikes.

Edited February 22, 2010 by AliDavidSum

[welly]

$$ is the root of all evil.friends can become foes so think doubly hard if u really wana coi.b patient,concentrate on securing that CL 2 licence n then work twds getting yr dream bike.what if something happens to u during the period of attending cl 2 lessons?what if u dun pass on the 1st Cl 2 TP test?think,think and think again