Coi

[blackant]

Wonder how to do COI?

Do the owner transfer the owner ship or just put sub rider?

 

What is the pro and con?

Hope someone can enlighten me. Thanks.

[Ghandhayutham]

Hey bro... my previous bike which i bought from ASPhoon I let a dude COI.

 

1.Both of you go down to the bike shop together.

 

2.He must bring his new garuantor (

 

3.Must pay upfront 3 months of instalment + 5% of service charge on remaining amount owed the bike shop + transfer fee + insurance MUST buy from them.

 

Some shops do not allow ppl to do the above, means u must just add name to insurance. I believe that this is a VERY VERY bad idea because, you will be paying for the machine but the machine will legally belong to somebody else. This means that when you finish paying, if the first owner says "thank you" and dissappears with the bike, you cannot do anything!

 

Good luck!

[kish_garfield]

ASphoon does it the most sound way from the looks of it

[jem89]

what is coi actually?

[blackant]

Hey bro... my previous bike which i bought from ASPhoon I let a dude COI.

 

1.Both of you go down to the bike shop together.

 

2.He must bring his new garuantor (

 

3.Must pay upfront 3 months of instalment + 5% of service charge on remaining amount owed the bike shop + transfer fee + insurance MUST buy from them.

 

Some shops do not allow ppl to do the above, means u must just add name to insurance. I believe that this is a VERY VERY bad idea because, you will be paying for the machine but the machine will legally belong to somebody else. This means that when you finish paying, if the first owner says "thank you" and dissappears with the bike, you cannot do anything!

 

Good luck!

ya, thanks, I think the first method is still safer for buyer.

[d3m0nash]

what is coi actually?

 

it mean carry on installment...

[eedwinn]

How much will the insurance cost if let them handle? I only know if buy the insurance on our own will cost $700+...

[blackant]

How much will the insurance cost if let them handle? I only know if buy the insurance on our own will cost $700+...

 

I think insurance cost is based on your age and the type of bike you are riding etc.