Buying & Selling a Bike and COE Extension

[okl]

i also got some issues about buying and selling bike.

 

lets say im riding bike A now and i wanna buy bike B.

 

1) in order to buy Bike B i have to get insurance for it.

 

2) So i go to the insurance company for Bike A and purchase the new insurance for Bike B, then head down to LTA to process ownership transfer.

 

3) so now i own Bike A and Bike B under my name, and now i want to sell Bike A.

 

4) so i post on forums and one buyer confirm he want to buy.

 

5) i go down to his selected insurance company with him, get his insurance then head down to LTA to process ownership transfer.

 

6) so now i own only Bike B.

 

questions:

 

a) the question here is what about my insurance for Bike A? is it possible that at step 2), i cancel my insurance for Bike A and transfer the balance over to Bike B? this way i do not need to fork out so much cash for the insurance of Bike B.

 

b) another thing- throughout the entire process, what documents are needed? now that logcard is no longer in use, what documents are needed? i can only think of NRIC, driving license and Relevant Insurance Papers.

 

c) also, do u have any idea how much does it costs to extend COE for a bike?

 

 

**Sorry mods i posted in legalities and in this forum, but i dunno where this topic belongs to! Sorry for any inconvenience!

[rideral]

a) the question here is what about my insurance for Bike A? is it possible that at step 2), i cancel my insurance for Bike A and transfer the balance over to Bike B? this way i do not need to fork out so much cash for the insurance of Bike B.

If I'm not wrong, I think the insurance company would refund you the balance for Bike A...but if you ask, you might be lucky and get an offset...but that's unlikely...maybe....just maybe??

 

b) another thing- throughout the entire process, what documents are needed? now that logcard is no longer in use, what documents are needed? i can only think of NRIC, driving license and Relevant Insurance Papers.

For getting insurance, I think only licence and NRIC is needed...For transfer of ownership, only Insurance and NRICs of both the seller & buyer.

 

c) also, do u have any idea how much does it costs to extend COE for a bike?

For renewal of COE or if you call it extension, just pay the Prevailing Quota Premium (PQP) for that month...Check out the PQP at http://www.onemotoring.com.sg.....

[terror]

hijack your thread abit, regarding buying, selling and COE.

What I would like to know is how do I scrap my bike and use the COE (cheaper than present) to register a new bike? Is it possible?

[rideral]

Originally posted by terror@Dec 26 2006, 09:53 AM

hijack your thread abit, regarding buying, selling and COE.

What I would like to know is how do I scrap my bike and use the COE (cheaper than present) to register a new bike? Is it possible?

Upon scrapping your bike, if your COE (no.of yrs) still got balance, you will get a COE rebate (paper value)....with this rebate, you can use it to offset your COE for the new bike or you may sell & transfer this rebate to someone else....For scrapping, check out onemotoring website for more details...hope it helps...

[Arctic]

Upon scrapping your bike, if your COE (no.of yrs) still got balance, you will get a COE rebate (paper value)....with this rebate, you can use it to offset your COE for the new bike or you may sell & transfer this rebate to someone else....

 

Sorry for digging up this old thread.

 

Can I juz ask, how I can sell and transfer the COE rebate?

 

Thx!