How do i transfer ownership for a vehicle still under installment plan

[kisho]

Hey guys. got a question. Currently my bike is still under installment. I am planning for an upgrade soon and my friend is intrested to take over my bike. trouble is, if i were to sell back to shop still need to pay this and that. so i was wondering, can i do a transfer of ownership, meaning my friend takes over me for the bike and we just pay the transfer of ownership and he continues paying my installment?

[IvikaRazI]

Hey guys. got a question. Currently my bike is still under installment. I am planning for an upgrade soon and my friend is intrested to take over my bike. trouble is, if i were to sell back to shop still need to pay this and that. so i was wondering, can i do a transfer of ownership, meaning my friend takes over me for the bike and we just pay the transfer of ownership and he continues paying my installment?

 

You need to discuss with the shop....Most prob won't be able to do so. Shop will ask to re-finance the bike for the new owner. Every shops works in mysterious ways....ask them. I dun think will have to pay for asking such question.

[kisho]

You need to discuss with the shop....Most prob won't be able to do so. Shop will ask to re-finance the bike for the new owner. Every shops works in mysterious ways....ask them. I dun think will have to pay for asking such question.

 

Itz ASP Serangoon. Orite2 sure. ill try to find out.

[S_R]

I think full settlement is the best way ?

[cumified]

if its ASP. should be easy. buyer juz pay 3mths upfront of installment + agreement fee+ credit check fee+ insurance + trsfer fee