Coi. Of bike

[ayid71]

My fren wanna sell his r6 but cant transfer ownership bcoz the bike is still under shop

So if wanna continue installment but in a save way so

That when i pay the bike finish. It will be mine not his

Any advice

[IvikaRazI]

Its best if you could re-finance the bike. Remember it works both ways, the owner can still sell off the bike without your knowledge. Even with a b&w agreement, it will not be valid in court. Reason, did not involve the bikeshop. Maybe you could ask if can transfer ownership to you and how much. I would rather pay a little more now than problems later. Heard and seen so many stories on COIs.

 

At the end of the day, you will still decide.

[ayid71]

Thks.

The bike is under southern they dont allow transfer.

[swoosh]

Come to think of it COI= Carry on instalments it has nothing to do with transfer of ownership.

 

Willing parties to such arrangements should change their mindset about this. Just treat this as pay as you ride, provided the bike shop don't require sub rider as guarantor of the loan.

[IvikaRazI]

Thks.

The bike is under southern they dont allow transfer.

 

Well if you tell them to refinance the bike and transfer ownership to you, I am sure they would want to. They would gain more that way. It would be almost be the same as your friend sold the bike bacl to Southern, then you buy back from Southern.

[shahrul_azmil3]

Done coi to other riders before on my ex cbr600

 

Headache I tell u

 

Every month comfirm loss some sleep. Got to make sure the bike been paid

 

No use write black and white nonsense. No point.

 

End of the day, u can play me , I too can play u.

 

In the end that bike has been coi for a total of 5 riders

 

I promise to myself never to do this stunt again

 

Oh yah, I recently knows too that I too can been penalize if the punk would do some stunt like riding without valid rd tax n insurance or let their frens ride the bike too.

 

As tp place it as I" allow" it. As I owner is the main gurentor for that bike.

 

Not that simple case ar! Lucky I got warning

 

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